New Mexico Statutes Chapter 6. Public Finances § 6-35-5. Authority to impose property tax levy

A. the maximum property tax levy the district may impose is five dollars ($5.00) on each one thousand dollars ($1,000) of net taxable value, as that term is defined in the Property Tax Code, which may be used for operation, maintenance and capital improvements, in furtherance of the purposes of the State Fairgrounds District Act;

B. the district may impose a property tax levy only after authorization by a majority of votes cast by the qualified electors of the district in an election held in accordance with the Local Election Act;  and

C. a property tax levy imposed by the district shall not be effective for more than four years.