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Santa Fe, NM—The Santa Fe County Assessor’s Office is pleased to announce several key updates for 2025, which will benefit local residents, especially veterans, and enhance the quality of service provided to the community.

Beginning in 2025, the veterans’ exemption will increase significantly, offering a $10,000 reduction in taxable value, up from the previous $4,000 exemption. This change was approved by voters in 2024 and enacted through House Bill 47, passed during the 2025 New Mexico Legislative session and signed by Governor Michelle Lujan Grisham.

The increase results from a collaborative effort among the New Mexico Department of Taxation and Revenue, New Mexico Counties, the Assessors’ Affiliate, the New Mexico Department of Veterans’ Services, and numerous supportive legislators.

“This exemption increase is an important step toward honoring the sacrifices of our veterans,” said Santa Fe County Assessor Isaiah F. Romero. “It will provide greater tax relief to nearly 5,000 veterans in Santa Fe County.”

To ensure these changes are accurately reflected, the Santa Fe County Assessor’s Office will mail out Notices of Value on May 1, 2025. In recognition of the adjusted timeline, the deadline to apply for exemptions, file for benefits, or appeal property valuations has been extended to 30 days after the new mailing date.

The Santa Fe County Assessor’s Office remains committed to providing exceptional service to the community and looks forward to continuing to serve residents with transparency, efficiency, and dedication.

For questions regarding the Notice of Value, property valuation, or exemptions, please contact the Assessor’s Office at (505) 986-6300 or visit www.santafecountynm.gov/assessor.

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