{"data":{"id":"us-nm/22-26a-8","jurisdiction":"us-nm","citation":"22-26A-8","heading":"Authorization for local school board to submit question of lease purchase tax.","body":"A local school board may adopt a resolution to submit to the qualified electors of the school district the question of whether a property tax at a rate not to exceed the rate specified in the resolution should be imposed upon the net taxable value of property allocated to the school district under the Property Tax Code [Chapter 7, Articles 35 to 38 NMSA 1978] for the purpose of making payments under lease purchase arrangements. The resolution shall:\nA. specify the maximum rate of the proposed tax, which shall not exceed ten dollars ($10.00) on each one thousand dollars ($1,000) of net taxable value of property allocated to the school district under the Property Tax Code;\nB. specify the date an election will be held to submit the question of imposition of the tax to the qualified electors of the district; and\nC. limit the imposition of the proposed tax to no more than thirty property tax years.","path":["Chapter 22 - Public Schools","ARTICLE 26A Public School Lease Purchase Act"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18522/index.do","current_through":"2026-07-01","vintage":"","retrieved_at":"2026-09-03T15:02:19Z","sha256":"ce66655e7bd0230a4fae01100ce37beb673084e19e6057c654e0aabbfa5b19d2","source_id":"us-nm","stale":false,"prev":"us-nm/22-26a-7","next":"us-nm/22-26a-9"},"notice":"GroundRules: Original legal text. Not legal advice."}