NMSA 1978, § 7-38-69 — 7-38-69

Distribution of amounts collected under installment
agreements.
Amounts collected under installment agreements entered into by the department that
represent delinquent taxes shall be remitted to the county treasurer of the county to
which the net taxable value of the property is allocated for distribution to the
governmental units. Amounts collected that represent penalties, interest and costs shall
be retained by the department in accordance with Section 7-38-71 NMSA 1978. Money
collected shall be remitted at the times and in the manner required by regulations of the
department of finance and administration. When the department has received payment
in full of delinquent taxes, penalties, interest and costs paid under an installment
agreement, the department shall notify the county treasurer of that fact, and the county
treasurer shall make an entry on the property tax schedule indicating that the delinquent
property taxes, penalties and interest have been paid.