Gov to sign property tax protection bill

Posted at: 03/14/2013 9:38 PM
By: KOB.com Staff

The governor is expected to sign a bill aimed at preventing unfair tax hikes for homeowners.

It would prevent what happened to Rio Rancho's Mariposa neighborhood.

Property taxes there skyrocketed in order to pay for a $16 million infrastructure bond.

Residents were stuck with the bill when the developer pulled out.

The bill would close a loophole that allowed that to happen.