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.
§ 3-45-19 NMSA 1978
Exemption of property from taxation
Known as the Municipal Housing Law
The act spans §§ 3-45-1 to 3-45-9 (25 sections).
1953 Comp., § 14-46-19, enacted by Laws 1965, ch. 300; 1979, ch. 258, § 1.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.