Statutes > New Mexico Statutes > Chapter 7 - Taxation. > Article 4 - Division of Income for Tax Purposes, 7-4-1 through 7-4-21. > Section 7-4-13 - Determination of average value of property for inclusion in property factor.

Section 7-4-13 - Determination of average value of property for inclusion in property factor.

7-4-13. Determination of average value of property for inclusion in property factor.

The average value of property shall be determined by averaging the values at the beginning and ending of the tax period, but the department may require the averaging of monthly values during the tax period if reasonably required to reflect properly the average value of the taxpayer's property.