Gov to sign property tax protection bill
Posted at: 03/14/2013 9:38 PM
By: KOB.com Staff
The governor is expected to sign a bill aimed at preventing unfair tax hikes for homeowners.
It would prevent what happened to Rio Rancho's Mariposa neighborhood.
Property taxes there skyrocketed in order to pay for a $16 million infrastructure bond.
Residents were stuck with the bill when the developer pulled out.
The bill would close a loophole that allowed that to happen.