Bill > HJR10

This Joint Resolution proposes to amend the constitution of New Mexico to increase the property tax exemption for honorably discharged members of the armed forces and their surviving spouses. Currently, the exemption is $4,000 for years 2006 through 2023, but this resolution would raise it to $5,000 starting in 2024. It also clarifies that the exemption applies to married individuals and that the person claiming the exemption must prove they actually own the property. This proposed change, if approved by voters in an election, would provide a greater property tax benefit to veterans and their widows or widowers.