Las Vegas, NM asked in Real Estate Law and Tax Law for New Mexico

Q: How do I go about filing for the homestead exemption in my state of New Mexico when County Assessor never heard of it?

This is for assessing property taxes.

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1 Lawyer Answer
Concetto Kirk Di Giacomo
Concetto Kirk Di Giacomo
  • Tax Law Lawyer

A: I’m not entirely sure what you’re asking. The “homestead exemption” in New Mexico offers protection when debts are being collected from an individual...creditors are unable to force someone from their home to pay a debt (up to $60,000 is protected from creditors in these situations, see NMSA 42-10-9).

The only property tax exemptions that come to mind are: (1) “head of household” and (2) “veteran.” They work similarly to a “deduction” in any other area of tax.

Best of luck with your tax issue.

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