SANTA FE, NM – New Mexico veterans and their families are closer to receiving much-needed support as two resolutions passed the Senate chamber unanimously Friday.
“I am so proud that these resolutions have finally passed both chambers after over four years of fighting for our veterans,” Representative Eliseo “Lee” Alcon (DDist. 6) said. “These measures help lighten financial loads for those who have served our country selflessly.”
House Joint Resolution 5 (HJR5) and House Joint Resolution 6 (HJR6) would both make amendments to the state’s constitution.
HJR5 would 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, HJR6 looks to increase the property tax valuation deduction for veterans from $4,000 to $10,000, and then after, adjusted for inflation.
A sentence was erroneously omitted in a previous press release that explained that the passage of the resolutions by the NM Legislature would allow the proposed tax exemption amendments to be added to an upcoming general election for voters’ consideration.
With the passage of both resolutions by the Senate, voters can expect to see the two amendments on the 2024 general election in November.