NM law requires broader property tax notice
SANTA FE, N.M.—A new state law will give homeowners in New Mexico an early warning of possible increases in their property taxes.
Gov. Susana Martinez signed legislation into law on Wednesday to require county assessors to provide more information on property tax notices sent each spring to homeowners. The documents currently show the taxable value of property.
The new law takes effect in July and will require the notices to include the previous year's property tax as well as instructions for homeowners to calculate an estimated tax for the next year on their residential property.
The legislation was sponsored by Rep. Alonzo Baldonado, a Los Lunas Republican.