SANTA FE, NM – Legislation designed to help New Mexico veterans and their families unanimously passed the House and will face the Senate Tax, Business and Transportation Committee Tuesday.
Representative Eliseo “Lee” Alcon (D-District 6) sponsored House Joint Resolution 5 and House Joint Resolution 6 for the fourth year. “I have fought to support our veterans, and believe these tax exemptions will provide much needed relief to those who have protected us the most,” Rep. Alcon said.
House Joint Resolution 5 would amend the state’s constitution to allow any veteran, or veteran’s widow or widower to receive a tax exemption based on the veteran’s disability rating. Current law only allows veterans with 100% disability findings to receive a property tax exemption.
The second resolution, House Joint Resolution 6 looks to increase the property tax exemption for veterans from $4,000 to $10,000, adjusted for inflation.
Both resolutions, if passed, will take effect June 16, 2023.