Section 7-38-76 - Property subject to property taxation but omitted from property tax schedules in prior years. - New Mexico Statutes

7-38-76. Property subject to property taxation but omitted from property tax schedules in prior years.

A.     Subject to the limitations contained in the Property Tax Code [Articles 35 to 38 of Chapter 7 NMSA 1978] and except as provided in Subsection B of this section, county assessors, treasurers and the department have the authority and the duty to enter in the valuation records, list on the property tax schedules, bill for and collect the taxes for all tax years on property that was subject to property taxation but was omitted from property tax schedules and for which taxes have not been paid but would be due except for the omission. Property tax bills shall be prepared and mailed by the county treasurers within thirty days of the date the omitted property is listed on the property tax schedule, and all taxes on omitted property shall be due the date the property tax bill is mailed.   

B.     Except for taxes due in the current tax year and the immediately preceding tax year, the current owner of the real estate is not liable for a property tax bill mailed pursuant to Subsection A of this section if:   

(1)     the omitted property is improvements that were placed on the real estate; and   

(2)     the current owner was not the owner at the time the improvements were omitted and had no actual notice that the improvements were omitted.   

C.     Nothing in this section relieves the owner of the property at the time the improvements were omitted from being personally liable for the taxes due pursuant to Section 7-38-47 NMSA 1978.   

D.     The department shall promulgate regulations for the procedures to be followed and the records to be maintained in the administration and collection of taxes on omitted property. The department of finance and administration shall promulgate regulations covering the receipt of, accounting for and distribution of taxes on omitted property.