1 Levy to be proportionate to value; uniform and equal taxes; percentage of value taxed; limitation on annual valuation increases
2 Property tax limits; exception
3 Tax-exempt property
4 Misuse and deposit of public money
5 Head of family and veteran exemptions
6 Assessment of lands
7 Judgments against local officials
8 Exemption of certain personalty in transit through the state
9 Elected governing authority prerequisite to levy of tax
10 Severance tax permanent fund
11 Exemption of national guard members
14 Accrual of elderly taxpayers’ real property taxes
15 Property tax exemption for disabled veterans
15 (Proposed.) Property tax exemption for disabled veterans
16 Property tax exemption for property of veterans’ organization chartered by United States congress
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Terms Used In New Mexico Constitution > Article VIII - Taxation and Revenue

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Personal property: All property that is not real property.
  • Public debt: Cumulative amounts borrowed by the Treasury Department or the Federal Financing Bank from the public or from another fund or account. The public debt does not include agency debt (amounts borrowed by other agencies of the Federal Government). The total public debt is subject to a statutory limit.
  • Statute: A law passed by a legislature.