New Mexico 2025 Regular Session

New Mexico Senate Bill SB192 Compare Versions

Only one version of the bill is available at this time.

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28	28	SENATE BILL 192
29	29	57
30	30	TH LEGISLATURE
31	31	-
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33	33	STATE
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35	35	OF
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37	37	NEW
38	38
39	39	MEXICO
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42	42	FIRST SESSION
43	43	,
44	44
45	45	2025
46	46	INTRODUCED BY
47	47	Micaelita Debbie O’Malley and Harold Pope
48	48	AN ACT
49	49	RELATING TO PROPERTY TAX; AMENDING AND ENACTING SECTIONS OF THE
50	50	PROPERTY TAX CODE; AMENDING CERTAIN PROPERTY TAX EXEMPTIONS FOR
51	51	VETERANS TO REFLECT CHANGES MADE TO THE EXEMPTIONS PURSUANT TO
52	52	CONSTITUTIONAL AMENDMENTS APPROVED BY VOTERS AT THE NOVEMBER 5,
53	53	2024 GENERAL ELECTION; PROVIDING THAT PROPERTY TAX EXEMPTIONS
54	54	FOR A DISABLED VETERAN OR DISABLED VETERAN'S SURVIVING SPOUSE
55	55	MAY BE TRANSFERRED IN THE SAME TAX YEAR BY WRITTEN REQUEST TO
56	56	THE COUNTY ASSESSOR; PROVIDING THAT A LIMITATION ON INCREASES
57	57	IN THE VALUATION OF RESIDENTIAL PROPERTY APPLIES TO CERTAIN
58	58	PHYSICAL IMPROVEMENTS; PROVIDING AN ADMINISTRATIVE PENALTY FOR
59	59	THE FAILURE TO REPORT IN A TIMELY MANNER AFFIDAVITS FOR
60	60	PROPERTY TRANSFERS; REMOVING THE REQUIREMENT THAT A FORM
61	61	DECLARING A PROPERTY AS RESIDENTIAL BE MAILED TO THE PROPERTY
62	62	OWNER; AMENDING FORM REQUIREMENTS FOR NOTICES OF VALUATION SENT
63	63	TO PROPERTY OWNERS; INCREASING THE RATE OF PAY FOR COUNTY
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91	91	VALUATION PROTESTS BOARD MEMBERS AND ADJUSTING IT FOR
92	92	INFLATION; CLARIFYING REVENUE STREAMS OF THE COUNTY PROPERTY
93	93	VALUATION FUND; PROVIDING AN ADMINISTRATIVE PENALTY; DECLARING
94	94	AN EMERGENCY.
95	95	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
96	96	SECTION 1. Section 7-36-21.2 NMSA 1978 (being Laws 2000,
97	97	Chapter 10, Section 2, as amended) is amended to read:
98	98	"7-36-21.2. LIMITATION ON INCREASES IN VALUATION OF
99	99	RESIDENTIAL PROPERTY.--
100	100	A. Residential property shall be valued at its
101	101	current and correct value in accordance with the provisions of
102	102	the Property Tax Code; provided that for the 2001 and
103	103	subsequent tax years, the value of a property in any tax year
104	104	shall not exceed the higher of one hundred three percent of the
105	105	value in the tax year prior to the tax year in which the
106	106	property is being valued or one hundred six and one-tenth
107	107	percent of the value in the tax year two years prior to the tax
108	108	year in which the property is being valued. This limitation on
109	109	increases in value does not apply to:
110	110	(1) a residential property in the first tax
111	111	year that it is valued for property taxation purposes;
112	112	(2) any physical improvements [except for
113	113	solar energy system installations ] made to the property during
114	114	the year immediately prior to the tax year or omitted in a
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143	143	prior tax year, except for:
144	144	(a) a solar energy system installation;
145	145	or
146	146	(b) reproduction of physical
147	147	improvements destroyed by a declared state disaster or
148	148	emergency; or
149	149	(3) valuation of a residential property in any
150	150	tax year in which:
151	151	(a) a change of ownership of the
152	152	property occurred in the year immediately prior to the tax year
153	153	for which the value of the property for property taxation
154	154	purposes is being determined; or
155	155	(b) the use or zoning of the property
156	156	has changed in the year prior to the tax year.
157	157	B. If a change of ownership of residential property
158	158	occurred in the year immediately prior to the tax year for
159	159	which the value of the property for property taxation purposes
160	160	is being determined, the value of the property shall be its
161	161	current and correct value as determined pursuant to the general
162	162	valuation provisions of the Property Tax Code.
163	163	[C. To assure that the values of residential
164	164	property for property taxation purposes are at current and
165	165	correct values in all counties prior to application of the
166	166	limitation in Subsection A of this section, the department
167	167	shall determine for the 2000 tax year the sales ratio pursuant
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196	196	to Section 7-36-18 NMSA 1978 or, if a sales ratio cannot be
197	197	determined pursuant to that section, conduct a sales-ratio
198	198	analysis using both independent appraisals by the department
199	199	and sales. If the sales ratio for a county for the 2000 tax
200	200	year is less than eighty-five, as measured by the median ratio
201	201	of value for property taxation purposes to sales price or
202	202	independent appraisal by the department, the county shall not
203	203	be subject to the limitations of Subsection A of this section
204	204	and shall conduct a reassessment of residential property in the
205	205	county so that, by the 2003 tax year, the sales ratio is at
206	206	least eighty-five. After such reassessment, the limitation on
207	207	increases in valuation in this section shall apply in those
208	208	counties in the earlier of the 2004 tax year or the first tax
209	209	year following the tax year that the county has a sales ratio
210	210	of eighty-five or higher, as measured by the median ratio of
211	211	value for property taxation purposes to sales value or
212	212	independent appraisal by the department. Thereafter, the
213	213	limitation on increases in valuation of residential property
214	214	for property taxation purposes in this section shall apply to
215	215	subsequent tax years in all counties.
216	216	D.] C. The provisions of this section do not apply
217	217	to residential property for any tax year in which the property
218	218	is subject to the valuation limitation in Section 7-36-21.3
219	219	NMSA 1978.
220	220	[E.] D. As used in this section:
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249	249	(1) "change of ownership" means a transfer to
250	250	a transferee by a transferor of all or any part of the
251	251	transferor's legal or equitable ownership interest in
252	252	residential property except for a transfer:
253	253	[(1)] (a) to a trustee for the
254	254	beneficial use of the spouse of the transferor or the surviving
255	255	spouse of a deceased transferor;
256	256	[(2)] (b) to the spouse of the
257	257	transferor that takes effect upon the death of the transferor;
258	258	[(3)] (c) that creates, transfers or
259	259	terminates, solely between spouses, any co-owner's interest;
260	260	[(4)] (d) to a child of the transferor,
261	261	who occupies the property as that person's principal residence
262	262	at the time of transfer; provided that the first subsequent tax
263	263	year in which that person does not qualify for the head of
264	264	household exemption on that property, a change of ownership
265	265	shall be deemed to have occurred;
266	266	[(5)] (e) that confirms or corrects a
267	267	previous transfer made by a document that was recorded in the
268	268	real estate records of the county in which the real property is
269	269	located;
270	270	[(6)] (f) for the purpose of quieting
271	271	the title to real property or resolving a disputed location of
272	272	a real property boundary;
273	273	[(7)] (g) to a revocable trust by the
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302	302	transferor with the transferor, the transferor's spouse or a
303	303	child of the transferor as beneficiary; or
304	304	[(8)] (h) from a revocable trust
305	305	described in [Paragraph (7) ] Subparagraph (g) of this
306	306	[subsection] paragraph back to the settlor or trustor or to the
307	307	beneficiaries of the trust;
308	308	[F. As used in this section ] (2) "declared
309	309	state disaster or emergency" means a disaster or emergency
310	310	event for which:
311	311	(a) a governor's state-of-emergency
312	312	proclamation has been issued; or
313	313	(b) a presidential declaration of a
314	314	federal major disaster or emergency has been issued;
315	315	(3) "reproduction" means a new construction
316	316	structure that is a close or an exact copy of previously
317	317	existing physical improvements that have substantially similar
318	318	total square footage, living square footage and quality of
319	319	building materials that tends to replicate the previously
320	320	existing structure; and
321	321	(4) "solar energy system installation" means
322	322	an installation that is used to provide space heat, hot water
323	323	or electricity to the property in which it is installed and is:
324	324	[(1)] (a) an installation that uses
325	325	solar panels that are not also windows;
326	326	[(2)] (b) a dark-colored water tank
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355	355	exposed to sunlight; or
356	356	[(3)] (c) a non-vented trombe wall."
357	357	SECTION 2. Section 7-37-5 NMSA 1978 (being Laws 1973,
358	358	Chapter 258, Section 38, as amended) is amended to read:
359	359	"7-37-5. VETERAN EXEMPTION.--
360	360	A. [Up to four thousand dollars ($4,000) ] An amount
361	361	as provided in Subsection B of this section of the taxable
362	362	value of property, including the community or joint property of
363	363	[husband and wife] married individuals , subject to the tax is
364	364	exempt from the imposition of the tax if the property is owned
365	365	by a veteran or the veteran's unmarried surviving spouse if the
366	366	veteran or surviving spouse is a New Mexico resident or if the
367	367	property is held in a grantor trust established under Sections
368	368	671 through 677 of the Internal Revenue Code of 1986, as those
369	369	sections may be amended or renumbered, by a veteran or the
370	370	veteran's unmarried surviving spouse if the veteran or
371	371	surviving spouse is a New Mexico resident. The exemption shall
372	372	be deducted from the taxable value of the property to determine
373	373	the net taxable value of the property.
374	374	B. The exemption allowed shall be in the following
375	375	amounts for the specified tax years:
376	376	[(1) for tax year 2004, the exemption shall be
377	377	three thousand dollars ($3,000);
378	378	(2) for tax year 2005, the exemption shall be
379	379	three thousand five hundred dollars ($3,500); and
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408	408	(3) for tax year 2006 and each subsequent tax
409	409	year, the exemption shall be four thousand dollars ($4,000) ]
410	410	(1) for tax years 2006 through 2024, four
411	411	thousand dollars ($4,000);
412	412	(2) for tax year 2025, ten thousand dollars
413	413	($10,000); and
414	414	(3) for tax year 2026 and subsequent tax
415	415	years, the amount provided in Paragraph (2) of this subsection,
416	416	adjusted for inflation pursuant to Subsection C of this
417	417	section.
418	418	C. For tax year 2026 and subsequent tax years, the
419	419	amount of exemption shall be adjusted to account for inflation.
420	420	The department shall make the adjustment by multiplying ten
421	421	thousand dollars ($10,000) by a fraction, the numerator of
422	422	which is the consumer price index ending during the prior tax
423	423	year and the denominator of which is the consumer price index
424	424	ending in tax year 2026. The result of the multiplication
425	425	shall be rounded down to the nearest one hundred dollars
426	426	($100), except that if the result would be an amount less than
427	427	the corresponding amount for the preceding tax year, then no
428	428	adjustment shall be made.
429	429	D. The department shall publish annually the amount
430	430	determined by the calculation made pursuant to Subsection C of
431	431	this section and provide the calculated amount to each county
432	432	assessor no later than December 1 of the prior tax year .
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461	461	[B.] E. The veteran exemption shall be applied only
462	462	if claimed and allowed in accordance with Section 7-38-17 NMSA
463	463	1978 and regulations of the department. [For taxpayers who
464	464	became eligible for a veteran exemption due to the approval of
465	465	the amendment to Article 8, Section 5 of the constitution of
466	466	New Mexico in November 2004, a county assessor shall, at the
467	467	time of determining the net taxable value of the taxpayer's
468	468	property for the 2005 property tax year, in addition to
469	469	complying with the provisions of Section 7-38-17 NMSA 1978,
470	470	determine the net taxable value of the taxpayer's property that
471	471	would result from the application of the veteran exemption for
472	472	the 2004 property tax year had the deadline for applying for
473	473	the veteran exemption in 2004 occurred after the amendment was
474	474	certified. The veteran exemption for 2004 shall not be
475	475	credited against the 2005 property value of a taxpayer until
476	476	the taxpayer has paid in full the taxpayer's property tax
477	477	liability for the 2004 property tax year.
478	478	C.] F. As used in this section, "veteran" means an
479	479	individual who:
480	480	(1) has been honorably discharged from
481	481	membership in the armed forces of the United States; and
482	482	(2) except as provided in Subsection G of this
483	483	section, served in the armed forces of the United States on
484	484	active duty continuously for ninety days.
485	485	[D. For the purposes of Subsection C of this
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514	514	section] G. A person who would otherwise be entitled to status
515	515	as a veteran except for failure to have served in the armed
516	516	forces continuously for ninety days is considered to have met
517	517	that qualification if the person served for less than ninety
518	518	days and the reason for not having served for ninety days was a
519	519	discharge brought about by service-connected disablement.
520	520	[E.] H. For the purposes of Subsection [C ] F of
521	521	this section, a person has been "honorably discharged" unless
522	522	the person received either a dishonorable discharge or a
523	523	discharge for misconduct.
524	524	[F.] I. For the purposes of this section, a person
525	525	whose civilian service has been recognized as service in the
526	526	armed forces of the United States under federal law and who has
527	527	been issued a discharge certificate by a branch of the armed
528	528	forces of the United States shall be considered to have served
529	529	in the armed forces of the United States."
530	530	SECTION 3. Section 7-37-5.1 NMSA 1978 (being Laws 2000,
531	531	Chapter 92, Section 1 and Laws 2000, Chapter 94, Section 1, as
532	532	amended) is amended to read:
533	533	"7-37-5.1. DISABLED VETERAN EXEMPTION.--
534	534	A. As used in this section:
535	535	(1) "disabled veteran" means an individual
536	536	who:
537	537	(a) has been honorably discharged from
538	538	membership in the armed forces of the United States or has
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567	567	received a discharge certificate from a branch of the armed
568	568	forces of the United States for civilian service recognized
569	569	pursuant to federal law as service in the armed forces of the
570	570	United States; and
571	571	(b) has been determined pursuant to
572	572	federal law to have a [one hundred percent ] permanent [and
573	573	total] service-connected disability; and
574	574	(2) "honorably discharged" means discharged
575	575	from the armed forces pursuant to a discharge other than a
576	576	dishonorable or bad conduct discharge.
577	577	B. The property of a disabled veteran, including
578	578	joint or community property of the veteran and the veteran's
579	579	spouse, is exempt from property taxation [if it ] in an amount
580	580	that shall be based on the percentage of the veteran's
581	581	disability as determined by federal law; provided that the
582	582	property is occupied by the disabled veteran as the veteran's
583	583	principal place of residence. Property held in a grantor trust
584	584	established under Sections 671 through 677 of the Internal
585	585	Revenue Code of 1986, as those sections may be amended or
586	586	renumbered, by a disabled veteran or the veteran's surviving
587	587	spouse is also exempt from property taxation if the property
588	588	otherwise meets the requirements for exemption in this
589	589	subsection or Subsection C of this section.
590	590	C. The property of the surviving spouse of a
591	591	disabled veteran is exempt from property taxation if:
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620	620	(1) the surviving spouse and the disabled
621	621	veteran were married at the time of the disabled veteran's
622	622	death; and
623	623	(2) the surviving spouse continues to occupy
624	624	the property continuously after the disabled veteran's death as
625	625	the spouse's principal place of residence.
626	626	D. Upon the transfer of the principal place of
627	627	residence of a disabled veteran or of a surviving spouse of a
628	628	disabled veteran entitled to and granted a disabled veteran
629	629	exemption, the disabled veteran or the surviving spouse may
630	630	choose to:
631	631	(1) maintain the exemption for that residence
632	632	for the remainder of the year, even if the residence is
633	633	transferred during the year; or
634	634	(2) remove the exemption for that residence
635	635	for the current tax year and apply it to the disabled veteran's
636	636	or the disabled veteran's surviving spouse's new principal
637	637	place of residence, regardless of whether the exemption was
638	638	applied for and claimed within thirty days of the mailing of
639	639	the county assessor's notice of valuation made pursuant to the
640	640	provisions of Section 7-38-20 NMSA 1978. To transfer the
641	641	exemption, the disabled veteran or the disabled veteran's
642	642	surviving spouse shall, no later than thirty days following the
643	643	change of ownership, make a written transfer request to the
644	644	county assessor to remove the exemption from the prior
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673	673	principal place of residence and apply it to the new principal
674	674	place of residence.
675	675	E. The exemption provided by this section may be
676	676	referred to as the "disabled veteran exemption".
677	677	F. The disabled veteran exemption shall be applied
678	678	only if claimed and allowed in accordance with Section 7-38-17
679	679	NMSA 1978 and the rules of the department.
680	680	G. The veterans' services department shall assist
681	681	the department and the county assessors in determining which
682	682	veterans qualify for the disabled veteran exemption."
683	683	SECTION 4. Section 7-38-12.2 NMSA 1978 (being Laws 2003,
684	684	Chapter 118, Section 3) is amended to read:
685	685	"7-38-12.2. PENALTIES--CRIMINAL--ADMINISTRATIVE .--
686	686	A. A person who intentionally refuses to make a
687	687	required report within the time period specified under the
688	688	provisions of Section 7-38-12.1 NMSA 1978 or who knowingly
689	689	makes a false statement on an affidavit required under the
690	690	provisions of Section 7-38-12.1 NMSA 1978:
691	691	(1) is guilty of a misdemeanor and upon
692	692	conviction shall be punished by the imposition of a fine of not
693	693	more than one thousand dollars ($1,000); and
694	694	(2) may be assessed an administrative penalty
695	695	by the county assessor not to exceed one thousand dollars
696	696	($1,000). Each county assessor shall publish electronically
697	697	the amount that shall be assessed according to the valuation of
698	698	.229611.2
699	699	- 13 - underscored material = new
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726	726	the property. This penalty shall be imposed and collected at
727	727	the same time and in the same manner that the tax and interest
728	728	are imposed and collected. The county assessor shall report
729	729	these violations to the county treasurer with the delivery of
730	730	the tax roll, and the county treasurer shall be responsible for
731	731	making entries on the appropriate records indicating amounts
732	732	due and the dates of payment .
733	733	B. The secretary, any employee or any former
734	734	employee of the department or any other person subject to the
735	735	provisions of Section 7-38-12.1 NMSA 1978 who willfully
736	736	releases information in violation of that section, except as
737	737	provided in Section 7-38-4 NMSA 1978 or as part of a protest
738	738	proceeding as defined in Section 7-38-24 NMSA 1978, is guilty
739	739	of a misdemeanor and shall be fined not more than one thousand
740	740	dollars ($1,000)."
741	741	SECTION 5. Section 7-38-17 NMSA 1978 (being Laws 1973,
742	742	Chapter 258, Section 57, as amended) is amended to read:
743	743	"7-38-17. CLAIMING EXEMPTIONS--REQUIREMENTS--PENALTIES.--
744	744	A. Subject to the requirements of Subsection E of
745	745	this section, head-of-family exemptions, veteran exemptions,
746	746	disabled veteran exemptions or veterans' organization
747	747	exemptions claimed and allowed in a tax year need not be
748	748	claimed for subsequent tax years if there is no change in
749	749	eligibility for the exemption nor any change in ownership of
750	750	the property against which the exemption was claimed. Head-of-
751	751	.229611.2
752	752	- 14 - underscored material = new
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777	777	24
778	778	25
779	779	family, veteran and veterans' organization exemptions allowable
780	780	under this subsection shall be applied automatically by county
781	781	assessors in the subsequent tax years.
782	782	B. Other exemptions of real property specified
783	783	under Section 7-36-7 NMSA 1978 for nongovernmental entities
784	784	shall be claimed in order to be allowed. Once such exemptions
785	785	are claimed and allowed for a tax year, they need not be
786	786	claimed for subsequent tax years if there is no change in
787	787	eligibility. Exemptions allowable under this subsection shall
788	788	be applied automatically by county assessors in subsequent tax
789	789	years.
790	790	C. [Except as set forth in Subsection H of this
791	791	section] An exemption required to be claimed under this section
792	792	shall be applied for no later than thirty days after the
793	793	mailing of the county assessor's notices of valuation pursuant
794	794	to Section 7-38-20 NMSA 1978 in order for it to be allowed for
795	795	that tax year.
796	796	D. A person who has had an exemption applied to a
797	797	tax year and subsequently becomes ineligible for the exemption
798	798	because of a change in the person's status or a change in the
799	799	ownership of the property against which the exemption was
800	800	applied shall notify the county assessor of the loss of
801	801	eligibility for the exemption by the last day of February of
802	802	the tax year immediately following the year in which loss of
803	803	eligibility occurs.
804	804	.229611.2
805	805	- 15 - underscored material = new
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831	831	25
832	832	E. Exemptions may be claimed by filing proof of
833	833	eligibility for the exemption with the county assessor. The
834	834	proof shall be in a form prescribed by regulation of the
835	835	department. Procedures for determining eligibility of
836	836	claimants for any exemption shall be prescribed by regulation
837	837	of the department, and these regulations shall include
838	838	provisions for requiring the veterans' services department to
839	839	issue certificates of eligibility for veteran and veterans'
840	840	organization exemptions in a form and with the information
841	841	required by the department. The regulations shall also include
842	842	verification procedures to assure that veteran exemptions in
843	843	excess of the amount authorized under Section 7-37-5 NMSA 1978
844	844	are not allowed as a result of multiple claiming in more than
845	845	one county or claiming against more than one property in a
846	846	single tax year.
847	847	F. The department shall consult and cooperate with
848	848	the veterans' services department in the development, adoption
849	849	and promulgation of regulations under Subsection E of this
850	850	section. The veterans' services department shall comply with
851	851	the promulgated regulations. The veterans' services department
852	852	shall collect a fee of five dollars ($5.00) for the issuance of
853	853	a duplicate certificate of eligibility to a veteran or to a
854	854	veterans' organization.
855	855	G. A person who violates the provisions of this
856	856	section by intentionally claiming and receiving the benefit of
857	857	.229611.2
858	858	- 16 - underscored material = new
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885	885	an exemption to which the person is not entitled or who fails
886	886	to comply with the provisions of Subsection D of this section
887	887	is guilty of a misdemeanor and shall be punished by a fine of
888	888	not more than one thousand dollars ($1,000). A county assessor
889	889	or the assessor's employee who knowingly permits a claimant for
890	890	an exemption to receive the benefit of an exemption to which
891	891	the claimant is not entitled is guilty of a misdemeanor and
892	892	shall be punished by a fine of not more than one thousand
893	893	dollars ($1,000) and shall also be automatically removed from
894	894	office or dismissed from employment upon conviction under this
895	895	subsection.
896	896	[H. When a disabled veteran or the disabled
897	897	veteran's unmarried surviving spouse provides proof of
898	898	eligibility pursuant to Subsection E of this section, the
899	899	disabled veteran or the disabled veteran's unmarried surviving
900	900	spouse shall be allowed the exemption for the current tax year;
901	901	provided that the exemption shall not be allowed for property
902	902	tax due for previous tax years. ]"
903	903	SECTION 6. Section 7-38-17.1 NMSA 1978 (being Laws 1981,
904	904	Chapter 37, Section 68) is amended to read:
905	905	"7-38-17.1. PRESUMPTION OF NONRESIDENTIAL
906	906	CLASSIFICATION--DECLARATION OF RESIDENTIAL CLASSIFICATION.--
907	907	A. Property subject to valuation for property
908	908	taxation purposes for the 1982 and succeeding tax years is
909	909	presumed to be nonresidential and will be so recorded by the
910	910	.229611.2
911	911	- 17 - underscored material = new
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913	913	1
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934	934	22
935	935	23
936	936	24
937	937	25
938	938	appropriate valuation authority unless the property owner
939	939	declares the property to be residential. This declaration will
940	940	be made on a form prescribed by the [division ] department,
941	941	signed by the owner or [his ] the owner's agent and mailed to
942	942	the valuation authority not later than the last day of February
943	943	of the property tax year to which it applies. [The form for
944	944	the declaration shall be mailed by the valuation authority to
945	945	property owners no later than January 31 of each property tax
946	946	year and shall include the property owner's name and address
947	947	and the description or identification of the property. It may
948	948	be included as part of a preliminary notice of valuation form
949	949	or any other similar form mailed to property owners during the
950	950	appropriate time period. ] The valuation authority will take
951	951	reasonable steps to verify any such declaration. [Once the
952	952	declaration is accepted ] The valuation authority [will ] shall
953	953	determine the tax classification of the property and make
954	954	appropriate entries on the valuation records. Declarations,
955	955	once accepted by the valuation authority, need not be made in
956	956	subsequent tax years if there is no change in the use of the
957	957	property.
958	958	B. No later than the last day of February of each
959	959	tax year, every owner of property subject to valuation for
960	960	property taxation purposes shall report to the appropriate
961	961	valuation authority as set out in Section 7-36-2 NMSA 1978
962	962	whenever the use of the property changes from residential to
963	963	.229611.2
964	964	- 18 - underscored material = new
965	965	[bracketed material] = delete
966	966	1
967	967	2
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989	989	24
990	990	25
991	991	nonresidential or from nonresidential to residential. This
992	992	report will be made on a form prescribed by the [division ]
993	993	department and will be signed by the owner of the property or
994	994	[his] the owner's agent.
995	995	C. Any person who violates Subsection A of this
996	996	section by declaring a property [which ] that is nonresidential
997	997	to be residential or who violates Subsection B of this section
998	998	by failing to report a change of use from residential to
999	999	nonresidential shall be liable, for each tax year to which
1000	1000	declaration or failure to report applies, for:
1001	1001	(1) any additional taxes because of a
1002	1002	difference in tax rates imposed against residential and
1003	1003	nonresidential property;
1004	1004	(2) interest, calculated as provided under
1005	1005	Section 7-38-49 NMSA 1978, on any additional taxes determined
1006	1006	to be due under Paragraph (1) of this subsection; and
1007	1007	(3) a civil penalty of five percent of any
1008	1008	additional taxes determined to be due under Paragraph (1) of
1009	1009	this subsection.
1010	1010	D. Any person who violates Subsection A of this
1011	1011	section by declaring a property [which ] that is nonresidential
1012	1012	to be residential with the intent to evade any tax or who
1013	1013	violates Subsection B of this section by refusing or failing to
1014	1014	report a change of use from residential to nonresidential with
1015	1015	the intent to evade any tax is guilty of a misdemeanor and
1016	1016	.229611.2
1017	1017	- 19 - underscored material = new
1018	1018	[bracketed material] = delete
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1020	1020	2
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1042	1042	24
1043	1043	25
1044	1044	shall be punished by the imposition of a fine of not more than
1045	1045	one thousand dollars ($1,000). Any director, employee of the
1046	1046	[division] department, county assessor or employee of any
1047	1047	assessor who knowingly records a property [which ] that is
1048	1048	nonresidential to be residential is guilty of a misdemeanor and
1049	1049	shall be punished by a fine of not more than one thousand
1050	1050	dollars ($1,000) and shall be automatically removed from office
1051	1051	or dismissed from employment upon conviction under this
1052	1052	subsection.
1053	1053	E. The civil penalties authorized in Subsection C
1054	1054	of this section shall be imposed and collected at the same time
1055	1055	and in the same manner that the tax and interest are imposed
1056	1056	and collected. The county treasurer is responsible for making
1057	1057	entries on the appropriate records indicating amounts due and
1058	1058	the date of payment."
1059	1059	SECTION 7. Section 7-38-20 NMSA 1978 (being Laws 1973,
1060	1060	Chapter 258, Section 60, as amended) is amended to read:
1061	1061	"7-38-20. COUNTY ASSESSOR AND DEPARTMENT TO MAIL NOTICES
1062	1062	OF VALUATION.--
1063	1063	A. By April 1 of each year, the county assessor
1064	1064	shall mail a notice in a form prescribed by the county assessor
1065	1065	to each property owner informing the property owner of the net
1066	1066	taxable value of the property owner's property that has been
1067	1067	valued for property taxation purposes by the assessor and other
1068	1068	related information as required by Subsection D of this
1069	1069	.229611.2
1070	1070	- 20 - underscored material = new
1071	1071	[bracketed material] = delete
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1093	1093	22
1094	1094	23
1095	1095	24
1096	1096	25
1097	1097	section.
1098	1098	B. By May 1 of each year, the department shall mail
1099	1099	a notice in a form prescribed by the department to each
1100	1100	property owner informing the property owner of the net taxable
1101	1101	value of the property owner's property that has been valued for
1102	1102	property taxation purposes by the department and other related
1103	1103	information as required by Subsection D of this section.
1104	1104	C. Failure to receive the notice required by this
1105	1105	section does not invalidate the value set on the property, any
1106	1106	property tax based on that value or any subsequent procedure or
1107	1107	proceeding instituted for the collection of the tax.
1108	1108	D. The notice required by this section shall state,
1109	1109	at a minimum:
1110	1110	(1) the property owner's name and address;
1111	1111	(2) the description or identification of the
1112	1112	property valued;
1113	1113	(3) the classification of the property valued;
1114	1114	(4) the value set on the property for property
1115	1115	taxation purposes;
1116	1116	(5) the tax ratio;
1117	1117	(6) the taxable value of the property for the
1118	1118	previous and current tax years;
1119	1119	(7) the tax rate from the previous tax year;
1120	1120	(8) the amount of tax from the previous tax
1121	1121	year;
1122	1122	.229611.2
1123	1123	- 21 - underscored material = new
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1149	1149	25
1150	1150	(9) with respect to residential property,
1151	1151	instructions for calculating an estimated tax for the current
1152	1152	tax year, which shall be prominently displayed on the front of
1153	1153	the notice, and a disclaimer for such instructions similar to
1154	1154	the following:
1155	1155	"The calculation of property tax may be higher or lower
1156	1156	than the property tax that will actually be imposed.";
1157	1157	(10) the amount of any exemptions allowed and
1158	1158	a statement of the net taxable value of the property after
1159	1159	deducting the exemptions;
1160	1160	(11) the allocations of net taxable values to
1161	1161	the governmental units;
1162	1162	(12) briefly, the eligibility requirements and
1163	1163	application procedures and deadline for claiming eligibility
1164	1164	for a limitation on increases in the valuation for property
1165	1165	taxation purposes of a single-family dwelling owned and
1166	1166	occupied by a person sixty-five years of age or older; and
1167	1167	(13) briefly, the procedures for protesting
1168	1168	the value determined for property taxation purposes,
1169	1169	classification, allocation of values to governmental units or
1170	1170	denial of a claim for an exemption or for the limitation on
1171	1171	increases in valuation for property taxation purposes.
1172	1172	E. The county assessor may mail the valuation
1173	1173	notice required pursuant to Subsection A of this section to
1174	1174	taxpayers with:
1175	1175	.229611.2
1176	1176	- 22 - underscored material = new
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1178	1178	1
1179	1179	2
1180	1180	3
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1201	1201	24
1202	1202	25
1203	1203	(1) the preceding tax year's property tax
1204	1204	bills if the net taxable value of the property has not changed
1205	1205	since the preceding taxable year. In this early mailing, the
1206	1206	county assessor shall provide clear notice to the taxpayer that
1207	1207	the valuation notice is for the succeeding tax year and that
1208	1208	the deadlines for protest of the value or classification of the
1209	1209	property apply to this mailing date; and
1210	1210	(2) a form that may be completed by the
1211	1211	taxpayer and returned to the county assessor to update the
1212	1212	taxpayer's mailing address or the classification of the
1213	1213	taxpayer's property or to claim an exemption or a limitation on
1214	1214	increases in valuation for property taxation purposes pursuant
1215	1215	to the Property Tax Code ."
1216	1216	SECTION 8. Section 7-38-25 NMSA 1978 (being Laws 1973,
1217	1217	Chapter 258, Section 65, as amended) is amended to read:
1218	1218	"7-38-25. COUNTY VALUATION PROTESTS BOARDS--CREATION--
1219	1219	DUTIES--FUNDING.--
1220	1220	A. There is created in each county a "county
1221	1221	valuation protests board". Each board shall consist of three
1222	1222	voting members. Three alternates shall also be appointed to
1223	1223	serve as voting members in the absence of a voting member.
1224	1224	Voting members and alternates shall be appointed as follows:
1225	1225	(1) one member and one alternate shall be [a ]
1226	1226	qualified [elector] electors of the county and shall be
1227	1227	appointed by the board of county commissioners for [a term ]
1228	1228	.229611.2
1229	1229	- 23 - underscored material = new
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1253	1253	23
1254	1254	24
1255	1255	25
1256	1256	terms of two years;
1257	1257	(2) one member and one alternate shall be [a ]
1258	1258	qualified [elector] electors of the county, shall have
1259	1259	demonstrated experience in the field of valuation of property
1260	1260	and shall be appointed by the board of county commissioners for
1261	1261	[a term] terms of two years; and
1262	1262	(3) one member and one alternate shall be [a ]
1263	1263	property appraisal [officer ] officers employed by the
1264	1264	department, assigned by the [director ] secretary, and the
1265	1265	member shall be the [chairman ] chair of the board.
1266	1266	B. Members of the board and alternates appointed
1267	1267	under Paragraph (1) or (2) of Subsection A of this section
1268	1268	shall not hold any elective public office during the [term ]
1269	1269	terms of their appointment, nor shall any such member or
1270	1270	alternate be employed by the state, a political subdivision or
1271	1271	a school district during the term of [his ] the member's or
1272	1272	alternate's appointment.
1273	1273	C. Vacancies occurring on the board shall be filled
1274	1274	by the authority making the original appointment and shall be
1275	1275	for the unexpired term of the vacated membership.
1276	1276	D. The county valuation protests board shall hear
1277	1277	and decide protests of determinations made by county assessors
1278	1278	and protested under Section 7-38-24 NMSA 1978.
1279	1279	E. Members of the board and alternates when serving
1280	1280	as voting members appointed under Paragraphs (1) and (2) of
1281	1281	.229611.2
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1309	1309	Subsection A of this section shall be paid as independent
1310	1310	contractors at the rate of [eighty dollars ($80.00) ] four
1311	1311	hundred dollars ($400) a day for each day of actual service in
1312	1312	2025 and for each subsequent year, that rate adjusted for
1313	1313	inflation by multiplying four hundred dollars ($400) by a
1314	1314	fraction, the numerator of which is the consumer price index
1315	1315	ending during the prior tax year and the denominator of which
1316	1316	is the consumer price index ending in tax year 2025; the result
1317	1317	of the multiplication shall be rounded down to the nearest one
1318	1318	dollar ($1.00), except that if the result would be an amount
1319	1319	less than the corresponding amount for the preceding taxable
1320	1320	year, then no adjustment shall be made . The payment of board
1321	1321	members and alternates and all other actual and direct expenses
1322	1322	incurred in connection with protest hearings shall be paid by
1323	1323	the department."
1324	1324	SECTION 9. Section 7-38-38.1 NMSA 1978 (being Laws 1986,
1325	1325	Chapter 20, Section 116, as amended) is amended to read:
1326	1326	"7-38-38.1. RECIPIENTS OF REVENUE PRODUCED THROUGH AD
1327	1327	VALOREM LEVIES REQUIRED TO PAY COUNTIES ADMINISTRATIVE CHARGE
1328	1328	TO OFFSET COLLECTION COSTS.--
1329	1329	A. As used in this section:
1330	1330	(1) "revenue" means money for which a county
1331	1331	treasurer has the legal responsibility for collection and which
1332	1332	is owed to a revenue recipient as a result of an imposition
1333	1333	authorized by law of a rate expressed in mills per dollar or
1334	1334	.229611.2
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1362	1362	dollars per thousands of dollars of net taxable value of
1363	1363	property, assessed value of property or a similar term,
1364	1364	including but not limited to money resulting from the
1365	1365	authorization of rates and impositions under Subsection B and
1366	1366	Paragraphs (1) and (2) of Subsection C of Section 7-37-7 NMSA
1367	1367	1978, special levies for special purposes and benefit
1368	1368	assessments, but the term does not include any money resulting
1369	1369	from the imposition of taxes imposed under the provisions of
1370	1370	the Oil and Gas Ad Valorem Production Tax Act, the Oil and Gas
1371	1371	Production Equipment Ad Valorem Tax Act or the Copper
1372	1372	Production Ad Valorem Tax Act or money resulting from
1373	1373	impositions under Paragraph (3) of Subsection C of Section
1374	1374	7-37-7 NMSA 1978; and
1375	1375	(2) "revenue recipient" means the state and
1376	1376	any of its political subdivisions, including charter schools,
1377	1377	but excluding institutions of higher education located in class
1378	1378	A counties and class B counties having more than three hundred
1379	1379	million dollars ($300,000,000) valuation, that are authorized
1380	1380	by law to receive revenue.
1381	1381	B. Prior to the distribution to a revenue recipient
1382	1382	of revenue received by a county treasurer, the treasurer shall
1383	1383	deduct as an administrative charge an amount equal to one
1384	1384	percent of the revenue received.
1385	1385	C. The "county property valuation fund" is created
1386	1386	[All] as a nonreverting fund and shall consist of
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1415	1415	appropriations, transfers, gifts, income from investment of the
1416	1416	fund, administrative charges deducted by the county treasurer
1417	1417	[shall be distributed to the county property valuation fund ]
1418	1418	and all proceeds from the disposition or sale of any asset
1419	1419	purchased in whole or in part with money from the fund .
1420	1420	D. Expenditures from the county property valuation
1421	1421	fund shall be made pursuant to a property valuation program
1422	1422	presented by the county assessor and approved by the majority
1423	1423	of the county commissioners."
1424	1424	SECTION 10. APPLICABILITY.--
1425	1425	A. The provisions of Sections 1 and 2 of this act
1426	1426	apply to property tax years beginning on or after January 1,
1427	1427	2025.
1428	1428	B. The provisions of Section 3 of this act apply to
1429	1429	property tax years beginning on or after January 1, 2026.
1430	1430	SECTION 11. EMERGENCY.--It is necessary for the public
1431	1431	peace, health and safety that this act take effect immediately.
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