New Mexico Register / Volume XXXV, Issue 8 / April 23, 2024

NOTICE OF PROPOSED RULEMAKING

The New Mexico Taxation and Revenue Department hereby gives notice as required under Section 14-4-5.2 NMSA 1978 and 1.24.25.11 NMAC that it proposes to amend/repeal/replace and enact certain rules and regulations pertaining to the property tax veteran exemption under Section 7-37-5 NMSA 1978 under the Imposition of Property Tax Act. The State Records Center and Archives Administrative Law Division is requiring a repeal and replace of the entire regulation part Title 3 - Taxation, Chapter 6 - Property Taxes, Part 6 - Provisions for Imposition of Tax – Applicability. See, Subsection C of 1.24.11.9 NMAC.

Summary of Proposed Changes:

The New Mexico Taxation and Revenue Department proposes to amend and enact the following rule(s):

Imposition of Property Tax Act

Repeal and replace 3.6.6 NMAC. The only changes in language are to the following language, so for ease of reference these changes are shown as amendments, see below on where to locate copies of the proposed rules:

Section 7-37-5 NMSA 1978

3.6.6.12 - Veteran Exemption

Section 7-37-5.1 NMSA 1978

3.6.6.13 - Disabled Veteran Exemption

Technical Information: No technical information was consulted in drafting these proposed rule changes.

Purpose of Proposed Rule: The proposed repeal and replace is in accordance with the SRCA requirements. The only amendments being made are to Regulations 3.6.6.12 and 3.6.6.13 NMAC in order to align the language to the last statutory changes that took place. Section 7-37-5 NMSA 1978 (2005) and Section 7-37.5.1 NMSA 1978 (2015), regarding the property tax exemption for veterans and disabled veterans.

Notice of Public Rule Hearing: A public hearing will be held on the proposed rule changes on Thursday, May 23, 2024, from 10 AM to 11 AM at the 3^rd floor in the Montoya Building, 1100 South St. Francis Drive, Santa Fe, New Mexico 87504. The hearing will be recorded, and oral comments can be made during the public hearing. Written comments can be submitted as outlined at the end of this notice.

Virtual meeting access also available using Join Zoom Meeting:

https://us02web.zoom.us/j/6586491797?pwd=QldaSFM5ZXZlaUNXU3dKNWxuZlg3dz09&omn=89327804091

Meeting ID: 658 649 1797 Passcode: 87504

The rule proposals were placed on file in the Office of the Secretary on April 8, 2024. Pursuant to Regulation 3.1.2.9 NMAC under Section 9-11-6.2 NMSA 1978 of the Taxation and Revenue Department Act, the final of the proposals, if filed, will be filed as required by law on or about June 25, 2024.

Individuals with disabilities who need any form of auxiliary aid to attend or participate in the public hearing are asked to contact Bobbie Marquez at BobbieJ.Marquez@tax.nm.gov. The Taxation and Revenue Department will make every effort to accommodate all reasonable requests but cannot guarantee accommodation of a request that is not received at least ten calendar days prior to the scheduled hearing.

Copies of the proposed rules may be found at: https://www.tax.newmexico.gov/all-nm-taxes/proposed-regulations-hearing-notices/ or are available upon request by contacting the Tax Policy Office at policy.office@tax.nm.gov.

Notice of Acceptance of Written Public Comment: Written comments on the proposals can be submitted by email to policy.office@tax.nm.gov or by mail to the Taxation and Revenue Department, Tax Information and Policy Office, Post Office Box 630, Santa Fe, New Mexico 87504-0630 on or by 5PM on Thursday, May 23, 2024. All written comments received by the agency will be posted on https://www.tax.newmexico.gov/all-nm-taxes/proposed-regulations-hearing-notices/ no more than 3 business days following receipt to allow for public review.