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State Benefit·New Mexico·🏛️Tax Benefits

Veteran Property Tax Exemption

$10,000 reduction from taxable property value for all honorably discharged veterans.

Verified May 12, 2026againstdvs.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
May 12, 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

How to apply

Apply through the official New Mexico agency.

Open application

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.

Open applicationVerify at official source

Verified information & sources

Last verified: May 12, 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.

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Frequently 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 Exemption

First $30,000 of military retirement pay exempt from NM state income tax.

Approximately $1,500-$1,800/year

Military Disability Retirement Pay Exclusion

Military disability retirement pay is excluded from NM state taxable income.

Proportional Disabled Veteran Property Tax Exemption

Property tax reduction proportional to VA disability percentage for all disabled veterans. Effective 2026.

Proportional to disability rating; potentially thousands/year

100% Disabled Veteran Property Tax Exemption

Complete exemption from all property taxes on primary residence for 100% P&T disabled veterans.

$2,000-$4,000+/year on a $250,000 home

See every benefit you qualify for in New Mexico

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