College District Tax Act
Sections 21-2A-1 through 21-2A-17 NMSA 1978 may be cited as the "College District Tax Act".
The College District Tax Act applies to all educational institutions organized pursuant to the provisions of Chapter 21, Article 14 [13] NMSA 1978, the Community College Act, Chapter 21, Article 17 [16] NMSA 1978, the Technical and Vocational Institute Act [Chapter 21, Article 16 NMSA 1978] and the Off-Campus Instruction Act [21-14A-1 to 21-14A-10 NMSA 1978].
The purpose of the College District Tax Act is to provide a uniform procedure for the authorization, imposition and collection of tax levies for the operation of college districts and the issuance of college district general obligation and revenue bonds for capital improvements in a college district. The College District Tax Act was amended per Laws 2019, Chapter 252 - Senate Bill 322, which added a new section to allow College Districts to enter into Lease Purchase Arrangements.
In each college district, the board may call an election within the college district for the purpose of authorizing that board to levy taxes on all taxable property within the district to be used for current operations, maintenance and capital improvements of the college district. The taxes, if authorized as provided in the College District Tax Act, shall be in addition to the taxes authorized for the payment of general obligation bonds pursuant to the provisions of the College District Tax Act. This election shall be for the purpose of allowing the electors, as the term "electors" is used in Article 8, Section 2 of the constitution of New Mexico, to vote on whether to allow the levy and on a specific limitation not to exceed five dollars ($5.00) on each one thousand dollars ($1,000) of net taxable value, as that term is defined in the Property Tax Code [Chapter 7, Articles 35 to 38 NMSA 1978]. If approved by a majority of the electors voting on the issue, the board of county commissioners, at the direction of the board, shall levy the taxes in an amount certified by the commission on higher education [higher education department] as necessary to meet the annual budget approved by the commission on higher education [higher education department], but in no event shall the taxes levied exceed the rate limitation approved by the electors nor shall it exceed any lower maximum rate required by operation of the rate limitation provisions of Section 7-37-7.1 NMSA 1978 applied to the rate limitation approved by the electors.
The issuance of Educational Technology Notes (ETNs), as noted under the Lease Purchase Arrangement sections of the College District Tax Act, do not always require voter approval. Institutions must follow the provisions as set forth within this statute, as well as the NMHED established timeline in regards to the issuance of bonds for inclusion on the Debt Service Requirement Certification form, which is utilized for the setting of the debt service property tax rate for each applicable tax year.
Full text of College District Tax Act is found on link below, under Additional Information.
Debt Service & Lease Purchase Arrangement Requirement Template (Tax Year 2023 - FY24 Revenue)
FY24 Mill Levy-Debt Svc Cert TY2023 NMHED Certified to DFA-LGD Sept2024
FY23 Mill Levy-Debt Svc Cert TY2022 NMHED Certified to DFA-LGD v2 24Aug2022
FY22 Mill Levy-Debt Svc Cert TY2021 HED Amended & Certified to DFA-LGD 9Sept2021
FY22 Mil Levy-Debt Svc Cert for TY2021_NMHED Certified to DFA-LGD 13Aug2021
FY21 Mill Levy and Debt Service Certification for TY2020 - NMHED Signed & Certified 20Aug20
FY20 Mill Levy and Debt Service Certification for TY2019 20Sept19
FY19 Mill Levy and Debt Service Certification for TY2018 15Aug18 - HED Signed and Certified
Historical Rates
Historical Certified Operational & Debt Service Mill Levy Tax Rates Summary TY17-TY21
Historical Certified Operational & Debt Service Mill Levy Tax Rates Summary TY09-TY20
Additional Information
College District Tax Act 21-2A-1 thru 21-2A-12 NMSA 1978
College District Lease-Purchase Arrangements 21-2A-13 NMSA 1978
Additional Limitations on Property Tax Rates Section 7-37-7.1 NMSA 1978
Taxation and Revenue Department's Web Map Portal
HED Contact: Interim Institutional Finance Director Gerald Hoehne
