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Under New Mexico property tax law NMSA 1978, Chapter 7, there are two categories of individual property taxation exemptions and several categories of institutional and governmental exemption.

 

 

More information on Veteran Tax Exemptions

Veterans Tax Exemption

Under New Mexico State Statutes, veterans and their surviving spouses are allowed a $4,000 reduction off the assessed value of real property, or a 1/3 reduction on vehicle registrations

Qualifications
(Chapter7, Section 7-37-5, New Mexico Law as amended 1992)

  1. Veteran must provide a copy of DD 214 or equivalent Department of Defense document showing dates of service (both date and place of entry as well as date and place of separation).
     
  2. Service must have been honorable.
     
  3. Veteran must have served on active duty continuously for a period of 90 days. If discharged with less than 90 days of service, such discharge must have been as a result of service incurred disability.
     
  4. Veteran must establish residency in New Mexico. ONLY one of the following will be accepted as proof of residency. (1) copy of voters registration, (2) latest copy of New Mexico state income tax return, (3) two notarized statements from individuals who will verify veterans residency.

    *Surviving spouses must also include a copy of the death certificate along with the above listed information.

    Every veteran who is entitled to a veteran exemption and who does not have sufficient real or personal property to claim the full $4,000.00 exemption may be eligible to claim a reduction in motor vehicle registration fees.

Disabled Veterans Exemption

Under New Mexico State Statutes, disabled veterans and their surviving spouses are allowed a 100% reduction of the assessed value of their real property.

Qualifications
(Article 8, Section 15 of the State Constitution, Chapter 7, Section 7-36-7, Section 7-38-17, and Section 7-38-18, NMSA 1978)

  1. Veteran must have been honorable.
  2. Veteran must be granted 100% service connected disabled status by the US Dept. of Veterans Affairs.
  3. Veteran must establish residency in New Mexico and provide proof of residency.
  4. Veteran must complete the application.
  5. Veteran must provide a copy of the DD214 or equivalent Dept. of Defense document.
  6. Veteran must provide a copy of the official Award Letter from the Veterans Affairs Regional Office.

    *Surviving spouses must also include a copy of the death certificate along with the above listed information.

    Every veteran who is entitled to a veteran exemption and who does not have sufficient real or personal property to claim the full $4,000.00 exemption may be eligible to claim a reduction in motor vehicle registration fees.
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