Tax Break Tracker Individual Entry
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
Reporting Jurisdiction:
Rio Rancho
Jurisdiction type
:
Municipality

Fiscal year ending In:
2020
Program name:
Titan City Center, LLC Project - Industrial Revenue Bonds Series 2009
Program purpose
:
Economic development

Statutory authority
:
Sections 3-32-1 through 3-32-16, NMSA 1978 Annotated, Exempt from Property Tax under Section 7-36-3(A) NMSA 1978 Annotated

Abating jurisdiction(s)
:
Rio Rancho, New Mexico

Applicable taxes:
Property Tax
Method of abatement
:
Payment in lieu of Taxes (PILOT); Tax exemption

Provisions for recapture
:
by agreement

Gross revenue loss
:
$136,068

Reimbursement / offset
:
$0

Net revenue loss
:
$136,068

Type of loss
:
Active

Additional notes on dislosure:
(none)