New Mexico Statutes 7-38-21.1. Protests; state-assessed property; election of remedies
A. A property owner may protest the value or classification determined by the department for the property owner’s property for property taxation purposes, the allocation of value of the property to a particular governmental unit or a denial of a claim for an exemption by:
(1) filing a petition of protest with the administrative hearings office, as provided in the Property Tax Code; or
(2) filing a claim for refund with a district court after paying the property owner’s taxes as provided in the Property Tax Code.
B. The initiation of a protest under Paragraph (1) of Subsection A of this section is an election to pursue that remedy and is an unconditional and irrevocable waiver of the right to pursue the alternative remedy provided in Paragraph (2) of Subsection A of this section.