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Sun July 4, 2010
Federal Boost For NM Counties
By KRWG News
New Mexico – New Mexico counties will share in more than $32 million in payment-in-lieu of taxes funds, which compensate them for federal lands such as national parks and military bases that local governments cannot tax.
Democratic U.S. Sen. Jeff Bingaman who announced the funding says it's an extremely important revenue source, especially in these difficult economic times.
Among the counties receiving the most funds are Eddy, with $3.1 million; Chaves and Dona Ana, at about $2.8 million each; Otero, at nearly $2.6 million; and San Juan and Sandoval, both receiving more than $2 million.
Curry County is the only one of New Mexico's 33 counties that does not get the so-called PILT funds.
Copyright 2010 The Associated Press.