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City forecloses on 161 SAD properties in Rio Rancho
Rio Rancho began foreclosure on 161 properties delinquent on special assessment district taxes to fund infrastructure bonds. Most are vacant lots with some occupied properties. Foreclosure proceeds repay the debt. private owners have a year to redeem. As of Sept 1, SAD6 had 121 arrears, SAD7a 25, SAD8 68 delinquent.
MENTIONED IN THIS ARTICLE
Rio Rancho
Peter Wells
Wells
Morandho.nm
State Department of Finance and Administration