Santa Fe Approves Mansion Tax
In order to pay for affordable housing proposals, voters in Santa Fe overwhelmingly approved a new tax on homes priced at more than $1 million.
The move is expected to generate about $6 million annually, which will be earmarked for the city’s affordable housing trust fund. It offers opportunities for price-restricted housing, low-income down-payment assistance, and rental aid for those facing eviction or hardship.
Awards are directed to affordable housing agencies to generate matching funds for other sources.
There is no additional tax on the first $1 million, but a $1.2 million home would be liable for a $6,000 hit.
In-N-Out Coming to NM
The popular California-based fast food chain In-N-Out Burger is coming to New Mexico, perhaps as early as 2027.
The chain famous for its hamburgers, sauces, and animal fries first opened in 1948 and was a West Coast phenomenon before spreading across the country. The chain now has nearly 400 restaurants.
Red Flag Gun Training Available
New Mexico Attorney General Raúl Torrez is making courses available for law enforcement officers to better comply with the state’s red flag laws concerning guns.
“We go through hypothetical situations about people in different jurisdictions and how that works, where the venue is properly established, what court to proceed with the filing,” he said.
While the red flag laws are designed to protect the public, there are often concerns about their use. But, the attorney general said, the public should still feel confident when approaching officers about a concern that it will be dealt with properly.
“We have an existing framework that balances the Second Amendment rights of every citizen in the country to keep and to bear arms, but also recognizing that we have important tools to remove weapons from people who are dangerous, or suffering from mental disorders,” he said. “And that it is a balanced and targeted focused approach that we think will help mitigate the chances of mass casualty or mass shooting events.”
Virgin Galactic Announces Layoffs
About 18% or 185 workers will be getting the boot, Virgin Galactic announced following major third-quarter losses.
The California-based space tourism business that has a major presence at the Spaceport America near Truth or Consequences also will pause space flights early in 2024 after its next two launches as it looks to build its next generation of spaceships designed to carry more passengers and fly more frequently while being easier to build and upkeep.
The company reported a loss of $105 million in the third quarter.
The layoffs should be completed by early 2024, reducing payroll to about 840 full-time employees.