CITY of ALBUQUERQUE
TWENTY SEVENTH COUNCIL
COUNCIL BILL NO. O-26-42 ENACTMENT NO. ________________________
SPONSORED BY: Brook Bassan and Klarissa J. Pe?a
ORDINANCE
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Imposing A Municipal Gross Receipts Tax And Providing For The Use Of Revenues For Municipal Operations And Maintenance And Cost-Of-Living, And For Municipal Community Enhancement Projects, Including Related Debt Service (Bassan, Pe?a)
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WHEREAS, the City seeks to impose a municipal gross receipts tax to provide a balanced, stable, and sustainable revenue source to support larger-scale generational municipal capital improvements and their necessary operational and maintenance costs, address documented compensation gaps affecting the City's workforce, and maintain access to essential City services, thereby strengthening infrastructure, workforce stability, and long-term fiscal health for the residents of Albuquerque; and
WHEREAS, revenues generated are necessary to support the ongoing operating and maintenance expenses of current and newly constructed City facilities, ensuring these public investments remain open, staffed, and fully functional for city residents; and
WHEREAS, the City Council, as the legislative body of the City of Albuquerque, holds a fiduciary duty to steward and appropriate taxpayer dollars responsibly and in the highest regard for fiscal integrity, transparency, and long-term financial sustainability.
BE IT ORDAINED BY THE COUNCIL, THE GOVERNING BODY OF THE CITY OF ALBUQUERQUE:
SECTION 1. Imposition of Tax. Pending voter approval, there is imposed on any person engaging in business in this municipality for the privilege of engaging in business in this municipality an excise tax equal to four thousand eight hundred seventy-five ten-thousandths of one percent (0.4875%) of the gross receipts reported or required to be reported by the person pursuant to the New Mexico Gross Receipts and Compensating Tax Act as it now exists or...
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