New Mexico Appendix: 2026 Undesignated Legislative Enactments § *-*-*. Property tax levy

To provide for the payment of the principal of and interest on the bonds issued and sold pursuant to the provisions of the 2026 Capital Projects General Obligation Bond Act, there shall be and there is hereby imposed and levied during each year in which any of the bonds are outstanding an ad valorem tax on all property in the state subject to property taxation for state purposes sufficient to pay the interest as it becomes due on the bonds, together with an amount sufficient to provide a sinking fund to pay the principal of the bonds as it becomes due, and, if permitted by law, ad valorem taxes may be collected to pay administrative costs incident to the collection of such taxes.  The taxes shall be imposed, levied, assessed and collected at the times and in the manner that other property taxes for state purposes are imposed, levied, assessed and collected.  It is the duty of all tax officials and authorities to cause these taxes to be imposed, levied, assessed and collected.