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After registering with Taxation and Revenue and receiving a Business Tax Identification Number, you may obtain an NTTC online through the Taxpayer Access Point (TAP). Please note that resale certificates issued by other states are not valid in New Mexico.
Up to four thousand dollars ($4,000) of the taxable value of property, including the community or joint property of husband and wife, subject to the tax is exempt from the imposition of the tax if the property is owned by a veteran or the veteran's unmarried surviving spouse if the veteran or surviving spouse is a New ...
On March 16, 2023, the New Mexico Legislature passed sweeping legislation which significantly increased the homestead exemption for New Mexicans from $60,000.00 per person up to $150,000.00 per person.
1-866-285-2996.
New Mexico Property Tax Rates Tax rates in New Mexico are expressed in terms of mills, which are equal to $1 of tax for $1,000 of taxable value. For example, if your taxable value after exemptions is $40,000 and your mill rate is 20 mills (i.e. $0.020), your taxes owed will be $800.
Qualifying Exemptions Veteran Exemption. Head of Household Exemption. 65 yrs or Older or Disabled Low-Income Value Freeze.
New Mexico considers you a tax-exempt organization if the federal government has first granted the status to you under Section 501(c) of the Internal Revenue Code with a classification as an educational or social entity. Your gross receipts may be exempt from gross receipts tax under Section 7-9-29 NMSA 1978.
All New Mexico seniors at least 65 years old may claim a special exemption. See the instructions for PIT-ADJ.