TAX LIGHTNING ISSUE HEATS UP

Last week I mentioned the issue here in New Mexico where the buyer of a new home might see a significant tax increase after purchase while the rest of us can only experience 3% property tax increase a year. One of my clients, Stephanie Dzur, challenged this unfair law as unconstitutional, and she has made an impact. Our State Senator Mark Boitano, who is also a realtor, is proposing two bills to address this issue. He has proposed that Title companies and realtors disclose the potential of a tax increase and more importantly has proposed the application of the 3% cap on homes that are sold. We are supportive and wish him success. Contact him directly if you feel strongly about this issue.