Section 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. History: 1953 Comp., § 72-24-5, enacted by Laws 1969, ch. 119, § 5; 1985, ch. 65, § 44. ANNOTATIONSCross references. — For taxes being exclusive of any other ad valorem taxes, see 7-32-5 NMSA 1978.