Homeowners and renters are missing out on millions of dollars in tax relief. Use the resources below to learn more.
New Mexico
You may be eligible to receive money back
New Mexico Program Overview
Property Tax-Aide features two widely available property tax relief programs for older residents. The first is the Property Tax Rebate for Elderly (Circuit Breaker) and the other is Assessment Limitation for Low-income Disabled or Elderly Homeowners.
The information on this page is updated as new information becomes available by the relevant tax agencies.
Property Tax Rebate For Persons 65 or Older
This is a rebate that New Mexico offers for property tax billed or rent paid during the tax year on your principal place of residence in New Mexico. The credit cannot exceed $250 or $125 for married filers filing separately.
A separate rebate is available for low-income homeowners of Los Alamos, Santa Fe, and Doña Ana Counties. Rebate may not exceed $350 or, for a married taxpayer filing a separate return, $175. You do not need to be 65 or older to be eligible for this rebate. If you are a Los Alamos, Santa Fe, or Doña Ana County resident who is age 65 or older on the last day of the tax year, you may be eligible for this rebate AND the property tax rebate for persons 65 or older.
A separate rebate is available for low-income homeowners of Los Alamos, Santa Fe, and Doña Ana Counties. Rebate may not exceed $350 or, for a married taxpayer filing a separate return, $175. You do not need to be 65 or older to be eligible for this rebate. If you are a Los Alamos, Santa Fe, or Doña Ana County resident who is age 65 or older on the last day of the tax year, you may be eligible for this rebate AND the property tax rebate for persons 65 or older.
Eligibility
- Only an applicant’s principal residence is eligible. The surrounding land may not exceed five acres. No property tax rebate is available for property that is not subject to property tax.
- The applicant must be a resident of New Mexico.
- The applicant must have been present in New Mexico for more than 6 months of the tax year.
- The applicant must be 65 years old or older. The separate refund for residents of Los Alamos County, Santa Fe County, or Doña Ana County has no age requirement.
- The applicant’s modified gross income must be less than $16,000 for the prior tax year. The modified gross income limit for residents in Los Alamos, Doña Ana, and Santa Fe counties is $24,000 for the prior tax year.
- Modified gross income (also called MGI) is unique to New Mexico law. In general, modified gross income is all income and other compensation you receive from all sources (regardless of whether that income is taxable by the U.S. Government or the State of New Mexico) for you, your spouse, and your dependents.
- You are not eligible to be claimed as a dependent of another taxpayer for 2024.
- The applicant may not have been an inmate for more than 6 months.
Application Deadline
- April 15, 2025 for mail-in returns
- April 30, 2025 (only for e-returns)
Required Documentation
- 2024 Rebate and Credit Schedule (Form PIT-RC)
- Income Tax Return (PIT-1)
- You'll need to report your modified gross income from all sources, both taxable and nontaxable, such as wages, salaries, Social Security benefits, and unemployment income from 2024
- Even if you are not required to file a PIT-1, and if New Mexico income tax was withheld from your pay, the NM Taxation and Revenue Department recommends that you file for a refund to claim refunds, rebates, and credits
- Collect your records of the property tax billed for 2024 and/or the rent you paid on your principal place of residence
- If the address on your PIT-1 return is not a Los Alamos County, Santa Fe County, or Doña Ana County address, attach a copy of your property tax statement for the Los Alamos County, Santa Fe County, or Doña Ana County property
Resources & How to Apply
To apply:
- Complete both the 2024 Rebate and Credit Schedule (Form PIT-RC) and the Income Tax Return (Form PIT-1).
General Information:
- You can find general information about this program on the Instructions for 2024 PIT-RC New Mexico and Credit Schedule.
Questions:
- Call the Return NM Tax Call Center at 1-866-285-2996.
- Visit New Mexico Taxation and Revenue Department.
Assessment Limitation for Low-income Disabled or Elderly Homeowners (Value Freeze)
The benefit is an assessment freeze of the homeowner’s assessed value for the tax year when the owner first becomes eligible and is in place as long as the owner remains eligible.
Eligibility
- Only single-family dwellings are eligible for participation in the program
- The applicant must be the owner of the property and it must be the applicant’s primary residence.
- Applicants must be either disabled or have reached the age of 65 during the year in which they apply.
- Applicants must have a modified gross income of $42,900 or less in 2024 for the 2025 freeze. The income limit is annually adjusted for inflation.
Application Deadline
- Qualifying applicants must file within 30 days of the date the assessor mails the notice of valuation.
- Applicants must apply annually with the local county assessor where the property is located.
- An owner who has claimed and been allowed the limitation of value for the three previous consecutive tax years need not claim the limitation for subsequent tax years if there is no change in eligibility.
Required Documentation
Proof of Age or Disability:
- For individuals 65+: Copy of your photo ID showing your date of birth.
- For individuals with permanent disability: Copy of the Notice of Award Letter from Social Security or any other document from Social Security indicating disability status, and a copy of the Social Security Benefit Statement (1099).
Income Verification:
- Copies of state and federal income tax forms for the year prior to application (if filed) or any other documents that will provide evidence to the Assessor that the applicant fulfills the income requirements.
Resources & How to Apply
Download an Application: Download here or click the link under the “Your Resources” tab on this page.
Alternatively, you can electronically file your return for free by creating an account on the TAP website, a secure online platform.
Questions: Direct questions about this program to your county assessor. Locate your county assessor here.
Take the Next Step
Take the first step toward property tax relief — use the resources below to find application links or contact your local tax authority for help.
Your state accepts digital and mailed applications
Property Tax-Aide has independently selected the property tax relief programs featured on this website that we think are the most relevant and beneficial to older adults. It is not an exhaustive list of all property tax relief programs available in each state. Please consult your local tax agency for a comprehensive listing of property tax relief programs in your area.