Bernalillo County conducts successful delinquent tax auction raising over $600K

The Sandoval County Board of Finance convened on February 10, 2025, to discuss key financial matters, including the recent delinquent tax auction, community outreach initiatives, and updates on county investments.

The meeting began with a report on the 2024 delinquent tax auction, which took place on October 16, 2024, in Bernalillo. The Treasurer's Office noted that while 72 accounts were initially listed, 101 properties were ultimately sold, generating $600,400 in revenue. The increase in sold properties was attributed to diligent collection efforts, with 701 accounts removed from the auction list due to payments made prior to the sale. The Treasurer's Office emphasized ongoing strategies to minimize losses from delinquent accounts before they are transferred to the Property Tax Division (PTD).

Following the tax auction discussion, the board highlighted the success of the annual Thanksgiving food drive and holiday toy drive. Hundreds of non-perishable food items were collected and delivered to the Sanibel County Fairgrounds, in collaboration with local organizations. The toy drive, co-hosted by the sheriff's office, collected approximately 1,700 toys, a significant increase from the previous year's 1,200, benefiting several Pueblos and local communities.

The meeting continued with updates on the 2024 tax roll, which was processed on October 1, 2024. The Treasurer reported an increase of approximately $22.5 million in the tax roll, with 150,584 parcels now accounted for, reflecting a growth of 739 new parcels. The outreach program has been revamped to engage more rural communities, resulting in a slight increase in collections.

The Treasurer's Office also presented the final tax maintenance schedule for the 2023 tax roll, achieving a collection rate of 97.62% within one year and 99.35% over ten years. The board expressed optimism about collecting over $97 million in taxes in the upcoming half-year.

Mario Templeton, the junior county treasurer, provided insights into gross receipts tax (GRT) collections, reporting $6.4 million for the quarter, which is lower than the previous year but higher than the fiscal year 2022-2023. He also discussed the county's investment strategies, noting a total interest earned of over $2.2 million from January to October 2024, despite a recent drop in interest rates due to Federal Reserve actions.

The meeting concluded with a review of the county's bank balances and investment allocations, with a total of $51.7 million across various accounts. The board acknowledged the challenges posed by declining interest rates but remained focused on strategic reinvestment opportunities.

Overall, the meeting underscored the county's commitment to financial stewardship, community support, and proactive measures to enhance revenue collection and investment management.