What is the New Mexico Property Tax Rebate?

Property Tax Rebate for Persons 65 or Older

This is a rebate that New Mexico offers for property tax billed or rent paid during the tax year on your principal place of residence in New Mexico. The credit cannot exceed $250 or $125 for married filing separately.

NOTE: No property tax rebate is available for property that is not subject to property tax.

Qualifications:

• Your modified AGI is $16,000 or less.
• You were age 65 or older on the last day of the tax year.
• You were physically present in NM for at least 6 months of the tax year.
• You cannot be claimed as a dependent.
• You were a resident of New Mexico during the tax year
• You were not an inmate of a public institution for more than 6 months of the tax year.

Amount of rebate is limited to include only the amount of land 'reasonably necessary to use the dwelling as a home". The surrounding land may not exceed five acres. See the PIT-RC instructions for complete details. 

Additional Low Income Property Tax Rebate for Los Alamos, Santa Fe County and Doña Ana County Residents Only:

This is a low income property tax rebate for property taxes that were paid during the tax year if your principal place of residence was in Los Alamos County, Santa Fe County or Doña Ana County. The credit cannot exceed $350 or $175 for married filing separately. 

NOTE: No rebate is available for properties that are not subject to property taxes.

Qualifications:

• You have a principal place of residence in Los Alamos County, Santa Fe County or Doña Ana County.
• You have a modified AGI of $24,000 or less.
• You were a New Mexico resident during the tax year.
• You were physically present in New Mexico for at least 6 months in the tax year.
• You cannot be claimed as a dependent on another return for the tax year.
• You were not an inmate for more than 6 months of the tax year.

There is no age limit to claim this rebate. However, if you are age 65 or older and live in Los Alamos County, Santa Fe County or Doña Ana County, you may be eligible for the “Property Tax Rebate for Persons 65 or Older” AND the Low Income Property Tax Rebate. 

Where do I enter?

1. State Section
2. Credits 
3. Property Tax Rebate For Persons Over 65 or Older or Low Income Property Tax Rebate For Los Alamos, Santa Fe County or Dona Ana Residents Only