New Mexico was the last territory of the contiguous states and remains unspoiled and sparsely population. The semi-arid climate is mild, the vistas enchanting, topography incredibly diversified, wildlife plentiful and the people are warm and friendly. This timeless land weaves threads of Indian, Spanish, Mexican, Anglo, territorial, state and federal culture, custom and laws into a blanket of many rich colors.
New Mexico is “The Land of Enchantment”.
Visitors to the state appear to want to identify with the timeless land and are exploring at record levels. Most depart with lasting memories only to revisit the state, however, the fortunate few discover premium ranches and unspoiled environment and smart buys. These become the “New Mexicans” and new threads of the blanket.
Maximizing Your Depreciation
So you’ve purchased or plan to purchase real estate and not participate in a tax-deferred exchange. There may exist an opportunity for you to take advantage of the acquired property’s depreciable assets. Don’t overlook or under value those valuable assets.
We at Schrimsher Ranch Real Estate can, as a disinterested third party, evaluate the improvements overall contribution value for reporting of the newly acquired property’s tax depreciation schedule. We will prepare for you and your tax adviser a comprehensive narrative report detailing the acquired property’s complex improvement infrastructure. We use actual cost contracts, replacement cost new, less applicable depreciation to establish improvement contributory value, map the property on USGS topography maps and document the property by photographing the improvements. This detailed information is bound in a narrative report providing you and the intended users evidence of the property’s depreciable components. Benefits of the report offer multiple use such as tax, insurance underwriting and historical documentation.
Remember, many times valuable contributory value of the property’s infrastructure is overlooked, undervalued or overstated. We’re confident that Improvement Evaluation reporting services can be beneficial to you and will maximize your applicable depreciation schedule.
New Mexico Brand Laws
The State of New Mexico requires any owner of domestic livestock to apply for, register and record a brand with the New Mexico Livestock Board. The Board is comprised of nine members appointed by the Governor. Seven members represent various segments of the livestock industry with two members representing the general public.
The Board is regulated by the State of New Mexico through state statute. It is charged with the protection of the livestock industry from loss of livestock by theft or straying and to help control the spread of infectious and contagious diseases. Livestock must be inspected at each change of ownership and when transported across district lines.
Federal Grazing Regulations
In 1994 the Secretary of the Interior introduced new grazing regulations for livestock grazing on public lands. This includes all lands regulated by the Bureau of Land Management and the U. S. Forest Service. The new regulations have been gradually introduced over the past four years with some being the focus of litigation by the western livestock industry.
There were several changes that were introduced, but at this time we have seen no significant changes in the method in which livestock operations conduct business in the State of New Mexico. Typically, the BLM within New Mexico have been user friendly.
New Mexico is unique in the western United States in that our BLM grazing permits are attached or tied to base watering. A base watering is considered to be a permanent source of water such as a well or windmill. The base water is almost always located on deeded land that is owned and controlled by the permitee. In some cases base water may be located on state lease land, but this is the exception and not the rule. The Taylor Grazing Act established the grazing allotments over sixty years ago. A BLM grazing allotment can not transfer without the sale and transfer of a deed to the base property.
Schrimsher Ranch Real Estate has dealt with federal agencies on a number of issues and has a good working relationship with their personnel.
Feel free to contact us if you have any questions with regard to livestock grazing on public lands. If we don’t know the answer, we can find someone who does.