QUALIFYING EXEMPTIONS

DO YOU QUALIFY FOR ANY OF THESE EXEMPTIONS?


Veteran Exemption

First possible exemption:

  • 100% Disabled Veteran Exemption which is a full 100% exemption from property tax only on the Veteran’s primary residence

Second possible exemption:

  • $4,000 per Veteran which is subtracted from the taxable value of your home, land or can be used on tax reduction of your motor vehicle

*Upon the transfer of the principal place of residence of a disabled veteran or of a surviving spouse of a disabled veteran entitled to and granted a disabled veteran exemption, the disabled veteran or the surviving spouse may choose to: (1) maintain the exemption for that residence for the remainder of the year, even if the residence is transferred during the year; or (2) remove the exemption for that residence and apply it to the disabled veteran's or the disabled veteran's surviving spouse's new principal place of residence, regardless of whether the exemption was applied for and claimed within thirty days of the mailing of the county assessor's notice of valuation made pursuant to the provisions of Section 7-38-20 NMSA 1978.  (7-37-5.1 NMSA 1978.)

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Head of Household Exemption

The state statue on this reads: Head of the Household means an individual
New Mexico resident who is either:

  • Married;
  • Widow or Widower;
  • Head of Household furnishing more than one half the cost of support of any related person; or
  • A single person; and
  • Must be the primary property owner residing in the State of New Mexico.

Those eligible for this exemption must apply for it only once to receive it in subsequent years. Only one family exemption per household is permitted.

The Head of the Household exemption for 1988 was $200. In 1989 and 1990, the amount was $800; and in 1991 and 1992 it was $1,400. In 1993 it capped at $2,000. (7-38-17 NMSA)


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65 yrs or Older or Disabled Low-Income Value Freeze

  • Proof of Age or Disability Status
  • $32,000 or less in Modified Gross Income (all income) amount can change annually (7-37-21.3 NMSA)

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