Las Cruces may lose millions in Spaceport tax revenue
Las Cruces, NM (KTSM) — The New Mexico legislature may soon deal Dona Ana county a big tax blow.
A legislative committee Monday endorsed a bill that would stop both Dona Ana and Sierra Counties from using a special Spaceport America tax to fund public schools. 25 percent of the revenues collected from the tax were supposed to go to schools in the county.
However, members of the Finance Authority Oversight Committee in the New Mexico House say the tax creates an inequity in school funding, and that the money should be distributed to schools statewide, not just in the southern part of the state.
The full House will now vote on the bill. If the money is reclassified the Las Cruces district would lose nearly a million dollars every year.