Information for the NEW HOME BUYER

Exemptions:

Exemptions are available for Head of Family and qualifying Veterans. Exemptions may be claimed from January 1st through April 30th of each year at the Chaves County Assessor's Office during the rendition period. Contact the Chaves County Assessor's Office for more information.

 

Mobile Home Sales or Purchases:

If you are moving or selling your mobile home, the Assessor will require the new site address, new mailing address, and new owner's name as it should appear on the new title to be issued by the state Motor Vehicle Department. After all information is taken, the Assessor will send you to the Treasurer's office to get a tax release. The Treasurer will collect all prior and current calendar year taxes before signing and sealing the tax release. Your paper work must then be taken to the Motor Vehicle Department for the changes to be made.

 

Taxes Paid by Mortgage Companies:

If you have a mortgage on your property, your mortgage company usually pays the taxes. If your mortgage company pays your taxes, you will NOT receive a tax bill. However, it is YOUR responsibility to insure that your mortgage company is paying your taxes. You can verify payment of taxes by calling the Treasurer's Office.

 

Credited at Closing:

Since property taxes in New Mexico are based on a calendar year, your closing officer will generally impound from the seller, a pro-rated share of the current year's taxes in advance. The buyer will then be credited with the amount that seller has paid into closing. When the taxes become due, the buyer will be responsible for the entire bill since he has been credited with the seller's pro-rated amount.