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HB 613: COLLECTION OF DIVIDED PROPERTY TAXES

An Act Relating To Taxation; Providing For The Collection Of Property Taxes On Real Property Divided Or Combined; Declaring An Emergency.

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MILD HB 613
COLLECTION OF DIVIDED PROPERTY TAXES

Legislative URL:
HB 613 on nmlegis.gov
Emergency Clause:
Yes
Germane:
N/A
Location:
- OTHER -
Action:
[24] HJC/HTRC-HJC [36] DP/a-HTRC [39] DP - PASSED/H (63-0) [40] SCORC/SFC-SCORC API.
Issue(s):

Related Legislators

Bill Sponsor:

Related Documents

Downloads:
Introduced
HJC Committee Report
HTRC Committee Report
Final House Vote
Fiscal Impact Report
Summary

This bill requires a county to collect the property tax on a piece of real estate that is divided or combined immediately. The county may use the prior year’s tax rate and value if those have not yet been determined for the current year. The County must decline to file or process a plat, deed or other document that is used to divide or combine the property until the taxpayer pays the property tax.

A benefit of this bill might be that it could help prevent the loss of property taxes when the division or combining of property jeopardizes the collection of property taxes, such as when a subdivision fails. Another benefit of this bill may be that it might serve as a deterrent to hasty lot splits, which in turn might have a negative effect on an area’s growth and density.

This bill is similar, but not a companion, to Senate Bill 406.

Outcome: HB 613 passed the House (63-0) and died in the Senate Corporations and Transportation Committee.

Date of Summary:  2/18/13; Updated 5/15/13