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| SPONSOR: | Lujan | DATE TYPED: | 02/08/00 | HB | 198 | ||
| SHORT TITLE: | Changes in Property Tax Schedule | SB | |||||
| ANALYST: | Williams | ||||||
| Subsequent
Years Impact |
Recurring
or Non-Rec |
Fund
Affected | ||
| FY00 | FY01 | |||
| No Fiscal Impact | ||||
(Parenthesis ( ) Indicate Revenue Decreases)
Duplicates/Conflicts with/Companion to/Relates to
SOURCES OF INFORMATION
Taxation and Revenue Department (TRD)
SUMMARY
Synopsis of Bill
The bill would authorize the county treasurer to correct the tax schedule for unlocatable, unidentifiable or uncollectible property. The step could only be taken after thorough research with verification by the county assessor or appraiser, with notification to TRD and the county clerk. Effective date of the bill is July 1, 2000.
Significant Issues
TRD notes the most common types of property that would be stricken from the tax roles would be property that no longer exists such as "a cow that died or had been removed from the state." TRD indicates 7-38-81 NMSA 1978 effectively eliminates unpaid property taxes after 10 years. This bill has the effect of moving the 10-year limit to 3 years for personal property only.
FISCAL IMPLICATIONS
No fiscal impacts on state or local funding sources.
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