SANTA FE, NM – The State Land Office (SLO), in accordance with NMAC 19.2.8.11, has updated the fee assessed to ranchers and farmers who lease state trust land for livestock grazing. The amount is determined annually using a formula that accounts for various factors such as private grazing land lease rates, beef cattle prices, and the cost of livestock production. The formula has been used to determine rental rates for livestock grazing since 1988.
“I’m happy to announce this decrease in fees to all 2019 agricultural leases of our state trust land. This is an important part of our business because we lease approximately 8.8 million acres to ranchers and farmers in New Mexico for livestock grazing. All of our leases represent a strong partnership and a dedication to supporting the agricultural roots of our state,” Commissioner Garcia Richard said.