We want all voters to stay informed. Here is what you need to know about the upcoming CNM Bond Election. Early voting open until January 30.
Here is some important information voters should know:
1. Passing the CNM $84 million Bond will nearly double the property tax capital mil levy rate for all of Bernalillo County, Rio Rancho and Corrales.
2. Currently, homeowners in CNM’s district pay $35.57 in annual taxes on a property worth $200,000. The increase from the bond issue would raise the rate for a $200,000 home to $64.67.
3. CNM says the tax increase is “…critically important…to better serve and educate its growing student body.” FACT IS, CNM student population has declined from 29,948 in 2010 to 25,000 in the spring of 2015. On the list of ‘uses’ for the tax increase is another new school and remodeling of other facilities. With multiple buildings on seven CNM campuses already, why does CNM want to spend more tax payer money at a time when enrollment is down and property taxes are increasing annually?
4. CNM says they have not asked for a tax increase since 1996. FACT is county assessors raise the value on properties 3 percent each year so the amount of tax paid increases even in down real estate markets.
5. CNM determined location of voting sites and left voters in NW Albuquerque, Corrales and Rio Rancho with no early voting sites and only one location open in Rio Rancho on Election Day, February 2nd. Why is CNM limiting access to thousands of voters who will face a property tax increase if the $84 million CNM Bond is approved?.
We understand bond issues provide for improvement of government facilities and often provide jobs. We don’t oppose either, but expect honest information to be published by the benefactors and encourage voters to consider the true need and value of any bond issue before voting.
Comments provided by the NM Business Coalition. You can contact them with questions or comments at nmbiz@nmbizcoalition.org or (505) 836-4223.
