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New Mexico

You may be eligible to receive money back

Homeowners and renters are missing out on millions of dollars in tax relief.  Use the resources below to learn more.

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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.

Property Tax Rebate for Elderly (Circuit Breaker)

The benefit is a refundable credit to the applicant’s personal income tax liability. The credit is the amount of property taxes paid that exceed the maximum property tax liability. For renters, the property taxes are considered to be 6% of rent, including any rent subsidy paid by a government entity to your landlord.
Based on income, the maximum liability ranges from $20 to $180, and the total rebate cannot exceed $250.
A separate rebate is available for all low-income homeowners of Los Alamos and Santa Fe counties. This rebate is the amount of taxes that exceed a percentage of income. This additional rebate may not exceed $350. This is in addition to the rebate available to those over 65.

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 and have filed a New Mexico income tax return.
  • 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 Los Alamos and Santa Fe has no age requirement.
  • The applicant’s modified gross income must be less than $16,000 for the prior tax year. The income limit for applicants in Los Alamos and Santa Fe counties is $25,000.
  • You are not eligible to be claimed as a dependent of another taxpayer for 2022.
  • The applicant may not have been an inmate for more than 6 months.

Application Deadline

April 18, 2023

Required Documentation

  • Income Tax Return
  • 2022 PIT-RC Form
  • For all residents, records of rent paid or property taxes paid on your principal place of residence. For Los Alamos or Santa Fe County, records of property tax billed in 2022 on your principal place of residence.

Contact Details

You can find general information about this program on the PIT‑RC, New Mexico Rebate and Credit Schedule Form

 

For questions, call the Return NM Tax Call Center at 1-866-285-2996 or visit https://www.tax.newmexico.gov/send-us-a-message/

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 $40,400 or less in 2022 for the 2023 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

  • Application form from the county where the property is located.
  • New Mexico driver’s license or identification card.
  • Certified copies of relevant documents to prove primary residence. This includes physical address of the proprty, legal description, uniform property code (UPC), and other property tax identification numbers or codes.
  • Copies of state and federal income tax returns or other proof of income. If you didn’t file an income tax return, provide year end Social Security statements, year end retirement or pension statements and any other documents showing gross income.

Contact Details

Questions about this program should be directed to your county assessor. Click the link below to locate yours:

Listing of New Mexico County Assessors & Treasurers contact information

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.

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