New Mexico Program Overview

• Only an applicant’s principal residence is eligible. The surrounding land may not exceed five acres. No property tax rebate is available for property that is not subject to property tax.
• The applicant must be a resident of New Mexico.
• The applicant must have been present in New Mexico for more than 6 months of the tax year.
• The applicant must be 65 years old or older. The separate refund for residents of Los Alamos County, Santa Fe County, Bernalillo County, or Doña Ana County has no age requirement.
• The applicant’s modified gross income must be less than $16,000 for the prior tax year. The modified gross income limit for residents in Los Alamos, Doña Ana, Santa Fe, and Bernalillo counties is $24,000 for the prior tax year.
• Modified gross income (also called MGI) is unique to New Mexico law. In general, modified gross income is all income and other compensation you receive from all sources (regardless of whether that income is taxable by the U.S. Government or the State of New Mexico) for you, your spouse, and your dependents.
• You are not eligible to be claimed as a dependent of another taxpayer for the previous tax year.
• The applicant may not have been an inmate for more than 6 months.

April 15, 2026

• Rebate and Credit Schedule (Form PIT-RC).
• Income Tax Return (PIT-1) from prior tax year.
• You’ll need to report your modified gross income from all sources, both taxable and nontaxable, such as wages, salaries, Social Security benefits, and unemployment income from prior tax year.
• Even if you are not required to file a PIT-1, and if New Mexico income tax was withheld from your pay, the NM Taxation and Revenue Department recommends that you file for a refund to claim refunds, rebates, and credits.
• Collect your records of the property tax billed for prior calendar year and/or the rent you paid on your principal place of residence.
• If the address on your PIT-1 return is not a Los Alamos County, Santa Fe County, Bernalillo County, or Doña Ana County address, attach a copy of your property tax statement for the Los Alamos County, Santa Fe County, Bernalillo County, or Doña Ana County property.

• Only an applicant’s principal residence is eligible. The surrounding land may not exceed five acres. No property tax rebate is available for property that is not subject to property tax.
• The applicant must be a resident of New Mexico.
• The applicant must have been present in New Mexico for more than 6 months of the tax year.
• The applicant must be 65 years old or older. The separate refund for residents of Los Alamos County, Santa Fe County, Bernalillo County, or Doña Ana County has no age requirement.
• The applicant’s modified gross income must be less than $16,000 for the prior tax year. The modified gross income limit for residents in Los Alamos, Doña Ana, Santa Fe, and Bernalillo counties is $24,000 for the prior tax year.
• Modified gross income (also called MGI) is unique to New Mexico law. In general, modified gross income is all income and other compensation you receive from all sources (regardless of whether that income is taxable by the U.S. Government or the State of New Mexico) for you, your spouse, and your dependents.
• You are not eligible to be claimed as a dependent of another taxpayer for the previous tax year.
• The applicant may not have been an inmate for more than 6 months.

April 15, 2026

• Rebate and Credit Schedule (Form PIT-RC).
• Income Tax Return (PIT-1) from prior tax year.
• You’ll need to report your modified gross income from all sources, both taxable and nontaxable, such as wages, salaries, Social Security benefits, and unemployment income from prior tax year.
• Even if you are not required to file a PIT-1, and if New Mexico income tax was withheld from your pay, the NM Taxation and Revenue Department recommends that you file for a refund to claim refunds, rebates, and credits.
• Collect your records of the property tax billed for prior calendar year and/or the rent you paid on your principal place of residence.
• If the address on your PIT-1 return is not a Los Alamos County, Santa Fe County, Bernalillo County, or Doña Ana County address, attach a copy of your property tax statement for the Los Alamos County, Santa Fe County, Bernalillo County, or Doña Ana County property.

• Only single-family dwellings are eligible for participation in the program.
• The applicant must be the owner of the property, and the property must be the applicant’s primary residence.
• Applicants must be either disabled or have reached the age of 65 during the year in which they apply.
• Applicants must have a modified gross income of $44,200 or less in 2025 for the 2026 freeze. The income limit is annually adjusted for inflation.

• Qualifying applicants must file within 30 days of the date the assessor mails the notice of valuation.
• Applicants must apply annually with the local county assessor where the property is located.
• An owner who has claimed and been allowed the limitation of value for the three previous consecutive tax years need not claim the limitation for subsequent tax years if there is no change in eligibility.

Proof of Age or Disability:

• For individuals 65+: Copy of your photo ID showing your date of birth.
• For individuals with permanent disability: Copy of the Notice of Award Letter from Social Security or any other document from Social Security indicating disability status, and a copy of the Social Security Benefit Statement (1099).

Income Verification:

• Copies of state and federal income tax forms for the year prior to application (if filed) or any other documents that will provide evidence to the Assessor that the applicant fulfills the income requirements.