Bill > HJR6

This Joint Resolution proposes to amend the New Mexico Constitution to increase the property tax exemption for honorably discharged veterans and their surviving spouses. Currently, veterans receive a $4,000 exemption, but this resolution would gradually increase that amount to $10,000 starting in 2024, and then adjust it for inflation in subsequent years. The resolution also clarifies that the exemption applies to married individuals and specifies that the veteran claiming the exemption must prove they actually own the property. If approved by voters, this change would take effect after the next general election.