Businesses in Albuquerque’s Downtown and West Central Tax Increment Financing (TIF) districts are now required to use new location codes when reporting their gross receipts tax (GRT), effective July 1, 2025. The new codes are intended to ensure that tax revenues generated within each district are reinvested into those communities through infrastructure projects, business support, beautification, and housing improvements.
“This new reporting requirement gives us the tools to reinvest economic activity back into the neighborhoods that generate it,” said Mayor Tim Keller. “It’s a long-term investment strategy that aligns our financial policies with a shared vision for stronger, more inclusive communities.”
The specific location codes are as follows: Downtown TIF District uses Location Code 02-701 and West Central TIF District uses Location Code 02-703. Businesses affected by this change include storefronts such as restaurants and retail shops, service providers of any kind, construction-related businesses, and property owners who rent or sell property within these districts.
According to city officials, the tax rate itself remains unchanged; only the reporting code is different. This measure aims to make sure local tax dollars are used directly in the areas where economic activity occurs.
“This simple change is a key step in making our redevelopment efforts more targeted and impactful,” said MRA Director Terry Brunner. “It creates a sustainable source of reinvestment that strengthens our ability to plan for Downtown’s future.”
Gross receipts taxes can be filed through the State of New Mexico’s Taxpayer Access Point (TAP) portal or other approved methods. The Metropolitan Redevelopment Agency provides resources online to help determine if a business falls within a TIF boundary and offers guidance on the updated process.
For additional help, business owners can contact the New Mexico Taxation & Revenue Call Center at 1-866-285-2996 or visit the Albuquerque Tax & Revenue Office at 10500 Copper Ave. NE, Suite C.
