How is the “Veterans Exemption Status” determined and how does it affect property taxes?
The New Mexico Veteran’s Service Commission determines all eligibilities and issues a certificate to all qualifying veterans. A maximum amount of $4,000.00 may be claimed against a property’s value and or a motor vehicle’s license fee. (See Veterans Exemption on page 4, for the allowable amounts) The certificate should be taken to the Motor Vehicles Department first, if claimant desires to use the exemption in the Assessor’s Office and the Motor Vehicle Department both. The amount the Motor Vehicle Department determines is used to pay license fees and is then divided by a 4.5 factor. The amount is then subtracted from the allowable amount, and the remaining amount may then be claimed against property taxes at the Taos County Assessor’s Office. If the entire allowable amount is claimed at the Taos County Assessor’s Office it will not be necessary to claim the exemption every year, it will automatically be applied every year. It is only necessary for the veteran to present the certificat
