2021 New Mexico Statutes
Article 25 - Public School Capital Improvements
Section 22-25-3 - Authorization for local school board to submit question of capital improvements tax imposition.

A. A local school board may adopt a resolution to submit to the qualified electors of the school district the question of whether a property tax should be imposed upon the net taxable value of property allocated to the school district under the Property Tax Code [Chapter 7, Articles 35 to 38 NMSA 1978] at a rate not to exceed that specified in the resolution for the purpose of capital improvements in the school district. The resolution shall:
(1) identify the capital improvements for which the revenue proposed to be produced will be used;
(2) specify the rate of the proposed tax, which shall not exceed two dollars ($2.00) on each one thousand dollars ($1,000) of net taxable value of property allocated to the school district under the Property Tax Code;
(3) limit the imposition of the proposed tax to no more than six property tax years; and
(4) indicate the regular election on which the ballot question shall appear or specify the date a special election will be held to submit the question of imposition of the tax to the qualified electors of the district.
B. A resolution submitted to the qualified electors pursuant to Subsection A of this section shall include capital improvements funding for a locally chartered or state-chartered charter school located within the school district if the charter school timely provides the necessary information to the school district for inclusion in the resolution that identifies the capital improvements of the charter school for which the revenue proposed to be produced will be used.
History: 1953 Comp., § 77-25-3, enacted by Laws 1975 (S.S.), ch. 5, § 3; 1986, ch. 32, § 21; 1997, ch. 138, § 1; 2003, ch. 147, § 6; 2009, ch. 258, § 9; 2019, ch. 212, § 222.
The 2019 amendment, effective April 3, 2019, revised the required contents of a resolution on the question of whether a property tax should be imposed for the purpose of funding capital improvements in a school district; in Subsection A, deleted former Paragraph A(3) and redesignated former Paragraph A(4) as Paragraph A(3), and added new Paragraph A(4); in Subsection B, deleted "On or after July 1, 2009".
The 2009 amendment, effective April 8, 2009, added Subsection B.
The 2003 amendment, effective April 4, 2003, substituted "six property tax years" for "four property tax years" at the end of Subsection D.
The 1997 amendment, effective June 20, 1997, substituted "four" for "three" in Subsection D.

Structure 2021 New Mexico Statutes