What’s a PID? Some quick tips for buying or selling a property in a Public Improvement District.

Wednesday, March 16th, 2016 at 11:58am.

Photo of a park

Public Improvement Districts (PIDS)

Public Improvement Districts (PIDs) are created to help developers finance infrastructure in new communities such as roads, parks and other amenities.

Bonds are sold to finance these improvements and property owners are each assessed a portion of the bonds. This assessment is added to an owner's property tax bill and paid off over time.

New Mexico state law requires that sellers of homes within PIDS disclose certain information to the buyer before accepting offers. There are currently 11 PIDs in the Greater Albuquerque Area.

Albuquerque

Rio Rancho

  • The Boulders
  •  Cabezon
  • Lower Petroglyphs 
  • Mariposa East
  • Montecito Estates
  • Stonegate
  • Volterra
 
  • Ventana West
 
  •  Saltillo
 
  • The Trails
 
  • Mesa del Sol
 

Albuquerque PIDs Contact Information:

Bernalillo County Assessor's Office 501 Tijeras NW Albuquerque, NM 87102 Phone: 505-222-3700. You can also search by address online by clicking here

Rio Rancho PIDs Contact Information:

Department of Financial Services 3200 Civic Circle NE, Ste. 300 Rio Rancho, NM 87144 Phone: 505-891-5010, option 4

Click here to learn more about Public Improvement Districts from the Greater Albuquerque Association of Realtors.

To get PID information on a property you are buying or selling, contact a Realtor or the corresponding Assessor’s office.

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Source: Eva Medcroft, HMHS Editor, Greater Albuquerque Association of REALTORS®