1. All NM Taxes
  2. Frequently Asked Questions
  3. What effect on valuation does the 65-and-older limitation have?

What effect on valuation does the 65-and-older limitation have?

If a qualifying applicant is 65 or older or is disabled, the value of the property cannot increase from the prior year. The applicant must file yearly and provide the assessor with proof of age, occupancy and income for the tax year for which application is made.