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New Mexico Statutes Chapter 3. Municipalities § 3-63-5. District; authority; creation

Current as of January 01, 2024 | Updated by FindLaw Staff

A. A district shall assess a business improvement benefit fee on any real property or business located within the district.

B. A district shall include any real property or business that benefits by the improvements set out in the business improvement district plan and that is located within the district's geographic boundaries.

C. The district benefit fee assessment schedule shall not include:

(1) governmentally owned real property;

(2) residential real property that is not multifamily residential rental property with at least four units or homeowners associations of multifamily ownership properties;

(3) real property owned by a nonprofit corporation; or

(4) residential real property, located within an existing district, that became eligible for a business improvement benefit fee assessment after the district was created, unless the ordinance that created the district is amended to include the new business or property after notice is provided and a hearing is held in accordance with Section 3-63-10 NMSA 1978.

D. A district may be created by petition of real property owners or by petition of business owners in a proposed district after notice and public hearing.

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Cite this article: FindLaw.com - New Mexico Statutes Chapter 3. Municipalities § 3-63-5. District; authority; creation - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-3-municipalities/nm-st-sect-3-63-5/

Read this complete New Mexico Statutes Chapter 3. Municipalities § 3-63-5. District; authority; creation on Westlaw

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