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 Public School District 94
Jurisdiction type
School district
Fiscal year ending In: 
2019
Program name: 
Industrial Revenue Bonds (IRB)
Program purpose
Economic development
Statutory authority
Property Tax Code New Mexico Statutes Annotated 7, 35 to 7,41
Abating jurisdiction(s)
City of Rio Rancho
Applicable taxes: 
Property Tax
Method of abatement
(not specified)
Provisions for recapture
(not specified)
Gross revenue loss
$144,216
Reimbursement / offset
$144,216
Net revenue loss
$0
Type of loss
Passive
Additional notes on dislosure: 
The City will lease the property to Titan City Ceter, LLC which will be sub-leased to Hewlett-Packard Company.