§ 3-64-1 Short title
§ 3-64-2 Definitions
§ 3-64-3 Exemption of certain commercial personal property from property tax by local bodies
§ 3-64-4 Transmittal of exemption resolution; action of assessor
§ 3-64-5 Expiration of exemption; action of assessor
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Terms Used In New Mexico Statutes > Chapter 3 > Article 64 - Development Incentives

  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Personal property: All property that is not real property.