Section 4-54-4 - Tax limitation. - New Mexico Statutes

4-54-4. Tax limitation.

The aggregate total of all taxes levied by a community service district for all purposes shall not exceed a rate of ten dollars ($10.00), or any lower maximum amount required by operation of the rate limitation provisions of Section 7-37-7.1 NMSA 1978 upon taxes levied pursuant to the Community Service District Act [4-54-1 to 4-54-5 NMSA 1978], on each one thousand dollars ($1,000) of net taxable value, as that term is defined in the Property Tax Code [Articles 35 to 38 of Chapter 7 NMSA 1978], of taxable property within this community service district.