{"data":{"id":"us-nm/4-55b-3","jurisdiction":"us-nm","citation":"4-55B-3","heading":"Authorization for a county to impose an historic building improvements tax; resolution; election required.","body":"A. The governing body of a county may adopt a resolution authorizing the imposition of a property tax upon the taxable value of property in the county for the purpose of making historic building improvements. The total tax imposition that may be authorized under the Historical [Historic] Building Improvements Act shall not exceed a rate of one dollar ($1.00) on each one thousand dollars ($1,000) of taxable value of property in the county and shall be imposed for a period not to exceed four years.\nB. The tax authorized pursuant to Subsection A of this section shall not be imposed unless the question of authorizing the imposition of the tax is submitted to the voters of the county.\nC. The resolution adopted pursuant to Subsection A of this section shall specify:\n(1) the rate of the proposed tax;\n(2) the date an election will be held to submit the question of imposition of the tax to the voters of the county;\n(3) the period of time the tax is authorized to be imposed; and\n(4) the proposed use of the revenues from the proposed tax.","path":["Chapter 4 - Counties","ARTICLE 55B Historic Building Improvement Act"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18505/index.do","current_through":"2026-07-01","vintage":"","retrieved_at":"2026-09-03T15:02:19Z","sha256":"65723ae052623c88bfea4185bf869666b7b09d70cfd195c2f7cc05c14269b435","source_id":"us-nm","stale":false,"prev":"us-nm/4-55b-2","next":"us-nm/4-55b-4"},"notice":"GroundRules: Original legal text. Not legal advice."}