Property interests of a lessee in project property held under a lease with respect to a project authorized by the Enterprise Zone Act [ 5-9-1 to 5-9-15 NMSA 1978] and acquired or held by a local government are exempt from property taxation for a period not to exceed ten years from the date of execution of the first lease of the project by the local government.
§ 7-36-3.2 NMSA 1978
Enterprise zone property; tax status of lessee's interests
1978 Comp., § 7-36-3.2, enacted by Laws 1993, ch. 33, § 16.
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.