New Mexico Statutes 5-9-14. Tax increment method; base value for distribution
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If the tax increment method of financing enterprise zone projects is used, the base value shall be the value used in calculating the limit of general obligation indebtedness imposed by the constitution of New Mexico and the statutes of New Mexico.
Terms Used In New Mexico Statutes 5-9-14
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.