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SB 406 : DIVIDED AND COMBINED PROPERTY TAX COLLECTION

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 SB 406
DIVIDED AND COMBINED PROPERTY TAX COLLECTION

Legislative URL:
SB 406 on nmlegis.gov
Emergency Clause:
Yes
Germane:
N/A
Location:
Signed
Action:
[8] SJC/SFC-SJC [21] DNP-CS/w/o rec-SFC [24] DP - fl/aa- PASSED/S (37-0) [36] HJC/HTRC-HJC [50] w/drn-HTRC [52] DP/a - fl/a- PASSED/H (69-0) [44] s/cncrd SGND (Apr 2) Ch.119.
Issue(s):

Related Legislators

Bill Sponsor:

Related Documents

Downloads:
Introduced
SJC Committee Report
SJC Committee Substitute
SFC Committee Report
Senate Floor Amendment 1
Senate Floor Amendment 2
Final Senate Vote
House Floor Amendment 1
Final House Vote
Fiscal Impact Report
Final Version
Summary

This bill creates a special procedure for the collection of property taxes by a county assessor or treasurer when the property is about to be divided or combined in a way that causes certain results. To use the special procedure, the county assessor or treasurer must have reasonable cause to believe that the property will be divided or combined in a manner that will impede the ability to maintain current property tax assessments and will jeopardize the collection of the tax on that property.

 

The special procedure allows the county assessor or treasurer to:

  • “proceed immediately to determine the value of the property and provide a notice of valuation to the property owner;”
  • “proceed to determine the taxes due on the property that has been divided or combined and proceed to immediately collect the taxes through the taxable year in which the property is divided or combined;” and
  • “decline to process a plat pending taxpayer compliance” with the property tax collection.

 

One possible 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.

 

Date of Summary:  2/5/2013