HB 71 - Limits Valuation Increases on Certain Properties - New Mexico Key Vote
Zach Cook Did Not Vote on this Legislation.
Timeline
- House Bill Passed
- Feb. 9, 2022
- Introduced
- Jan. 19, 2022
Related Issues
Stage Details
Title: Limits Valuation Increases on Certain Properties
Vote Smart's Synopsis:
Vote to pass a bill that limits valuation increases on certain properties.
Highlights:
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Limits valuations of residential property occupied as principal place of residence in any tax year (Sec. 1).
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Specifies limit of 103% of value in tax year prior to tax year of valuation; 106.1% of value in tax year two years prior to tax year of valuation (Sec. 1).
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Specifies limits of 110%, 121% for non-principal residences (Sec. 1).
Title: Limits Valuation Increases on Certain Properties