Statutes > New Mexico Statutes > Chapter 7 - Taxation. > Article 34 - Oil and Gas Production Equipment Ad Valorem Tax, 7-34-1 through 7-34-20. > Section 7-34-5 - Oil and gas production equipment ad valorem tax to be exclusive measure of ad valorem tax liability.

Section 7-34-5 - Oil and gas production equipment ad valorem tax to be exclusive measure of ad valorem tax liability.

7-34-5. Oil and gas production equipment ad valorem tax to be exclusive measure of ad valorem tax liability.

The tax levied by Section 7-34-4 NMSA 1978 shall be the full and exclusive measure of ad valorem tax liability for equipment used at a production unit for the calendar year 1969 and all subsequent years. Any other ad valorem tax on equipment used at a production unit is void.