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New Mexico / State / 56th Legislature, 1st Session, 2023

HJR 6 (2023), approved November 5, 2024 Amended Article 8, Section 5 to raise the veteran exemption from $4,000 to $10,000 and index it

Catalog reconciledEnactedFigure moved

Signed

Expands benefits Raises the veteran property tax exemption from $4,000 to $10,000 and indexes it.

The amended section says $4,000 through 2023, $10,000 "in 2024" and inflation adjustment "in 2025 and each subsequent year". The implementing statute, Laws 2025, ch. 10, runs a year behind: $4,000 through 2024, $10,000 for 2025, indexing from 2026.

Progress

Path to law: Measure referred to the voters

  1. Introduced Done,
  2. In committee Done, House Labor, Veterans' and Military Affairs, then Taxation and Revenue
  3. Passed one chamber Done, House, 68-0
  4. Passed the legislature Done, Senate, 38-0
  5. On the ballot Done, date not recordedNovember 5, 2024 general election
  6. Approved by voters Done,
  7. In effect Done,

Sponsors

  • Eliseo Lee AlconSponsor, Democratic, House, District 6
  • Harry GarciaSponsor, House
  • John BlockSponsor, Republican, House, District 51
  • Alan T. MartinezSponsor, Republican, House, District 23
  • Cynthia BorregoSponsor, Democratic, House, District 17
  • Stefani LordCo-sponsor, Republican, House, District 22
  • Patricia Roybal CaballeroCo-sponsor, Democratic, House, District 13

What it touches

  • N.M. Const. art. VIII, § 5

Catalog entry

Official record

Read HJR 6 (2023), approved November 5, 2024 on the jurisdiction's own record