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Property Tax Update

Albuquerque, New Mexico, Property Taxes, Todd Clarke Comments Off on Property Tax Update

Spring is almost here, and that means its time to start looking in the mail for our notice of value property tax forms.

First on a macro level – the legislature is 12 days away from completing its 60 day session, and they are working on a couple of bills that could impact property owners.

House Bill 117 – appears to be DOA, and would have allowed a some disclosure to go into place – http://www.toddclarke.net/?p=1651
House Bill 521 – is working its way through various committees and currently has the support of RANM and the county assessors, but is being opposed by Apartment Association of NM which is attempting to make modifications to the bill – http://openstates.org/nm/bills/2013/HB521/documents/NMD00012252/
In it’s current form, HB 521 would not go into effect until 2014.

I recently taught the property tax course for a Santa Fe brokerage firm and they had invited two of the better county appraisers to attend. They were kind enough to share an interesting bit of info that should make tracking our notices of value easier – in 2014, notices of value should have a side by side comparison this years value vs. last years – an example can be found here – http://www.toddclarke.net/?p=1661

Notice of value dates
On a micro level – we have contacted all 33 assessors across the state as to their likely release dates for notices of value. A complete list can be found here – http://www.toddclarke.net/?p=1656 . Please note that their is an update for Bernalillo County (see below).

Changes at Bernalillo County
Although notices of value were prepared to go out earlier this year, Bernalillo County has a new assessor who has requested an extension until May 1st, 2013. For those of us who own commercial properties, their current valuation is in limbo as the commercial team is looking to hire a new commercial manager to provide direction for this years notices of value, all of which has led to a great deal of uncertainty as to what this means for values this year.

Class
If you need Continuing Education (CE) hours, or you think you would like to handle your own cases, we are offering our 8 hour “Understanding NM’s property tax system course” on 4/2/2013. The course is $99 if you use a PDF version of the textbook, or $149 if you need a printed one – seating is limited and registrations can be taken here – http://www.canteraconsultants.com/registration

As always, if you have any questions, please do not hesitate to contact me.
Thanks,
Todd

Todd Clarke @ March 5, 2013

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