BERNALILLO COUNTY, N.M. (KRQE) – Bernalillo County commissioners are considering whether to follow the example of other counties and give low-income homeowners a break on their property taxes. But first, they want to know how much money it would cost the county.
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It could be a financial relief for homeowners with a low income in Bernalillo County. In 2021, the New Mexico legislature created a law requiring counties to examine the possibility of a tax rebate for residents, every two years. In counties that adopt it, homeowners who make less than $24,000 a year in taxable income can get between $175 and $350 yearly through a property tax rebate program.
“This would give some folks some relief given the fact that a lot of folks incomes hasn’t increased by very much,” said state senator Debbie O’Malley. When she was a Bernalillo County commissioner, she tried to introduce the ordinance years ago, but it didn’t get passed. Now, commissioners are taking another look at it following other counties who’ve implemented this including Los Alamos, Santa Fe, and Doña Ana County…