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Investor Information

Information about investing with the City of Albuquerque.

Information included in this "Investor" section of the website, though a part of the City's website, is not intended to be the basis of, and should not be relied upon, in making an investment in City obligations.

As part of City of Albuquerque's continuous disclosure undertaking, the City has made certain information pertaining to the operations and financial condition of the City available in this section of the website.

Sources of Funding

Taxes and fees are the major sources of funding for city operations and payment of bonds for capital projects.

Property Tax

The City of Albuquerque has the authority to levy a tax on residential and commercial property. The property tax funds a limited amount of City Operations and the City's general obligations as well as credit support to city sales-tax revenue bonds. Property taxes are assessed and collected by Bernalillo County, who makes the distribution to the City.

Franchise Fees

The fee charged is levied on utilities to compensate the City for the use of its streets, right-of-way, airways, etc. and to provide the residents of Albuquerque various utility services. These fees are collected by the utilities, who make payment to the City. The City audits the utilities for compliance.

Lodger's Tax

Taxes on hotel room rental and short-term rentals are used to promote tourism and support convention center operations. These taxes are collected by lodging establishments and paid to the City, who audits the establishments for compliance.

Per City Ordinance, the City Collects Lodgers’ Taxes and Hospitality Fees from all Lodging Establishments within the City:

  • 5% - Lodgers’ Tax on all room revenue – per City Ordinance, Section 4-4-1 et seq. ROA 1994;
  • 1% - Hospitality Fees on all room revenue – per City Ordinance, Section 4-1-1 et seq. ROA 1994;
  • Revenues are due on the 25th day of each month for prior month and collected by the City’s Treasury Division.

Adoption of O-19-71 Amending Section 4-4-1 Et Seq., ROA 1994, The Lodgers’ Tax Ordinance, To Include The Definition Of Marketplace Provider, Eliminate An Exemption, And Require Marketplace Providers To Collect And Remit Occupancy Taxes; And Amending Section 4-8-1 Et Seq., ROA 1994, The Hospitality Fee Ordinance, To Include The Definition Of Marketplace Provider, Eliminate An Exemption, And Require Marketplace Providers To Collect And Remit Hospitality Fees. (Winter by request) (pam)

Summary

This ordinance seeks to amend both the Lodgers Tax Ordinance and the Hospitality Fee Ordinance in order to update both ordinances subsequent to two changes made at the state level this past Spring. During the 2019 New Mexico State Legislative session two bills were passed and signed by Governor Lujan Grisham that relate to tax collection and Short Term Rentals. Senate Bill 106 removed the exemption to pay Occupancy Taxes for lodging premises with three rooms or less, and House Bill 6 made marketplace providers responsible for collecting gross receipts taxes by imposing a collection obligation on all online platforms that facilitate a transaction of goods or services.

This ordinance makes the following changes to both the Lodgers Tax Ordinance and the Hospitality Fee Ordinance, beginning January 1, 2020.

  • Adds a definition for a “Marketplace Provider” (i.e. Airbnb, VRBO, Expedia etc.)
  • Removes the “three room exemption”
  • Lists the responsibilities of a Marketplace Provider, including the collection of occupancy taxes and hospitality fees and the provision of the following data: the names of the persons responsible for each such listing, the address of each such listing, the length of stay for each such listing and the price for each stay.

Email questions to: [email protected]

Gross Receipts Tax

Largest funding source for day-to-day operations of government activities as well as credit support to city sales-tax revenue bonds. These taxes are collected at the point of sale and paid to the state, who makes the distribution to the City.