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Taxes
Property tax relief for seniors in New Mexico
New Mexico has 2 programs that can lower property taxes for older adults: Valuation freeze (limitation on increase in value for persons 65 or older or disabled) and Property Tax Rebate for Persons 65 or Older. Each one has its own rules and deadline.
Valuation freeze (limitation on increase in value for persons 65 or older or disabled)
In New Mexico, if you are 65 or older and your household income is under the yearly limit, your county assessor can freeze the taxable value of your home so it stops going up each year. For 2026 the limit is $44,200 of gross household income in the year before you apply. You apply with your county assessor each spring.
How to apply
- In person
- Apply at your county assessor's office with proof of your gross income, such as your federal or state income tax return.
- Who runs it
- Your county assessor
Who may qualify
| Age | 65 or older (or disabled at any age) |
|---|---|
| Gross household income limit, 2026 applications (income in the year before you apply) | $44,200 or less |
| Home | You may qualify for the home you own and live in as your residence |
What you may get
| What it does | Keeps the taxable value of your home from going up each year, which limits future tax increases |
|---|
Dates, renewals and waiting lists
| Application deadline | No later than 30 days after the assessor mails the Notice of Value. Notices go out around April 1. |
|---|---|
| Renewal | Apply each year until you have had the freeze three years in a row. After that it continues automatically until your situation changes. Report any change to the assessor. |
How New Mexico is different
Where New Mexico's rules differ from the federal rules for Property tax relief for seniors.
- Freezes your home's taxable value; it limits tax increases but doesn't stop them
- Becomes automatic after three years in a row
Good to know
- Renters: the freeze is for the home you own. Renters 65 or older with very low income may claim New Mexico's Property Tax Rebate for Persons 65 or Older on their income tax return.
- New Mexico homeowners who count as head of a family (single and married people both can) can also claim a $2,000 head of family exemption from the home's taxable value. In Santa Fe County that saves about $32 to $49 a year. Apply once with the assessor.
- Santa Fe County Assessor: 505-986-6300.
Sources: New Mexico Taxation and Revenue Department (source 3), Santa Fe County Assessor, New Mexico (source 2)
Property Tax Rebate for Persons 65 or Older
If you are 65 or older and your modified gross income is $16,000 or less, New Mexico may refund up to $250 of the property tax on your home, or part of your rent if you rent. You claim it on Schedule PIT-RC with a New Mexico income tax return, even if you don't otherwise need to file.
How to apply
- In person
- File Form PIT-1 with Schedule PIT-RC. Keep your 2025 property tax bill or rent records.
Who may qualify
| Age | 65 or older on the last day of the tax year |
|---|---|
| Modified gross income limit (tax year 2025) | $16,000 or less. Social Security and SSI count. |
| Residence | You may qualify if you were a New Mexico resident, were in the state at least six months of 2025, and paid property tax or rent on your main home |
Source: New Mexico Taxation and Revenue Department (source 3)
What you may get
| Maximum rebate (tax year 2025) | $250 ($125 for a married person filing separately) |
|---|---|
| How rent counts | 6% of the rent you paid in 2025 is treated as property tax |
Source: New Mexico Taxation and Revenue Department (source 3)
Dates, renewals and waiting lists
| Renewal | Claim it each year on that year's PIT-RC |
|---|
Source: New Mexico Taxation and Revenue Department (source 3)
How New Mexico is different
Where New Mexico's rules differ from the federal rules for Property tax relief for seniors.
- Renters can claim it
- People in Bernalillo, Doña Ana, Los Alamos and Santa Fe counties with income of $24,000 or less may also get an Additional Low Income Property Tax Rebate of up to $350, at any age
Source: New Mexico Taxation and Revenue Department (source 3)
Good to know
- Renters: you may claim this rebate on rent you paid for your main home, as long as the property is subject to property tax.
- If you can be claimed as someone else's dependent, or were in a public institution more than six months, you can't claim it.
Source: New Mexico Taxation and Revenue Department (source 3)
Free help
Free help with this in New Mexico
Aging and Long-Term Services Department (ALTSD)
Your local Area Agency on Aging can help with meals, rides, help at home, caregiver support and applying for benefits.
More help in New Mexico
Property tax relief in another state
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- District of Columbia
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
Sources
- Santa Fe County Assessor, New Mexico, Valuation Freeze (2026 flyer) (official government site). Checked Oct 28, 2026.
- Santa Fe County Assessor, New Mexico, Head of Family Exemption, 7-37-4 NMSA 1978 (official government site). Checked Oct 28, 2026.
- New Mexico Taxation and Revenue Department, 2025 PIT-RC New Mexico Rebate and Credit Schedule Instructions (official government site). Checked Oct 28, 2026.
- New Mexico Taxation and Revenue Department, 2025 PIT-1 New Mexico Personal Income Tax Return Instructions (official government site). Checked Oct 28, 2026.
- New Mexico Taxation and Revenue Department, Property Tax (Individuals) (official government site). Checked Oct 28, 2026.
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