Property Tax Relief for Veterans
will be on the Ballot in the 2024 General Election
When you vote this year two items will appear on the ballot as two separate constitutional amendments. They will be listed on the ballot after you vote for the candidates. Be sure to VOTE on these to be added to the New Mexico State Constitution.
HJR 5 Extend Veteran Property Tax Exemption – Currently a veteran who is 100 percent disabled and their surviving spouse qualify for a 100 percent property tax exemption on their property that is their primary residence. HJR 5 extends the exemption proportionately to veterans who are less than 100 percent disabled. Example: 60 percent disabled = 60 percent property tax exemption.
HJR 6 Increase Veteran Property Tax Exemption – Currently (since 2006) $4,000 per veteran homeowner is exempted from the valuation of their primary residence. Example: If the home is valued at $100,000, $4,000 is exempted from taxation, so $96,000 would be taxed. The intended value of that benefit has diminished significantly over the years because of the increase in home prices and the cost of living. HJR 6 would increase the property tax exemption for honorably discharged service members and their surviving spouses from $4,000 to $10,000 with an annual adjustment based on inflation.