3/4/2008
Assessor Encourages Residents Who Qualify To Take Advantage Of New Law
 More New Mexico low income seniors and disabled adults can soon take advantage of a money-saving property valuation freeze on their property. Currently, anyone who is disabled or 65 years or older with a modified annual gross income of $21,600 can get the value of their property frozen to protect them from future increases in valuation. But starting next year, seniors and those with disabilities with a modified annual gross income of $32,000 will be able to take advantage of that same break. The amended law was signed by Governor Richardson late last week.
“I think this will be of benefit to many residents and I hope everyone who is eligible for this will apply,” says Bernalillo County Assessor Karen L. Montoya. “All you have to do is fill out an application every year proving your income and requesting the aid. Only about 1% of New Mexico’s residents currently receive the benefits of this legislation. This new and improved version will allow more people over 65 to qualify for this property valuation freeze.”
To apply for the property valuation freeze, visit the Assessor’s office at 501 Tijeras NW or call 222-3700, residents can also download the forms at www.bernco.gov.
“Disabled” is defined as anyone who has been determined to be blind or permanently disabled with no expected medical improvement pursuant to current recognized federal standards. |
