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New Mexico Statutes Chapter 5. Municipalities and Counties § 5-15-9. Formation of a district

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

A. If the formation of the tax increment development district is approved in accordance with the provisions of Section 5-15-8 NMSA 1978, the governing body shall deliver a copy of the resolution ordering formation of the tax increment development district to each of the following persons or entities:

(1) the county assessor, the county treasurer and the clerk of the county in which the district is located;

(2) the school district within which any portion of the property located within a tax increment development area lies;

(3) any other taxing entities within which any portion of the property located within a tax increment development area lies;

(4) the taxation and revenue department;

(5) the local government division of the department of finance and administration; and

(6) the director of the legislative finance committee.

B. A notice of the formation showing the number and date of the resolution and giving a description of the land included in the district shall be recorded with the clerk of the county in which the district is located.

C. A tax increment development district shall be a political subdivision of the state, separate and apart from a municipality or county.

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Cite this article: FindLaw.com - New Mexico Statutes Chapter 5. Municipalities and Counties § 5-15-9. Formation of a district - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-5-municipalities-and-counties/nm-st-sect-5-15-9/

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