Section 5-15-14 - Property tax levy rescission electionA. A property tax levy imposed by a district may be rescinded within the four-year period during which a property tax levy imposed by a district is effective if: (1) thirty-three and one-third percent of the number of persons who voted in the election for the imposition of that property tax levy sign a petition to rescind the property tax levy; and(2) each person who signs the petition is a qualified elector of the district or an owner of real property within the tax increment development area.B. The petition shall be filed with the district board for verification of the signatures, as to both number and qualifications of the persons signing. If the district board verifies that the petition contains the requisite number of signatures by persons qualified to sign the petition pursuant to Subsection A of this section, the question of rescission of the property tax levy imposed by the district shall be placed on the ballot for:(1) a special election held in accordance with the special election procedures of the Election Code [Chapter 1 NMSA 1978] that is called and held within ninety days; provided that the date does not conflict with the provisions of Section 1-24-1 NMSA 1978; or(2) the next occurring regular local election or general election if that election is to be held within less than one hundred twenty days.C. A petition for rescission of a property tax levy imposed by a district may be submitted only once each year during the four-year period during which a property tax levy by a district is effective.Amended by 2019, c. 212,s. 205, eff. 4/3/2019.