VALUATION OF RESTING LAND IN DROUGHT

HB 28 allows New Mexico's Department of Agriculture, conservancy districts, or soil and water conservation districts to designate "moderate drought conditions" on resting land. This designation determines whether the land qualifies for agricultural property valuation during droughts, specifically if conditions lasted at least eight consecutive weeks in the previous tax year. The bill amends land valuation rules to include drought-impacted resting land as eligible for agricultural use, directly affecting landowners who rely on this valuation method. It ensures land resting due to drought meets the criteria for agricultural use without requiring active farming during dry periods.