HEAD OF FAMILY EXEMPTIONS

In New Mexico, a homeowner can apply for the Head of Family exemption which allows a $2000 exemption from the taxable value of the residential property. This applies only if the home is the primary residence and not vacant property, now a second home nor a commercial holding. Owners of manufactured homes are eligible too. The exemption doesn’t mean that $2000 is subtracted from their property tax but that the value of the property is reduced by $2000 for taxation purposes so about $80 per year is saved. The application form is issued by the County Tax Assessor’s office or can be done by phone. The exemption is for the next taxable year, and cannot be applied retroactively.
Other exemptions are $4000 for Veterans’ when a certificate of eligibility is provided from the NM Veterans’ Service Commission. Homeowners over 65 or disabled can apply for a Value Freeze program if their modified gross household income is $32,000 or less.
Who qualifies as “Head of Family”? A married person, but only one spouse can be listed. A widow or widower. A person furnishing more than one-half the cost of support of a related person. A single person and a member of a condominium association who pays the property tax.
It is a good idea anyway to check annually on www.bernco.gov under Assessor to make sure the ownership information is accurate and to see that the exemption is noted.