New Mexico § 5-11-23 - District taxes; annual financial estimate; annual financial estimate and budget; certification to local government division

§ 5-11-23. District taxes; annual financial estimate; annual financial estimate and budget; certification to local government division

A. All property taxes for the operation and maintenance expenses of the district shall

not exceed an amount equal to three dollars ($3.00) per one thousand dollars ($1,000)

of net taxable value for all real and personal property in the district, unless a

higher rate is approved by a vote of the qualified electors voting at an election

conducted pursuant to the provisions of the Local Election Act not less than three

years after the date of the formation of the district. B. Once approved at an election or, in the case of a special levy, by resolution of

the district board, the maximum rate of a property tax shall remain in effect until

increased or decreased at a subsequent election, and the maximum rate of a special

levy shall remain in effect until increased or decreased by resolution of the district

board at a subsequent hearing. C. If a maximum property tax rate is in effect, the district board, on petition of

twenty-five percent of the qualified electors, or by the owners of twenty-five percent

of the land area of the district, shall call an election pursuant to the provisions

of the Local Election Act to reduce the maximum tax rate but not below the lesser

of that rate determined by the district board to be necessary to maintain the district's

facilities and improvements where the tax was authorized for operation and maintenance,

or the actual rate then in effect, but in no event shall the rate be reduced below

the rate necessary to satisfy the district's obligations in connection with any outstanding

bonds issued pursuant to the Public Improvement District Act. D. If a maximum special levy is in effect, the district board, on petition of twenty-five

percent of the qualified electors, or by the owners of twenty-five percent of the

land area of the district, shall hold a hearing to determine whether to reduce the

maximum special levy but not below the lesser of that rate determined by the district

board to be necessary to maintain the district's facilities and improvements, where

the special levy was authorized for operation and maintenance, or the actual rate

then in effect, but in no event shall the rate be reduced below the rate necessary

to satisfy the district's obligations in connection with any outstanding bonds issued

pursuant to the Public Improvement District Act. E. Upon presentation to the district board of a petition signed by the owners of a

majority of the property in the district, the district board shall adopt a resolution

to reduce or eliminate the portion of the tax or special levy, beginning the next

fiscal year, required for one or more services or enhanced services specified in the

petition. Signatures on a petition to reduce or eliminate a tax or special levy shall be valid

for a period of sixty days. F. When levying property tax or imposing a special levy, the district board shall

make annual statements and estimates of the operation and maintenance expenses of

the district, the costs of public improvements to be financed by the taxes or special

levy and the amount of all other expenditures for public infrastructure improvements

and enhanced services proposed to be paid from the taxes or special levy and of the

amount to be raised to pay general obligation bonds of the district or special levy

bonds, all of which shall be provided for by the levy and collection of property taxes

on the net taxable value of the real property in the district or by the imposition

and collection of special levies. The district board shall file the annual statements and estimates with the clerk. The district board shall publish a notice of the filing of the estimate, shall hold

hearings on the portions of the estimate not relating to debt service on general obligation

bonds or special levy bonds and shall adopt a budget. The district board, on or before the date set by law for certifying the annual budget

of the municipality or county, shall fix, levy and assess the amounts to be raised

by property taxes or special levies of the district and shall cause certified copies

of the order to be delivered to the local government division of the department of

finance and administration. All statutes relating to the levy and collection of property taxes, including the

collection of delinquent taxes and sale of property for nonpayment of taxes, apply

to district property taxes and to special levies, except to the extent that the district

board has provided for other imposition, collection and foreclosure procedures in

connection with special levies.