CAVU Co. v. Martinez

OPINION

DANIELS, Justice.

{1} In this property tax case, we hold that the appropriate inquiry into the validity of a property’s educational exemption from taxation under the exemption provision of Article VIII, Section 3 of the New Mexico Constitution is whether use during the tax year furthers the exempt purpose. Because the taxpayer in this case had only used the property for educational purposes, had declined to use it for noneducational purposes, and was actively negotiating with schools capable of relocating to his campus property during the relevant tax year when the property was…