The real property of a housing project, as defined in Section 3-45-3 NMSA 1978, is declared to be public property used for essential public and governmental purposes and is property of a city of this state and is exempt from taxation until a deed conveying that property to a nonexempt entity is executed and delivered by the city.
History: 1953 Comp., § 14-46-19, enacted by Laws 1965, ch. 300; 1979, ch. 258, § 1.
ANNOTATIONSCross references. — For constitutional provision on tax-exempt property, see N.M. Const., art. VIII, § 3.
Inclusion of exempt property on tax roll. — Exempt property should be properly described on the tax roll, should be valued at its proper value and should be listed as exempt. 1955 Op. Att'y Gen. No. 55-6233.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 40 Am. Jur. 2d Housing Laws and Urban Redevelopment § 27.
84 C.J.S. Taxation § 254.