Veteran Property Tax Exemption
$10,000 reduction from taxable property value for all honorably discharged veterans.
State BenefitNew MexicoTax Benefits
Verified September 30, 2026 against dvs.nm.gov
At a glance
- Benefit type
- Tax Benefits — New Mexico
- Who it's for
- Veterans
- VA rating needed
- No rating requirement
- Estimated value
- $100-$200/year
- Where it applies
- New Mexico
- Last verified
- September 30, 2026
What is Veteran Property Tax Exemption?
Veteran Property Tax Exemption is a New Mexico tax benefits benefit for veterans. $10,000 reduction from taxable property value for all honorably discharged veterans. The listed value is $100-$200/year.
Who qualifies
- Veterans
- Available to any veteran
- Honorable discharge required
- New Mexico residency
Who is eligible
Eligibility
Honorably discharged veteran; New Mexico resident. No disability rating required. Available to all veterans regardless of wartime service.
What Veteran Property Tax Exemption covers
Covers
$10,000 reduction from taxable property value annually (effective tax year 2025). Adjusted for inflation each year going forward.
Estimated savings
Typically $100-$200/year depending on county mill rate.
How to apply for Veteran Property Tax Exemption
How to apply
Submit application and DD-214 to NM Department of Veterans Services.
Verified information & sources
- Last verified
- September 30, 2026
- Official source
- dvs.nm.gov
Compiled and fact-checked against the official source linked above. Benefit rules and dollar amounts change over time — always confirm current details at the official source before applying. A county Veterans Service Officer (VSO) is a free, accredited advocate who can review your eligibility and help you file at no cost.
How VetUnlock verifies benefitsFrequently asked questions about Veteran Property Tax Exemption
Who qualifies for Veteran Property Tax Exemption?
Veteran Property Tax Exemption is for Veterans; available to any veteran; new mexico residency. See the eligibility details on this page and confirm with the official source before applying.
How much is Veteran Property Tax Exemption worth?
The listed value is $100-$200/year. Amounts can change — confirm the current figure at the official source linked on this page.
How do I apply for Veteran Property Tax Exemption?
Apply through the official source linked on this page. A county Veterans Service Officer (VSO) can review your eligibility and help you file at no cost.
Where can I verify Veteran Property Tax Exemption?
Benefit rules and dollar amounts change, so always confirm current details at the official source linked on this page. A free, accredited county or state Veterans Service Officer (VSO) can also verify your eligibility and help you apply.
Other New Mexico Tax Benefits
- Military Retirement Pay Income Tax ExemptionApproximately $1,500-$1,800/yearFirst $30,000 of military retirement pay exempt from NM state income tax.
- Military Disability Retirement Pay ExclusionMilitary disability retirement pay is excluded from NM state taxable income.
- Proportional Disabled Veteran Property Tax ExemptionProportional to disability rating; potentially thousands/yearProperty tax reduction proportional to VA disability percentage for all disabled veterans. Effective 2026.
- 100% Disabled Veteran Property Tax Exemption$2,000-$4,000+/year on a $250,000 homeComplete exemption from all property taxes on primary residence for 100% service-connected disabled veterans.