House Passes Plan For Counties To Sell Abandoned Real Property For Which Delinquent Tax Is Due

SENATE News:
 
SANTA FE — Saturday, the House of Representatives passed a plan to make it easier for the state to sell abandoned real property for which delinquent property tax is due.
 
The legislation, House Bill 88, is backed by Rep. Alonzo Baldonado (R-Los Lunas), Rep. Kelly Fajardo (R-Los Lunas), Rep. Gail Armstrong (R-Magdalena), and Sen. Greg Baca (R-Belen).
 
HB 88 creates an online marketplace for the sale of delinquent or abandoned properties. It gives the NM Tax and Revenue Department the flexibility to lower tax penalties and interest on properties if it will make them more attractive to potential buyers. The bill also gives New Mexico land grants the right of first offer on abandoned properties located within the boundaries of the land grant.  
 
The bill was originally developed to address delinquent and abandoned properties within Valencia County, but legislators expanded the scope of the bill after learning other New Mexico counties had a similar need for an online marketplace.  
 
“These abandoned properties are an administrative nightmare for counties. By moving these properties off of the delinquent tax rolls, we can create income for our counties and lower the property tax liability for all residents,” the sponsoring legislators said in a joint statement.    
 
 
HB 88 now moves to the Senate for consideration.
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