Property Appraisal Department v. Ransom

OPINION

WOOD, Chief Judge.

The appeal is concerned with the valuation of land for tax purposes. The two issues are: (1) classification of subdivided agricultural land for purpose of the property tax and (2) difference between actual value and assessed value.

This appeal is the fifth step in the valuation proceeding and the fourth reviewing step in arriving at the taxable valuation. The briefs agree that the County Assessor valued the land, and that the property owners took an unsuccessful appeal to the County Board of Equalization. Section 72-2-38, N.M.S.A.1953 (Repl.Vol. 10, pt. 2). The…