Tax increment method; base value for distribution.

  1. Law
  2. New Mexico Statutes
  3. Municipalities
  4. Metropolitan Redevelopment
  5. Tax increment method; base value for distribution.

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If the tax increment method of financing metropolitan redevelopment projects is used, the base value for distribution of property tax revenues shall be the value used in calculating the limit of general obligation indebtedness imposed by the constitution of New Mexico and the statutes of New Mexico.

History: Laws 1979, ch. 391, § 24.

ANNOTATIONS

Cross references. — For constitutional restrictions on municipal indebtedness, see N.M. Const., art. IX, §§ 12, 13.


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