2019 New Mexico Statutes
Chapter 7 - Taxation
Article 38 - Administration and Enforcement of Property Taxes
Section 7-38-69 - Distribution of amounts collected under installment agreements.

Amounts collected under installment agreements entered into by the department that represent delinquent taxes shall be remitted to the county treasurer of the county to which the net taxable value of the property is allocated for distribution to the governmental units. Amounts collected that represent penalties, interest and costs shall be retained by the department in accordance with Section 7-38-71 NMSA 1978. Money collected shall be remitted at the times and in the manner required by regulations of the department of finance and administration. When the department has received payment in full of delinquent taxes, penalties, interest and costs paid under an installment agreement, the department shall notify the county treasurer of that fact, and the county treasurer shall make an entry on the property tax schedule indicating that the delinquent property taxes, penalties and interest have been paid.

History: 1953 Comp., § 72-31-69, enacted by Laws 1973, ch. 258, § 109; 1985, ch. 109, § 11; 1990, ch. 22, § 9; 1995, ch. 12, § 13.

The 1995 amendment, effective June 16, 1995, substituted the language beginning "interest and costs" for "and interest shall be retained by the department for use, subject to appropriation by the legislature, in the administration of the Property Tax Code" at the end of the second sentence, deleted the former third sentence which read "Amounts collected that represent costs shall be remitted to the state treasurer for deposit in the state general fund", and inserted "and costs" near the beginning of the fourth sentence.

The 1990 amendment, effective May 16, 1990, substituted "department" for "division" in the first sentence, rewrote the second sentence which read "Amounts collected that represent penalties and interests shall be remitted to the appropriate county treasurer for deposit in the county general fund" and, in the final sentence, substituted "department has received" for "county treasurer has received" and "the department shall notify the county treasurer of that fact and the county treasurer shall make an entry" for "he shall make an entry".