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Absolutely. Please submit your change of mailing address on one of three forms 1) that provided with your Notice of Value 2) that provided on the back of your Tax Payment Coupon or 3) the Change of Mailing Address Affidavit. Mailing address changes must be submitted in writing. For further instructions, see the Change of Mailing Address Affidavit. Without your current mailing address Grant County cannot ensure that you will receive your Notice of Value, your Tax Bill, and other communications from the county.
Download the Change of Mailing Address Affidavit (PDF).
The valuation set for property by the County Assessor is an estimate of the market value of your property, i.e., your residence, vacant land, commercial property, or other taxable property.
The Assessor is required by state law to value the property at 100% of current market value as determined by sales of comparable property (7-36- 15 NMSA 1978)
Each year the Assessor mails property owners a “Notice of Value”. This form informs the owner of the property’s total assessed value, property description and exemptions applied to the property. Read this documents carefully! The valuation plays a role in determining property taxes paid to the Treasurer’s Office. A property owner has thirty days from the official mailing date to apply for exemptions or to appeal the valuation.
The Assessor is required to mail one Notice of Value for each assessed property by April 1st of each year. (7-38- 20 NMSA 1978).
More than likely, the value of your residential property assessment increased because the assessor’s valuation has been capped in prior years while the market was increasing by much more than 3%. The capped value may be very low in relation to the real time market value and therefore may not reflect the current market value. Therefore, it must be reappraised and increased by up to 3% per year.
The total value determined by the assessor for real property each tax year is based on market value of the property in the prior year. For example, your 2011 Notice of Value will reflect a 2010 market value. Under state law, valuation increases on residential property must not increase more than 3% per year of the prior year's assessed value. The limitation does not apply to:
Property that has changed ownership due to a sale. In the event of a sale, the valuation cap is removed in the tax year after the sale and the valuation must be changed to reflect market value. Property that is placed on the tax rolls for the first time. Any new improvements made to a property (i.e. additions, outbuildings, etc.) Property whose use or zoning has changed.
A property owner may protest the value or classification by the Assessor, the allocation of the value of the property, or denial of a claim by filing a petition with the Assessor no later than 30 days after the mailing of Notice of Value. A taxpayer may file a letter of inquiry and the Assessor may elect to resolve the question without going through a formal protest.
After receiving the Notice of Value:
Yes, you may. The Assessor’s valuation record is public record, though there are some exceptions and/or limitations (refer to 7-38-4 and 7-38-19).