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Section 3-35-7 - Lien for assessment; terms of payment.

NM Stat § 3-35-7 (2019) (N/A)
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The amount assessed, including all installment and interest and penalties, is a lien upon each tract or parcel from the time of the assessment and the lien is coequal with the lien of other taxes and prior and superior to all other liens, claims and titles. The governing body may provide for the time and terms of payment of the assessments, the rate of interest on deferred payments, not exceeding six percent a year, and it shall fix penalties for delinquent payments. No sale of the property to enforce any general taxes or other lien shall extinguish the perpetual lien of the assessment and the statute of limitations does not begin to run against the assessment until after the last installment becomes due.

History: 1953 Comp., § 14-34-7, enacted by Laws 1965, ch. 300.

Cross references. — For municipal liens, see 3-36-1 NMSA 1978 et seq.

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Section 3-35-6 - Hearing and determination of objections; modification, confirmation or setting aside of assessment; levy of assessments on the assessment roll.
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Section 3-35-8 - Certificates of liability; description of property covered by assessment; bonds to pay cost of work; foreclosure of assessment lien.