Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.
| State: | New Mexico |
| Effected Jurisdiction: | City of Albuquerque |
Jurisdiction type: | Municipality |
| Fiscal year ending In: | 2022 |
| Program name: | Tax Abatement Program - Industrial Revenue Bonds |
| Program purpose: | General Economic Development (IRB) |
| Statutory authority: | Article 32 NMSA 1978 and City ordinance 3-2-15 |
| Abating jurisdiction(s): | Albuquerque, New Mexico |
| Applicable taxes: | Property Tax |
| Method of abatement: | Payment In Lieu of Taxes (PILOT) |
| Provisions for recapture: | (not specified) |
| Gross revenue loss: | $363,011 |
| Reimbursement / offset: | $49,372 |
| Net revenue loss: | $313,639 |
| Type of loss: | Active |
| Additional notes on dislosure: | Provided breakdown by named recipients |
| Document source: | https://www.cabq.gov/dfa/documents/6004-city-of-albuquerque-fy22-acfr-fi... |
