- Associated Press - Tuesday, January 13, 2015

ALBUQUERQUE, N.M. (AP) - Bernalillo County officials are recommending a $63 million tax increase to cover a projected budget shortfall for New Mexico’s most populous county.

The Albuquerque Journal (https://goo.gl/yNAz9O ) reports that county commissions were scheduled to consider the proposal Tuesday and that some were cool to the idea.

The proposed gross receipts tax, which is similar to a sales tax, would be three-eighths of a percent, or 38 cents on $100 of purchases.

Officials say the county stands to lose $11 million in annual state funding. But much of the additional money from a tax increase would go toward debt payments.

A signal from the commissioners to move forward with the proposed gross receipts tax would authorize posting of a legal notice. A final decision by the commission would be made in February.

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