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Under 7-36-18 the department shall prepare and publish annually comprehensive sales-ratio studies comparing the values of property determined for property taxation purposes by each county assessor with the values of the same property as established by sales prices to promote uniformity and measure overall compliance by each county with the Property Tax Code and department valuation regulations, orders, rulings, instructions, schedules and other directives.

Sales ratio studies are the primary tool by which assessor’s can monitor valuation accuracy.  By measuring the level and uniformity of assessed values to current market values, such studies become a valuable tool in determining reappraisal priorities and in the administration of valuation maintenance. 

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Taxation and Revenue New Mexico

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