Every spring the Bernalillo County of the Assessor sends out a Notice of Value statement to property owners to notify them of the property valuation for property tax purposes.
Some property owners are eligible for exemptions and a limitation of valuation program through the county and state. Exemptions are applied to the taxable value of the property for those who qualify and complete the application process.
Certain deadlines must be met to receive the exemption prior to the Notice of Value statement being sent out. Eligible property owners must apply 30 days from the mailing of the Notice of Value, which is around the end of April, to receive the following exemptions for the next tax valuation:
• Head of Family Exemption – $2,0000
• Veterans Exemption – $4,000
• 100% Disable Veterans Tax Waiver
• Valuation Freeze Program
Here’s how to apply for a standard Veteran Property Tax Exemption and 100% Disabled Veterans Tax Waiver:
100% Disabled Veteran Property Tax Exemption
The property of a disabled veteran, including joint or community property of the veteran and the veteran’s spouse, may be exempt from property taxation if it is occupied by the disabled veteran as the veteran’s principal place of residence. The county considers a veteran disable when the veteran has been determined by federal law to have a 100% permanent and total service-connected disability. Certain discharges may make a veteran ineligible for this benefit.
Standard Veteran Property Tax Exemption
Up to $4,000 of the taxable value of property, including the community or joint property of husband and wife, subject to the tax is exempt from the imposition of the tax if the property is owned by a veteran or the veteran’s unmarried surviving spouse if the veteran or surviving spouse is a New Mexico resident. Certain discharges may render a veteran ineligible for this benefit.
Steps for applying for the veteran exemption or waiver:
1. Complete the New Mexico Department of Veterans’ Services Application for Veteran Tax Exemption and Disabled Veteran Tax Exemption form
2. Provide a copy of the veteran’s DD 214 (Report of Separation) form for military veterans; a NOAA Form 56-16 for Commissioned Officers discharged from NOAA; a PHS Form 1867 for Uniformed Officers discharged from PHS, or equivalent Department of Defense document (NOTE: any Department of Defense Document, submitted in lieu of a DD 214, which does not verify dates and character of service will not be accepted).
3. Provide a VA Finding of 100% disability permanent and total (P&T) for the disabled veteran exemption.
4. Provide proof of New Mexico residency: Documents accepted as proof of New Mexico residency include a copy of the applicants current New Mexico Driver’s License or ID; a copy of the applicant’s Voter’s Registration; or the latest copy of the applicant’s New Mexico Income Tax Return.
5. Applications can be mailed or brought in person to:
New Mexico Department of Veterans Services
407 Galisteo St. RM#134
Santa Fe, NM 87501-2641
Phone: 1-866-433-8387
The veteran’s application and supporting documents can also be emailed to vet.benefits@state.nm.us.
For more information on property tax exemptions and the value freeze program, visit the Bernalillo County Office of the Assessor website. More information on veteran benefits can be found on the New Mexico Department of Veteran Services website.
