NMSA 1978, § 7-2-18 — 7-2-18

Tax rebate of property tax due that exceeds the elderly
taxpayer's maximum property tax liability; refund.

# A.

Any resident who has attained the age of sixty-five and files an individual New
Mexico income tax return and is not a dependent of another individual may claim a tax
rebate for the taxable year for which the return is filed. The tax rebate shall be the
amount of property tax due on the resident's principal place of residence for the taxable
year that exceeds the property tax liability indicated by the table in Subsection F or G,
as appropriate, of this section, based upon the taxpayer's modified gross income.

# B.

Any resident otherwise qualified under this section who rents a principal place of
residence from another person may calculate the amount of property tax due by
multiplying the gross rent for the taxable year by six percent. The tax rebate shall be the
amount of property tax due on the taxpayer's principal place of residence for the taxable
year that exceeds the property tax liability indicated by the table in Subsection F or G,
as appropriate, of this section, based upon the taxpayer's modified gross income.

# C.

As used in this section, "principal place of residence" means the resident's
dwelling, whether owned or rented, and so much of the land surrounding it, not to
exceed five acres, as is reasonably necessary for use of the dwelling as a home and
may consist of a part of a multidwelling or a multipurpose building and a part of the land
upon which it is built.

# D.

No claim for the tax rebate provided in this section shall be allowed a resident
who was an inmate of a public institution for more than six months during the taxable
year or who was not physically present in New Mexico for at least six months during the
taxable year for which the tax rebate could be claimed.

# E.

A husband and wife who file separate returns for a taxable year in which they
could have filed a joint return may each claim only one-half of the tax rebate that would
have been allowed on a joint return.

# F.

For taxpayers whose principal place of residence is in a county that does not
have in effect for the taxable year a resolution in accordance with Subsection J of this
section, the tax rebate provided for in this section may be claimed in the amount of the
property tax due each taxable year that exceeds the amount shown as property tax
liability in the following table:
ELDERLY HOMEOWNERS' MAXIMUM PROPERTY TAX LIABILITY TABLE
Taxpayers' Modified Gross Income Property Tax
Liability
Over But Not
Over
$ 0 $ 1,000 $ 20
1,000 2,000 25
2,000 3,000 30
3,000 4,000 35
4,000 5,000 40
5,000 6,000 45
6,000 7,000 50
7,000 8,000 55
8,000 9,000 60
9,000 10,000 75
10,000 11,000 90
11,000 12,000 105
12,000 13,000 120
13,000 14,000 135
14,000 15,000 150
15,000 16,000 180.

# G.

For taxpayers whose principal place of residence is in a county that has in effect
for the taxable year a resolution in accordance with Subsection J of this section, the tax
rebate provided for in this section may be claimed in the amount of the property tax due
each taxable year that exceeds the amount shown as property tax liability in the
following table:
ELDERLY HOMEOWNERS' MAXIMUM PROPERTY TAX LIABILITY TABLE
Taxpayers' Modified Gross Income Property Tax
Liability
Over But Not
Over
$ 0 $ 1,000 $ 20
1,000 2,000 25
2,000 3,000 30
3,000 4,000 35
4,000 5,000 40
5,000 6,000 45
6,000 7,000 50
7,000 8,000 55
8,000 9,000 60
9,000 10,000 75
10,000 11,000 90
11,000 12,000 105
12,000 13,000 120
13,000 14,000 135
14,000 15,000 150
15,000 16,000 165
16,000 17,000 180
17,000 18,000 195
18,000 19,000 210
19,000 20,000 225
20,000 21,000 240
21,000 22,000 255
22,000 23,000 270
23,000 24,000 285
24,000 25,000 300.

# H.

If a taxpayer's modified gross income is zero, the taxpayer may claim a tax
rebate based upon the amount shown in the first row of the appropriate table. The tax
rebate provided for in this section shall not exceed two hundred fifty dollars ($250) per
return, and, if a return is filed separately that could have been filed jointly, the tax rebate
shall not exceed one hundred twenty-five dollars ($125). No tax rebate shall be allowed
any taxpayer whose modified gross income exceeds sixteen thousand dollars ($16,000)
for taxpayers whose principal place of residence is in a county that does not have in
effect for the taxable year a resolution in accordance with Subsection J of this section
and twenty-five thousand dollars ($25,000) for all other taxpayers.

# I.

The tax rebate provided for in this section may be deducted from the taxpayer's
New Mexico income tax liability for the taxable year. If the tax rebate exceeds the
taxpayer's income tax liability, the excess shall be refunded to the taxpayer.

# J.

The board of county commissioners may adopt a resolution authorizing otherwise
qualified taxpayers whose principal place of residence is in the county to claim the
rebate provided by this section in the amounts set forth in Subsection G of this section.
The resolution must also provide that the county will reimburse the state for the
additional amount of tax rebates paid to such taxpayers over the amount that would
have been paid to such taxpayers under Subsection F of this section. The resolution
may apply to one or more taxable years and shall specify the period of time for which
the rebate provided by this section may be claimed by qualified taxpayers. The county
must adopt the resolution and notify the department of the adoption by no later than
September 1 of the taxable year to which the resolution first applies. The department
shall determine the additional amounts paid to taxpayers of the county for each taxable
year and shall bill the county for the amount at the time and in the manner determined
by the department. If the county fails to pay any bill within thirty days, the department
may deduct the amount due from any amount to be transferred or distributed to the
county by the state, other than debt interceptions.