New Mexico § 3-63-5 District; authority; creation

New Mexico Statutes

§ 3-63-5 — District; authority; creation

New Mexico § 3-63-5

Ch. 3Municipalities

Art. 63Business Improvement Districts

This text of New Mexico § 3-63-5 (District; authority; creation) 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. § 3-63-5 (2026).

Text

A. A district shall assess a business improvement benefit fee on any real property or business located within the district. B. A district shall include any real property or business that benefits by the improvements set out in the business improvement district plan and that is located within the district's geographic boundaries. C. The district benefit fee assessment schedule shall not include:

(1)governmentally owned real property;

(2)residential real property that is not multifamily residential rental property with at least four units or homeowners associations of multifamily ownership properties;

(3)real property owned by a nonprofit corporation; or (4) residential real property, located within an existing district, that became eligible for a business improvement benefit fee assessme

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A. A district shall assess a business improvement benefit fee on any real property or business located within the district. B. A district shall include any real property or business that benefits by the improvements set out in the business improvement district plan and that is located within the district's geographic boundaries. C. The district benefit fee assessment schedule shall not include: (1) governmentally owned real property; (2) residential real property that is not multifamily residential rental property with at least four units or homeowners associations of multifamily ownership properties; (3) real property owned by a nonprofit corporation; or (4) residential real property, located within an existing district, that became eligible for a business improvement benefit fee assessment after the district was created, unless the ordinance that created the district is amended to include the new business or property after notice is provided and a hearing is held in accordance with Section 3-63-10 NMSA 1978. D. A district may be created by petition of real property owners or by petition of business owners in a proposed district after notice and public hearing.