Overview

The CAB-M2-5 Report of Mineral Property Value is used to calculate and allocate the mineral property value using the five (5) year method. Note that the form contains two sections, the property value calculator, and the allocation page. The user is navigated to the allocation page by default. To access the valuation calculator, select the blue Valuation button. 

Note that the valuation calculator is to determine the overall mineral property value not determined on CAB-04, 05, 06 and 08 Forms. Use the Allocation page to list the units of ore by school district for the county. 


Notes/Industry Specific Information

  • Minerals

    • Note: All income from the sales of minerals, mineral products, byproducts and other income from the operation of a mine, smelter or other refining plant must be reported on this form.

    • Note: Detail of the accounts comprising the direct costs of extracting, milling, treating, reducing, transporting, and selling the minerals must be attached. An income statement and balance sheet for each mine operating in New Mexico must accompany the annual rendition.

    • Note: Detail of depreciation of assets used in the extracting, milling treating, reducing and transporting of the minerals must be attached. Only a straight-line depreciation basis based on the useful economic life of the asset is acceptable. Accelerated depreciation is not acceptable.

    • Note: Detail of the product(s) units sold to unrelated customers, product sold or delivered to related or subsidiary companies, and product(s) consumed or used in the respondent's operation must be attached. If your operation uses or consumes the extracted mineral product, state the use or end product. If your sales are not equal to production, report the product(s) units that you have extracted and stockpiled for later delivery and/or sale.

    • Note: List the units of all minerals produced during the preceding calendar year. Production can be greater or less than sales, depending on consumption by producer or inventories. Multiply the average sales price (gross receipts from sales divided by total units sold of each mineral) times the units produced to arrive at the Gross Production Value. From the Gross Production Value subtract the "direct costs" of extraction, milling, treating, reducing, transporting and selling the minerals.


Video

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Instructions

Overview

Selecting the CAB-M2-5 Summary record in the Form Group table will take the user to the Mineral Property Valuation index page. The index page is the location where the Property Value is allocated (per original cost) to tax districts.


Valuation

The valuation page is the location where the Mineral Property value can be calculated. To access the valuation page select the blue Valuation button. The valuation page (shown below) is a calculator that allows the user to calculate the mineral value. The interface contains:

Part A (Gross Production Value)

  • The following categories are captured for Principal, Secondary and By Product by year for a five (5) year period
    1. Principal Saleable Units
    2. Units Produced
    3. Average Price Per Unit
  • Misc and Other Income

Part B (Net Production Value Calculation)

  • Royalties
    1. Federal
    2. State
    3. Tribal
  • Direct Cost
  • Depreciation

To complete the page, enter information in all required fields and select the Save button. Note that selecting save refreshes the page and recalculated the values. Selecting Save and Return will return the user to the M2-5 index page.



Allocating Value

To add a new line, select the blue “Add Line” button at the top left of the table on the index page. The user will be taken to the Add Allocation page which will allow information to be entered per type and tax district. Note that the required fields are marked with a red asterisk. Once the required data is entered, select the blue next button.

  • District: Combination of County and Tax District
  • Description: The Description of Assets in Tax District
  • Units of Ore: Amount of ore mined in Tax District



Delete Asset

To delete an asset from the CAB-M2-5 index, select the garbage can to the right of the record. A confirmation window will be displayed to confirm the deletion. Select Yes to delete, No to return to the index page.