|
ORDINANCE 2007-1 An Ordinance authorizing tax liens to be placed on
improvements to real property which are delinquent in the payment of Town
taxes (Leasehold Improvement Tax). Whereas, Section 1701 of the Charter of the Town of
Cochiti Lake specifically grants to the Assembly of the Town of Cochiti
Lake the power and the duty to provide by Ordinance a system for the
assessment, levy, and collection of all Town taxes in order to meet fiscal
responsibilities of the Town; and Whereas, Ordinance 2005-1 establishes the process for
the assessment and collection of Town taxes on improvements to real
property (Leasehold Improvement Tax); and Whereas, Cochiti Community Development Corporation
has directed the Town of Cochiti Lake that tax liens must be authorized
through Ordinance. BE IT ORDAINED that the Town shall cause to be filed with the Pueblo de Cochiti and/or Sandoval County, tax liens on improvements to real property, which are six months past due in payment of Town taxes. Notice of such liens shall be provided to any title company involved in property transactions within the Town of Cochiti Lake. BE IT FURTHER ORDAINED that for each account subject
to lien, the Town shall assess a one-time penalty of 10% of past due tax
liability and include such penalty in the lien; an interest rate of 12%
per annum shall be established on all past-due accounts, and calculated
and compounded at 3% per calendar quarter on all past due accounts, and
such interest shall also be included in the lien. BE IT FURTHER ORDAINED that thirty (30) days after
being advised of the placement of a lien, the account shall be referred to
an agency for collection, and notification given to major credit companies
unless the property owner has made arrangements for payment of Town taxes
with the Town; BE IT FURTHER ORDAINED that this Ordinance shall
supercede any and all prior Ordinances pertaining to the placing of liens
on improvements to real property which are delinquent in the payment of
Town taxes (Leasehold Improvement Tax). This Ordinance shall become effective thirty (30)
days after adoption by the Assembly of the Town of Cochiti Lake. DULY ADOPTED this 24 day of
February 2007, by the Assembly of the Town of Cochiti Lake at a meeting
thereof; at which a quorum was present, 3
voting for and 1 ________________________
_________________________ ________________________
Attest
_________________________
|