The bill amends Section 7-38-17 NMSA 1978, which pertains to the claiming of tax exemptions for veterans and other eligible individuals. 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.

The bill also 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. Furthermore, the bill requires the veterans' services department to issue certificates of eligibility for veteran exemptions and includes provisions for verifying that exemptions are not claimed multiple times across different counties or properties. Violations of these provisions are classified as misdemeanors, with penalties including fines and potential removal from office for assessors who allow ineligible claims.

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