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County Assessor Accepting Annual Applications For Valuation Freezes

Santa Fe, NM – February 20, 2014 – The Santa Fe County Assessor’s Office would like to notify Santa Fe County residents they are now accepting applications for valuation freezes. Santa Fe County property owners who occupy single-family dwellings and meet certain criteria may be eligible for a freeze of their taxable value as determined by the Santa Fe County Assessor's Office. Freezing the property valuation will minimize future tax obligations for those who qualify.

The valuation freeze is available to property owners age 65 or older or those who are considered permanently disabled and whose total household modified gross income did not exceed $32,000 in 2013. All applicants must meet the income requirement. Modified gross income is defined as all income from all sources undiminished by losses.

To qualify for the valuation freeze, you must apply annually no later than 30 days after the official date of mailing of the Santa Fe County Assessor's Official Notice of Value. This year's notices will be mailed in April.

An owner who has claimed and been allowed the limitation of value for the three consecutive tax years immediately prior to the 2014 tax year need not claim the limitation for subsequent tax years, if there is no change in eligibility. The Assessor will continue to apply the limitation automatically until a change in eligibility occurs and is reported by the owner.

Supporting documentation required when attempting to qualify by age and income includes:

A completed applicationProof of income (a copy of the property owner’s 2013 New Mexico income tax return, and a copy of the property owner’s 2013 federal income tax return)Proof of age (a valid New Mexico driver's license or birth certificate)

Supporting documentation required when attempting to qualify due to disability and income include:

a completed applicationproof of income (a copy of the 2013 New Mexico income tax return, and a copy of the property owner’s 2013 federal income tax return)an award letter from either Social Security or Workers' Compensation confirming the permanent disability

"The valuation freeze important and very beneficial for those individuals that qualify, we encourage people to apply and utilize this benefit,” said County Assessor Domingo Martinez

Applications are available at the Santa Fe County Assessor's Office at 102 Grant Ave., Santa Fe. Residents with Internet access may also download an application from www.santafecountynm.gov/assessor/downloadable_forms