The office of the Bernalillo County Treasurer is responsible for collecting property taxes on behalf of the County, City of Albuquerque, Alburquerque Public Schools and other taxing entities within the County. It also invests surplus monies until they are needed for county operations. In addition to the property taxes, the Treasurer’s Office collects fees for services, licenses and revenues from bond issues and special assessments.
The Treasurer’s Office provides several options for paying property taxes. These include the traditional semi-annual payment, which is due between November 10 and December 10. The second half of property taxes are due on April 10, and delinquent after May 10. Payments can be made by cash, personal check, money order or credit card. The Treasurer’s office also accepts payments online.
In the past year, the Treasurer’s Office collected more than $1 billion in property taxes. Those funds are shared among local taxpayers: education received 34%, county and cities/villages 21%, health/UNMH 15%, environmental and state 4%. Bearce’s top priorities for the property tax paying community remain customer service and transparency.
How Does New Mexico Property Tax Work?
In New Mexico, property taxes are levied and collected locally. The county assessor values all real property for tax purposes, including land, buildings, mobile homes, manufactured homes, and business personal property. The assessed value of the property is divided into two parts: taxable and exempt. The taxable portion of the property is used to calculate taxes paid to Sandoval County, debt service bonds, schools in municipal areas, and other agencies.
Each year, the assessor sends a Notice of Valuation to each property owner. Property owners are responsible for recording conveyance documents and notifying the assessor’s office of changes in ownership. This facilitates updates in the records and ensures that property owners receive valuation notices and tax bills at their correct addresses.
The Head of Family exemption is a $2,000 reduction in taxable value for qualified property owners. The state also offers veterans and disabled persons a property waiver. This is a $4,000 reduction in the taxable value of the primary residence. Eligibility is determined by the NM Department of Veterans’ Services, which provides the property owner with a certificate of eligibility.
The County Treasurer’s office accepts payments in person, by phone and online. Cash, checks, and credit cards are accepted. A convenience fee is charged by the third-party payment processing company. There is also an automatic tax bill payment option available, which deducts half-payments from a U.S. checking or savings account on December and May due dates.