3-45-19. Exemption of property from taxation.
74 words·~1 min read·
/nm/chapter-3-municipalities/article-45-municipal-housing/3-45-19·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.
History: 1953 Comp., § 14-46-19, enacted by Laws 1965, ch. 300; 1979, ch. 258, § 1.