January 1st determines the taxable status of all property in the state of New Mexico. If property is destroyed or improved during the year, any resulting increase or decrease will not be reflected until January 1 of the next year.
By the last day of this month, all new improvements, decreases in value, mobile homes, livestock, and claims for any applicable exemptions must be made. This is a reporting period that begins January 1 and ends on the last day of February.
On or before April 1, county assessors must mail notices of value to property owners. There are two methods for protesting values, denial of exemptions, classification, allocation of taxes to a governmental unit or limitation in value increase as provide by state law. There is no provision under the property tax code to protest taxes (dollar amount). The first method is to file a petition of protest with the county assessor within thirty days of receiving your notice of value (post mark date). The second method is file for a claim of refund in district court after paying your property taxes before the delinquent date. Property owners cannot use both methods on the same property in the same year.
County assessors certify total net taxable values in the county to the Property Tax Division. After this date, valuation changes become increasing difficult and will generally require a court order.
The Division complies all values certified by all counties and forwards to the Department and Finance for its use in making budgets and setting tax rates.
New Mexico Department of Finance and Administration sets the tax rates. The county council certifies the tax rates. A copy of the written order imposing the tax rates shall be delivered to the county assessor. Rates consist of operating rates that finance ongoing operations of government, and debt rates used to finance long-term capital improvements. Governing bodies of imposing entities, for example county council and educational boards, within limits, impose operating rates. Voters approve debt rates for a limited time.
By this date, the county assessor prepares the property tax schedule (tax roll) for the county and delivers it to the finance division for billing. The tax roll lists every property its description, owner, address, value for property tax purposes, classification, exemptions allowed, applicable tax rates and tax amount.
The finance division mails the tax bills based on the values set as of January1st of this tax year.
First half of taxes are due based on values set January 1st of this tax year. After paying their first installment of taxes due, property owners who feel that their assessments are too high have sixty days from this date to file a claim for refund in district court, if they had not exercised the option of filing a petition of protest with the county assessor. Property owners cannot file a petition of protest and a claim for refund in the same year.
First half property taxes unpaid at this date are delinquent. On this date penalty and interest began to accrue. This date also controls a property owner’s right to file a claim for refund, the second method for protesting assessments. To be eligible to file a claim for refund, the owner must pay the tax billed prior to the delinquency date.
Last day to filing a claim for refund on values that were set on January 1st of the prior tax year.
Second half of tax bills are due based on values set January 1st of the previous year.
Delinquent dates for second half of taxes.
This calendar provides general information and does not cover all of the county assessor’s duties, notice there is no particular time set-aside for the assessor to value properties. Detailed information or corresponding statutes and regulations can be obtained at the county assessor’s office.