Opinion No. 48-5166
September 1, 1948
TO: John B. Wright Assistant District Attorney Eighth Judicial District Raton, New Mexico
{*160} In your letter of August 19, 1948 you request an opinion from this office concerning the interpretation of that portion of Section 15-4103 (Sec. 1, Ch. 180, Laws of 1947) which reads:
"Provided, further, that in any county where the assessed valuation of property for purposes of taxation is in excess of twenty million dollars ($ 20,000,000) the officers of said county in addition to the allowance provided herein for deputies shall receive not to exceed the following:
Treasurer and ex officio collector for additional deputy or deputies twenty-seven hundred dollars ($ 2700.00)."
Colfax County, according to your letter, has assessed valuations of property for purposes of taxation as follows:
Gross valuation $ 23,058,236.00
Exemptions 3,880,324.00
Net valuation 19,179,912.00
The question presented is whether the phrase "assessed valuation of property for purposes of taxation", as that phrase is used in Section 15-4103, supra, means gross valuation or net valuation (gross valuation less exemptions).
Although there may be some conflict as to a strict definition of terms, the courts seem to hold consistently that "taxable property" or "assessed valuation for purposes of taxation" means property or valuation of property not lawfully exempted from taxation. Pullman Car & Mfg. Corp. v. Hamilton, (Ala.) 155 So. 616; State v. City of Pompano (Fla.), 188 So. 610; McKinney v. McClure (Iowa) 220 N.W. 354; Trepp v. Ind. School Dist. of Pocahontas (Iowa), 240 N.W. 247, Williams v. School Dist. (Wyo.) 102 P. 2d 48; 41 Words & Phrases.
The courts also seem to hold quite consistently that "assessed valuation" means a completed assessment, that is, one which has passed through all agencies employed in determining the amount and value of property available for taxation. 4 Words & Phrases 418.
This office has heretofore indicated that it agrees with the rules set out above. See Opinions of the Attorney General, 1937-1938, page 137 at page 140, and 1931-1932, page 68.
In view of the above, it is my opinion that the phrase "assessed valuation of property for purposes of taxation", as that phrase is used in Section 15-4103, 1941 Compilation, means net assessed valuation, that is, gross valuation less exemptions.