TODAY'S TOP STORIES: Realtors challenge proposed Santa Fe tax.
A realtors group and three property owners have filed suit to thwart Santa Fe's effort to tax high-end home sales, the Santa Fe New Mexicans reports.
The paper says:
A state District Court lawsuit filed on behalf of the Santa Fe Association of Realtors and three property owners aims to thwart the tax before voters have a chance to weigh it in a special election scheduled for March.
The City Council decided last month to put the proposal to a vote, asking for permission to levy a 1 percent fee the portion of a home sale that exceeds $750,000. For an $800,000 home, for example, the fee would be $500. If a majority of voters approve, the proceeds from the tax would help create housing for people who work in the city, and the city would be the first in the state to enact such a measure.
The Clovis News Journal reports that the backers of a proposed racetrack in Tucumcari pitched the idea to the New Mexico Racing Commission, saying that it would bring dollars to the state from Texas as Texans attend events.
Don Chalmers, the Albuquerque car dealer, is the majority owner of the Coronado Partners, LLC. He made his pitch to the five-man New Mexico Racing Commission, before a crowd of about 1,200 people at the Tucumcari Convention Center, the paper reported.
Chalmers told commissioners that In the first year, Coronado Park is projected to make $12 million in operating revenues, of which 5 percent would be distributed among the public ownership groups of Quay County, Tucumcari and the the villages of San Jon and Logan, after a deduction for debt service, said an investor in Chalmers’ group.
In a sign of the times, Albuquerque Public Schools teachers will get a 2 percent raise, but some of that will go to pay for higher health care premiums, the Albuquerque Journal reports.
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