This bill amends existing New Mexico tax law regarding the sale of real property due to delinquent property taxes. It changes the time frame for when property taxes are considered delinquent from more than two years to more than four years, requiring county treasurers to prepare a delinquency list by July 1 each year for properties that have been delinquent for this extended period. Additionally, the bill stipulates that real property cannot be sold for delinquent taxes until five years have passed from the date the taxes became delinquent, an increase from the previous three-year requirement.

The bill also outlines the process for notifying the public about the sale of delinquent properties, including the requirement for notice to be published in local newspapers for three weeks prior to the sale. It establishes that the minimum sale price for the property must cover all delinquent taxes, penalties, and costs, and that payment must be made in full at the close of the auction. Furthermore, it allows community land grant-merced boards to match the highest bid at public auctions under certain conditions. The provisions of this act will apply to property tax years beginning on or after January 1, 2026.

Statutes affected:
introduced version: 7-38-61, 7-38-67