Bill > HJR3

This Joint Resolution proposes an amendment to the New Mexico Constitution to increase the property tax exemption for honorably discharged members of the armed forces and their surviving spouses from $4,000 to $10,000, beginning in 2023. Property tax exemptions are reductions in the assessed value of property that lower the amount of tax owed. The resolution, which is House Joint Resolution 3, also clarifies that the burden of proof for ownership of the property rests with the claimant seeking the exemption. If approved by the legislature, this constitutional amendment will be put to a vote of the people at the next general election.