Are You Prepared for the New Mexico Commercial Real Estate Appeal Deadline?
Matt Poling, Principal 720.524.0022 | matt.poling@ryan.com
The 2023 New Mexico appeal deadline is fast approaching. With property tax being one of the single-largest operating expenses, it is imperative that property owners thoroughly review their property tax assessments. Counties in New Mexico collect an average of 1.2–1.5% of a property’s assessed fair market value as property tax per year.
County assessors reassess properties within their boundaries on January 1 of each year, and the official Notices of Value are mailed April 1. You can appeal property taxes in New Mexico if you have reasons and evidence showing that your commercial real estate valuation is higher than its market value. The first step of appeal is a petition to the county assessor within 30 days of receiving the Notice of Value. The assessor can resolve the issues without the need for a formal appeal.
The local experts at Ryan assist New Mexico property owners with audit and appeal analysis. Our team includes some of the most highly credentialed and experienced consultants in the industry. Learn more about how our team can help with tax minimization. Reach out to one of our professionals today.