N.M. Stat. § 4-44-2
Biennial determination of classification.
From and after January 1, 1962, the classification of counties shall be fixed and
governed by the assessed valuation as finally fixed for the preceding year. Provided,
one hundred twenty days after January 1, 1962 and one hundred twenty days from
January 1 of each second year thereafter, the classification shall be determined by the
secretary of finance and administration from the assessed valuation of each county as
finally fixed for the preceding year, and the secretary of finance and administration upon
making the determination shall notify the board of county commissioners of each county
of the class within which each of the counties of this state falls according to the
classification, and the classification as so fixed and determined by the secretary of
finance and administration shall govern the salaries of the county officers for two years
beginning July 1 of the year the classification is determined.