Taxation
- Statute:
- New Mexico §47-7A-5 · Article CONDO (New Mexico Condominium Act (NMSA 47-7A-1 to 47-7D-20))
- Topic:
- Ownership · Taxation
- Applies to:
- Condo associations
The association elects whether the entire property is taxed as a single parcel (the association is then deemed the owner and notifies unit owners of the tax payment) or whether each unit and its percentage of undivided interest in the common elements is separately assessed.
📄 Read the official text at nmonesource.com →
How SoShiny helps with Taxation
SoShiny is built around the Florida statutes from day one. The features that help you comply with this section are part of every plan — no add-ons, no per-document fees.
See the feature → Start freeFrequently asked
- What does New Mexico §47-7A-5 require?
- The association elects whether the entire property is taxed as a single parcel (the association is then deemed the owner and notifies unit owners of the tax payment) or whether each unit and its percentage of undivided interest in the common elements is separately assessed.
- Who does New Mexico §47-7A-5 apply to?
- New Mexico §47-7A-5 applies to Condo associations in New Mexico.
- What happens if our condo doesn't comply with §47-7A-5?
- Non-compliance can expose the association and individual directors to disputes in the governing forum for New Mexico community associations. SoShiny's audit trail and documented workflows are designed to demonstrate good-faith compliance.
- Where can I read the official text of New Mexico §47-7A-5?
- The official text is published by the New Mexico Legislature at nmonesource.com. The summary on this page is for plain-English reference only and is not legal advice.
- How does SoShiny help with Taxation?
- SoShiny is built around the Florida statutes from day one. The features that help you comply with this section are part of every plan — no add-ons, no per-document fees. Learn more →
Not legal advice. This page is a plain-English summary of New Mexico §47-7A-5 prepared by SoShiny for board members and managers. For binding legal advice or interpretation, consult a New Mexico-licensed attorney. For the official statutory text, see the link above.
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