The bill amends Section 7-38-17 NMSA 1978, which pertains to the claiming of tax exemptions for veterans and other related exemptions. It establishes that head-of-family, veteran, disabled veteran, and veterans' organization exemptions do not need to be claimed in subsequent tax years if there is no change in eligibility or property ownership. These exemptions will be applied automatically by county assessors in future tax years. Additionally, it clarifies that other exemptions for nongovernmental entities must be claimed but can also be automatically applied in subsequent years if eligibility remains unchanged.

Furthermore, the bill outlines the process for claiming exemptions, including a requirement to apply within thirty days of receiving the county assessor's notice of valuation. It mandates that individuals who lose eligibility for an exemption must notify the county assessor by the end of February of the following tax year. The bill also introduces regulations for verifying eligibility for veteran exemptions, including the issuance of certificates of eligibility by the veterans' services department. Violations of these provisions can result in misdemeanor charges and fines, as well as automatic removal from office for county assessors who knowingly allow ineligible claims.

Statutes affected:
introduced version: 7-38-17
Final Version: 7-38-17