Town councilors in Bernalillo are considering a sales-tax hike to promote economic development within the town limits.
If the relevant ordinance is approved, a ballot question will go before voters next year, asking whether the town should impose an excise tax equal to one-fourth of one percent. That means an extra 25 cents on $100 worth of purchases.
New Mexico voters in 1994 approved the Local Economic Development Act (LEDA), which permits state and local governments to offer money, land, buildings and infrastructure to clear the way for certain economic development projects.
That money would come from gross receipts taxes, and may be used to assist concerns such as manufacturers, small-town retailers, federally chartered tribal corporations, commercial enterprises and venues that host cultural programming or farmers’ markets. Bernallillo took in $738,679.43 in gross receipts taxes in the 12 months ending with October 2024, according to the agenda.
Town officials say the question may go on the ballot for the March local election, a statewide local election or the November general election. The effective date of the new tax rate would be the first July 1 after the election in which it is approved.
The measure will be introduced tonight, with final approval possible at the council’s Dec. 8 meeting.
Also on the agenda is a proposed update to the zoning ordinance, which would clarify some language and reflect changes to various regulations and definitions.
Councilors will also consider establishing legislative priorities that include:
- Supporting “tax-reform efforts that will contribute to the diversification and expansion of municipal revenue sources, while protecting existing sources.”
- Supporting the New Mexico Municipal League’s goal of legislation prioritizing funding for upgrading and maintaining water infrastructure in the state’s municipalities.
- Urging state officials to seek solutions to New Mexico’s housing shortage.
- Supporting legislation that marks funding for firefighter and EMS recruitment.
- Supporting the New Mexico Municipal League’s effort to streamline the construction process for shovel-ready water projects by temporarily suspending a requirement for legislative authorization. The league would like to see the New Mexico Water Trust Board empowered to directly approve eligible projects.
HOW TO PARTICIPATE:
WHEN: 6:30 p.m. Nov. 24
WHERE: Bernalillo Council Chambers, 829 Camino Del PuebloVIRTUAL: via Microsoft Teams (Meeting Number/Access Code 218 536 817 300 1; Passcode yS2VR2k1 Phone Conference ID 764 173 264#) or by telephone at 575-323-1898