New Mexico § 22-25-3 Authorization for local school board to submit question of

New Mexico Statutes

§ 22-25-3 — Authorization for local school board to submit question of

New Mexico § 22-25-3

Ch. 22Public Schools

Art. 25Public School Capital Improvements

This text of New Mexico § 22-25-3 (Authorization for local school board to submit question of) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 22-25-3 (2026).

Text

capital improvements tax imposition. A. A local school board may adopt a resolution to submit to the qualified electors of the school district the question of whether a property tax should be imposed upon the net taxable value of property allocated to the school district under the Property Tax Code [Chapter 7, Articles 35 to 38 NMSA 1978] at a rate not to exceed that specified in the resolution for the purpose of capital improvements in the school district. The resolution shall:

(1)identify the capital improvements for which the revenue proposed to be produced will be used;

(2)specify the rate of the proposed tax, which shall not exceed two dollars ($2.00) on each one thousand dollars ($1,000) of net taxable value of property allocated to the school district under the Property Tax Code;

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capital improvements tax imposition. A. A local school board may adopt a resolution to submit to the qualified electors of the school district the question of whether a property tax should be imposed upon the net taxable value of property allocated to the school district under the Property Tax Code [Chapter 7, Articles 35 to 38 NMSA 1978] at a rate not to exceed that specified in the resolution for the purpose of capital improvements in the school district. The resolution shall: (1) identify the capital improvements for which the revenue proposed to be produced will be used; (2) specify the rate of the proposed tax, which shall not exceed two dollars ($2.00) on each one thousand dollars ($1,000) of net taxable value of property allocated to the school district under the Property Tax Code; (3) limit the imposition of the proposed tax to no more than six property tax years; and (4) indicate the regular election on which the ballot question shall appear or specify the date a special election will be held to submit the question of imposition of the tax to the qualified electors of the district. B. A school district that has one or more charter schools located within the school district boundaries shall collaborate with the charter schools to establish a process through which the charter schools submit necessary information to the school district for inclusion in the resolution. This process shall include: (1) identification of the capital improvements of the charter school for which the revenue proposed to be produced will be used; (2) a requirement that necessary information be submitted to the school district no later than June 1 of the calendar year in which the local school board will consider the resolution; and (3) the point of contact in the school district to which the charter school is to submit the information. C. A resolution submitted to the qualified electors pursuant to Subsection A of this section shall include capital improvements funding for a locally chartered or state- chartered charter school located within the school district if the charter school has complied with the process outlined in Subsection B of this section.