What is the New Mexico Property Tax Rebate?

Property Tax Rebate for Persons 65 or Older

This Rebate is for property tax billed or rent paid during the current tax year on your principal place of residence in New Mexico. The Property Tax Rebate cannot exceed $250 or, for a married taxpayer filing a separate return, the Rebate cannot exceed $125. 

Note: No Property Tax Rebate is available for property that is not subject to property tax.

Qualifications:

• Your modified Gross Income is $16,000 or less.
• You were age 65 or older on the last day of the tax year.
• You were physically present in New Mexico for at least 6 months of the tax year.
• You are not eligible to be claimed as a dependent of another taxpayer.
• You were not an inmate of a public institution for more than 6 months of the tax year.

Note: The 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. If you have more acreage than is reasonably necessary to maintain a dwelling, adjust the amount of property tax billed to reflect the principal place of residence only. You may use only this smaller amount to calculate the tax rebate. See the PIT-RC instructions for further information.

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

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

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

Qualifications:

• You have a principal place of residence in Los Alamos County, Santa Fe County, Doña Ana County, or Bernalillo County.
• You have a modified Gross Income 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 are not eligible to be claimed as a dependent by another taxpayer for the tax year.
• You were not an inmate of a public institution for more than 6 months of the tax year.

Note: 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, Doña Ana County, or Bernalillo County, you may be eligible to claim the “Property Tax Rebate for Persons 65 or Older” AND the Low Income Property Tax Rebate. 

Where do I enter?

1. State Section
2. Three dots to edit the New Mexico State return
3. Credits 
4. Property Tax Rebate For Persons Over 65 or Older or, Low Income Property Tax Rebate For Los Alamos, Santa Fe County, Dona Ana Residents Only