New Mexico § 5-9-13 - Tax increment method approval
Full text of New Mexico New Mexico Statutes Annotated § 5-9-13 — Tax increment method approval, with citation guidance and answers to common questions.
§ 5-9-13. Tax increment method approval
The tax increment method shall be used only upon prior approval by a majority of the
units of government participating in property tax revenue derived from property within
an enterprise zone project. The local government administering the enterprise zone shall request in writing
such approval for a period of no more than five years for property included in the
tax increment funding. The governing body of each other participating unit shall approve or disapprove
by ordinance or resolution the use of the method for their respective units. All participating units shall notify the local government seeking approval within
thirty days of receipt of the request. Upon approval by a majority of the participating units of the tax increment method
of financing, it shall be deemed approved for the period requested.
Frequently Asked Questions About New Mexico § 5-9-13
What does New Mexico Statutes Annotated § 5-9-13 cover?
Section 5-9-13 ("Tax increment method approval") is part of the New Mexico Statutes Annotated, the codified statutory law of New Mexico. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Mexico § 5-9-13?
A common citation format is "New Mexico Statutes Annotated § 5-9-13" (New Mexico). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Mexico law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Mexico official source linked on this page or consult a licensed New Mexico attorney.
How does New Mexico § 5-9-13 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Mexico can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Mexico.