Voting for Bond B in the 2012 general election will not result in any increase in property taxes for any New Mexico property owner.
According to the New Mexico State Board of Finance,
“The maximum size of the bonds is $140.2 million. Based on current projections, the State Board of Finance estimates that this is the maximum bond size that can be issued while keeping the State property tax mill levy roughly flat at the current rate of 1.36 mills. If all three ballots are approved by the voters in November 2012, the average cost to the owner of a property worth $100,000 over a 10-year period will be $8.04 per year. Of that $8.04 average cost per year, $6.88 is attributable to the higher education ballot, $0.59 to the senior facilities ballot, and $0.56 to the library acquisitions ballot. Absent voter approval of the ballots, the State property tax mill rate could be expected to decline slightly.”
The annual cost of GO Bond B, $0.56, is part of a total bond cost that will keep property tax levels flat.