States
New Mexico special assessments: what your board must do.
Condo owners can reject the budget by majority; HOA records due in 10 business days.
Condos
Does the board need an owner vote?
The board must send each owner a summary of a proposed budget and hold an owners' meeting 14 to 30 days after mailing it. The budget stands unless a majority of all unit owners, or a larger vote the declaration sets, rejects it, whether or not a quorum is present. The section does not mention special assessments separately, and the Condominium Act applies to condos created after the Act's effective date, plus older condos whose owners approve and record a majority resolution to come under it.
NMSA 1978, 47-7C-3(C); 47-7A-2What notice must owners get?
Notice of an owners' meeting must be hand-delivered or mailed 10 to 60 days ahead, or emailed if you agreed to electronic notice in advance. It must state the time, place and agenda, including any budget changes.
NMSA 1978, 47-7C-8Your right to see the records
Financial and other association records must be made reasonably available for you or your authorized agent to examine. This section sets no deadline for the association to respond.
NMSA 1978, 47-7C-18Payment plans, late fees and liens
A past-due assessment bears interest at a rate the association sets, up to 18% a year, and the association has a lien on your unit from the time the assessment is due. The lien can be foreclosed like a mortgage and ends unless enforcement starts within three years. Late charges, fines and interest are enforceable as assessments unless the declaration says otherwise, and the association must give a recordable statement of unpaid assessments within 10 business days of your written request.
NMSA 1978, 47-7C-15(B); 47-7C-16HOAs (houses and townhouses)
Owner vote
New Mexico's Homeowner Association Act says the board or the lot owners, as your community documents provide, adopt a budget annually. The Act sets no owner vote on special assessments.
NMSA 1978, 47-16-7(E)Notice
Written notice of an annual or special meeting must be delivered electronically, by hand or by mail 10 to 50 days ahead, and a special meeting notice must state its purpose. Board meetings need at least 48 hours' notice to owners, longer if your documents require it. The board must send you a copy of any proposed budget within 30 calendar days after adopting it.
NMSA 1978, 47-16-17(B)-(C); 47-16-7(E)Records
The association must make its financial and other records available for you to examine during regular business hours within 10 business days of your written request. It cannot charge a fee to let you review them, and copies cost no more than 10 cents a page. Missing the deadline creates a presumption of willful failure, and you are entitled to the greater of actual damages or $50 per calendar day, starting on the eleventh business day.
NMSA 1978, 47-16-5Payment, late fees and liens
The association has a lien on your lot from the time an assessment is due, the full amount of an installment assessment is a lien from the first installment, and the lien can be foreclosed like a mortgage. Within 10 business days of your written request it must give you a recordable statement of unpaid assessments. The Act sets no interest or late-fee cap and no payment-plan right.
NMSA 1978, 47-16-6(B), (D)Summarised from the statutes in November 2026. Not legal advice; your declaration and bylaws may add more rules.