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Chaves County Assessor’s Office |
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HEAD OF FAMILY EXEMPTION
Up to $2000 of the taxable value of residential property subject to property tax is exempt if the property is owned by the head of a family who is a New Mexico resident or if the property is held in a grantor trust established under Sections 671 through 677 of the Internal Revenue Code, as those sections may be amended or renumbered, by a head of a family who is a New Mexico resident.
"Head of a family" as defined in state statute means an individual New Mexico resident who is either: (1) a married person, but only one spouse in a household may qualify as a head of a family; (2) a widow or a widower (3) a head of household furnishing more than one-half the cost of support of any related person; (4) a single person, but only one person in a household may qualify as a head of family; or (5) a member of a condominium association or like entity who pays property tax through the association.
Once the exemption is granted, it is retained for subsequent years without having to reapply. If property changes ownership, the exemption will be removed effective January 1st of the following year. The new owner of the property must apply after January 1st but no later than 30 days after the mailing of the county assessor's notice of value.
VETERAN EXEMPTION
The Veteran's Service Commission determines the eligibility and issues a certificate to all veterans that qualify for the exemption. The exemption for tax year 2003 increased to $2500 from $2000 and is deducted from the taxable value of property owned by a qualified veteran. The exemption will increase to $3000 for tax year 2004. It will increase to $3500 for tax year 2005 and will increase to $4000 for tax year 2006 and subsequent years. Upon receipt of the Certificate of Eligibility from the Veteran Service Commission, the original document should be presented in the Assessor's Office after January 1st but no later than 30 days after the mailing of the county assessor's notice of value. Once the exemption is granted, it is retained for subsequent years without having to reapply. If the property changes ownership, the exemption will be removed on January 1st of the following year and the new owner if eligible for the exemption must apply after January 1st but no later than 30 days after the mailing of the county assessor's notice of value. Surviving spouses may qualify for the exemption by applying to the Veteran Service Commission. Please see the instructions and application under our forms link for the dates of service as specified in the statute and other requirements necessary to apply.
DISABLED VETERAN EXEMPTION
The Veteran's Service Commission determines the eligibility and issues a certificate to all veterans that qualify for the Disabled Veteran Exemption. A disabled veteran as defined in statute means an individual that has been honorably discharged from membership in the armed forces of the United States or has received a discharge certificate from a branch of the armed forces of the United States for civilian service recognized pursuant to federal law as service in the armed forces of the United States and has been determined pursuant to federal law to have a permanent and total service connected disability. The property of a disabled veteran, including joint or community property of the veteran and the veteran's spouse, is exempt from property taxation if it is occupied by the disabled veteran as his principal place of residence or if the property is held in a grantor trust established under Sections 671 through 677 of the Internal Revenue Code, as those sections may be amended or renumbered, by a disabled veteran or the veteran's surviving spouse. Surviving spouses may qualify for the exemption by applying to the Veteran Service Commission. Those receiving the certificate from the Veteran Service Commission should present it to the Assessor's Office after January 1st but no later than 30 days after the mailing of the county assessor's notice of value. This exemption from property taxation does not apply to special benefit assessments such as conservancy district assessments or flood control district assessments. |
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Exemptions |