City Adopts New Tax Codes in Downtown and West Central Communities

ALBUQUERQUE - Effective July 1, 2025, businesses operating within any of Albuquerque’s designated Tax Increment Financing (TIF) districts must report their gross receipts tax (GRT) using a new location code specific to their district.

 

These codes ensure that tax revenues generated in each area are reinvested directly into that community through infrastructure upgrades, business support, beautification, and housing improvements.

 

“This new reporting requirement gives us the tools to reinvest economic activity back into the neighborhoods that generate it,” said Mayor Tim Keller. “It’s a long-term investment strategy that aligns our financial policies with a shared vision for stronger, more inclusive communities.”

 

New Location Codes:

Any business that operates, provides services, or conducts taxable activity within a TIF district must use the corresponding location code when filing GRT. This includes:

This change does not affect the tax rate; it simply changes the reporting code to ensure local tax dollars are captured and reinvested in the area where the activity took place.

 

“This simple change is a key step in making our redevelopment efforts more targeted and impactful,” said MRA Director Terry Brunner. “It creates a sustainable source of reinvestment that strengthens our ability to plan for Downtown’s future.”

 

Gross receipts tax can be filed using the State of New Mexico’s Taxpayer Access Point (TAP) portal or through any other approved reporting method.

 

The Metropolitan Redevelopment Agency’s website provides resources to determine whether a location falls within the TIF boundary and to guide users through the updated reporting process.

 

For further assistance, contact the New Mexico Taxation & Revenue Call Center at 1-866-285-2996 or visit the Albuquerque Tax & Revenue Office at 10500 Copper Ave. NE, Suite C.