{"data":{"id":"us-nm/6-35-5","jurisdiction":"us-nm","citation":"6-35-5","heading":"Authority to impose property tax levy.","body":"The district may establish a property tax levy upon real property located within the boundaries of the district, with the following limitations:\nA. 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 [Articles 35 through 38 of Chapter 7 NMSA 1978], which may be used for operation, maintenance and capital improvements, in furtherance of the purposes of the State Fairgrounds District Act;\nB. 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 [Chapter 1, Article 22 NMSA 1978]; and\nC. a property tax levy imposed by the district shall not be effective for more than four years.","path":["Chapter 6 - Public Finances","ARTICLE 35 State Fairgrounds District"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18506/index.do","current_through":"2026-07-01","vintage":"","retrieved_at":"2026-09-03T15:02:19Z","sha256":"6668c16aee1a7e529aabef31d6aa8a97e0accc868ac3d3aa01f9e4ab527af0c1","source_id":"us-nm","stale":false,"prev":"us-nm/6-35-4","next":"us-nm/6-35-6"},"notice":"GroundRules: Original legal text. Not legal advice."}