NMSA 1978, § 7-38-49 — Unpaid property taxes; imposition of interest

If property taxes are not paid for any reason within thirty days after the date they are
due, interest on the unpaid taxes shall accrue from the thirtieth day after they are due
until the date they are paid. Interest shall accrue at the rate of one percent a month or
any fraction of a month. Interest shall accrue whether or not protests have been
resolved. However, in the case of a timely protest, interest payable shall be computed
on a principal amount equal to the unpaid taxes finally determined to be due upon
resolution of the protest. Interest shall not be imposed on interest or on any penalty.