0001| HOUSE JOINT RESOLUTION 19
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0002| 43rd legislature - STATE OF NEW MEXICO - first session, 1997
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0003| INTRODUCED BY
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0004| BEN LUJAN
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0005|
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0006|
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0007|
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0008|
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0009|
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0010| A JOINT RESOLUTION
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0011| PROPOSING TO AMEND ARTICLE 8, SECTION 1 OF THE CONSTITUTION OF
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0012| NEW MEXICO TO AUTHORIZE THE LEGISLATURE TO LIMIT INCREASES IN
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0013| VALUATION OF RESIDENTIAL PROPERTY FOR PROPERTY TAXATION
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0014| PURPOSES.
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0015|
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0016| BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0017| Section 1. It is proposed to amend Article 8, Section 1
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0018| of the constitution of New Mexico to read:
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0019| "A. Except as provided in Subsection B of this
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0020| section, taxes levied upon tangible property shall be in
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0021| proportion to the value thereof, and taxes shall be equal and
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0022| uniform upon subjects of taxation of the same class. Different
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0023| methods may be provided by law to determine value of different
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0024| kinds of property, but the percentage of value against which
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0025| tax rates are assessed shall not exceed thirty-three and one-
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0001| third percent.
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0002| B. The legislature shall provide by law for the
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0003| valuation of residential property for property taxation
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0004| purposes in a manner that limits annual increases in valuation
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0005| of residential property. The limitation may be applied to
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0006| classes of residential property taxpayers based on owner-
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0007| occupancy, age or income. The limitations may be authorized
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0008| statewide or at the option of a local jurisdiction and may
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0009| include conditions under which the limitation is applied. Any
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0010| valuation limitations authorized as a local jurisdiction option
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0011| shall provide for applying statewide or multi-jurisdictional
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0012| property tax rates to the value of the property as if the
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0013| valuation increase limitation did not apply."
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0014| Section 2. The amendment proposed by this resolution
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0015| shall be submitted to the people for their approval or
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0016| rejection at the next general election or at any special
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0017| election prior to that date which may be called for that
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0018| purpose.
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0019| State of New Mexico
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0020| House of Representatives
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0021|
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0022| FORTY-THIRD LEGISLATURE
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0023| FIRST SESSION, 1997
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0024|
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0025|
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0001| March 4, 1997
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0002|
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0003|
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0004| Mr. Speaker:
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0005|
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0006| Your VOTERS AND ELECTIONS COMMITTEE, to whom has
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0007| been referred
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0008|
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0009| HOUSE JOINT RESOLUTION 19
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0010|
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0011| has had it under consideration and reports same with
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0012| recommendation that it DO PASS, and thence referred to the
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0013| TAXATION AND REVENUE COMMITTEE.
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0014|
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0015| Respectfully submitted,
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0016|
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0017|
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0018|
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0019|
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0020|
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0021| Edward C. Sandoval, Chairman
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0022|
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0023|
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0024| Adopted Not Adopted
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0025|
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0001| (Chief Clerk) (Chief Clerk)
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0002|
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0003| Date
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0004|
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0005| The roll call vote was 5 For 4 Against
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0006| Yes: 5
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0007| No: Bird, Lutz, Nicely, Weeks
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0008| Excused: Buffett, Coll, Sanchez
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0009| Absent: None
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0010|
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0011|
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0012| G:\BILLTEXT\BILLW_97\HJR19 State of New Mexico
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0013| House of Representatives
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0014|
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0015| FORTY-THIRD LEGISLATURE
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0016| FIRST SESSION, 1997
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0017|
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0018|
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0019| March 12, 1997
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0020|
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0021|
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0022| Mr. Speaker:
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0023|
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0024| Your TAXATION AND REVENUE COMMITTEE, to whom has
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0025| been referred
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0001|
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0002| HOUSE JOINT RESOLUTION 19
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0003|
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0004| has had it under consideration and reports same with
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0005| recommendation that it DO PASS.
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0006|
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0007| Respectfully submitted,
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0008|
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0009|
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0010|
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0011|
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0012|
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0013| Jerry W. Sandel, Chairman
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0014|
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0015|
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0016| Adopted Not Adopted
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0017|
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0018| (Chief Clerk) (Chief Clerk)
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0019|
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0020| Date
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0021|
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0022| The roll call vote was 9 For 1 Against
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0023| Yes: 9
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0024| No: Crook
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0025| Excused: Gubbels, Lovejoy, Parsons
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0001| Absent: None
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0002|
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0003|
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0004| G:\BILLTEXT\BILLW_97\HJR19
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