Santa Fe Standard

The Santa Fe County Assessor's Office has announced updates for 2025 that will benefit residents, particularly veterans, and improve community services. Key among these updates is a significant increase in the property tax exemption for veterans. Starting in 2025, veterans will see a reduction in taxable value by $10,000, a considerable jump from the previous $4,000 exemption.

This increase follows approval from voters in 2024 and was enacted through House Bill 47 during the 2025 New Mexico Legislative session, with Governor Michelle Lujan Grisham signing the bill. Collaboration among the New Mexico Department of Taxation and Revenue, New Mexico Counties, the Assessors’ Affiliate, the New Mexico Department of Veterans’ Services, and supportive legislators was crucial in securing this change.

Santa Fe County Assessor Isaiah F. Romero highlighted the significance of this update as "an important step toward honoring the sacrifices of our veterans," noting the potential for considerable tax relief to nearly 5,000 veterans in Santa Fe County.

To incorporate these changes, the Santa Fe County Assessor's Office will dispatch Notices of Value on May 1, 2025. Adjustments in the mailing schedule have led to a new deadline, providing residents 30 days post-mailing to apply for exemptions, file for benefits, or appeal property valuations.

The Assessor's Office emphasizes its commitment to serving the community with transparency and efficiency. Residents seeking further information regarding the Notice of Value, property valuation, or exemptions can contact the Assessor’s Office at (505) 986-6300 or visit their website.