Voters in Santa Fe County will decide in November on a three-part, $35 million general obligation bond referendum that officials say will not require significant increases in New Mexico’s property tax levy.
The total includes $19 million for road projects, $10 million for water and wastewater infrastructure, and $6 million for open space and trails.
Scheduled retirement of existing debt will keep the property tax rate at close to current levels, according to county officials.
Approval of all three bond propositions would result in an increase of $34 per year in taxes on a home valued at $300,000, according to Santa Fe County officials. Bond proceeds would fund up to 32 road projects, seven water projects, and five open space and trail efforts.
The New Mexico county’s $136 million of outstanding GO debt has an underlying rating of Aaa from Moody’s Investors Service.