N.M. Stat. § 73-21-21
Sale for delinquencies; purchase by district.
If the taxes levied are not paid as herein provided, then delinquent real property shall
be sold at the regular tax sale for the payment of the taxes, interest and penalties, in the
manner provided by law for selling property for the nonpayment of general taxes. The
board of directors may purchase, in the name of the district, any property which may be
sold for delinquent taxes within the boundaries of the district and the board may take
title to the lands in the name of the district and sell and convey the lands at a price not
less than the taxes, penalty and interest accrued thereon. Delinquent personal property
shall be distrained and sold as provided by law.