The bill amends the Disabled Veteran Property Tax Exemption in New Mexico, clarifying occupancy requirements and exemption determinations for properties with multiple ownership interests. It specifies that the property of a disabled veteran, including joint or community property with their spouse, is exempt from property taxation based on the percentage of the veteran's disability, provided the veteran occupies the property as their principal residence. Additionally, the bill allows the surviving spouse of a disabled veteran to maintain the property tax exemption if they continue to occupy the property after the veteran's death. The bill also introduces procedures for claiming the exemption and for protesting any denials or pending claims.

Furthermore, the bill outlines the responsibilities of property owners regarding the notification of changes in eligibility for exemptions and establishes penalties for those who intentionally claim exemptions they are not entitled to. It includes provisions for the veterans' services department to assist in determining eligibility and requires the issuance of certificates of eligibility for veterans. The bill declares an emergency, necessitating its immediate effect for the public peace, health, and safety.

Statutes affected:
introduced version: 7-37-5.1, 7-38-17, 7-38-21, 7-38-24
Final Version: 7-37-5.1, 7-38-17, 7-38-21, 7-38-24