Jim Libbin, an NMSU agricultural economics professor, made calculations based on the income method of valuation, which is based on income derived from the use of land for agricultural purposes. Though state regulations provide more than one way to make calculations, some of the numbers to be used are dictated by tax regulations, Schickedanz said. That average does not distinguish between a cattle ranch and sheep ranch or between private and public land, Schickedanz said. It also does not take into account statewide variations in the land's productivity for grazing, he said. The assessments have not been looked at for a long time, and they should be.
State law appears to be adequate.
The working group, which was established Dec. 21, is finalizing the nomination method for representatives from commodity groups and other agencies, Schickedanz said.