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Agency official explains how business personal property is valued under New Mexico law
Business Personal Property Department · March 4, 2026
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Summary
An agency official said the Business Personal Property Department determines tangible value by starting with the asset's acquisition cost and applying straight-line depreciation to reflect useful life, citing New Mexico law and directing businesses to burnco.gov/assessor.
An agency official said the Business Personal Property Department determines the tangible value of business personal property by starting with the asset's actual acquisition cost and then applying the straight-line depreciation method.
The official said the department uses the…
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