Who Determines the Mill Rate?

The New Mexico Department of Finance and Administration will determine the rate that each taxing entity will receive, also called Mill Rate. The portion of the taxes received by tax entities such as school districts and municipalities are based on their budgetary needs. Yield control rates place an additional limitation on property tax rates. Yield control rates limit the tax rate when property values are increased due to reassessment.

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1. What is a General Obligation Bond?
2. What is the Current City of Las Cruces GO Bond Outstanding Debt?
3. How much bonding capacity does the City of Las Cruces have for GO bonds?
4. How does the City Pay Down the General Obligation Bonds?
5. What is debt service?
6. What is General Obligation Bond Cycling?
7. Will Property Taxes go Down if I Vote No for the General Obligation Bonds?
8. Will Property Taxes Go Up if I Vote Yes for the General Obligation Bonds?
9. Why Are my Property Taxes Going Up?
10. How are Property Taxes Calculated?
11. What is Assessed Value?
12. What is the Mill Rate?
13. Who Determines the Mill Rate?
14. When the mill rate is established, does it get applied only to existing property or to new property?
15. Will there be future GO Bond Elections?
16. Where can I submit a question?