Frequently Asked Questions
SHOULD I NOTIFY THE ASSESSOR OF A CHANGE IN MAILING ADDRESS?
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.
Click here for the Change of Mailing Address Affidavit
WHAT DOES PROPERTY VALUATION MEAN?
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.
HOW ARE THE CHANGES IN THE VALUE OF MY PROPERTY DETERMINED?
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)
WHAT IS THE NOTICE OF VALUATION?
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.
WHEN IS THE NOTICE OF VALUE MAILED?
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).
WHY DID MY PROPERTY VALUE INCREASE 3%?
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.
ARE THERE LIMITS ON VALUATION INCREASES?
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.
WHEN CAN I PROTEST MY VALUATION AS DETERMINED BY THE ASSESSOR?
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.
WHAT IS THE PROTEST PROCESS IF I DISAGREE WITH THE ASSESSOR’S VALUATION?
After receiving the Notice of Value:
1) Review the Petition for Protest Guidelines.
2) Fill out the Petition for Protest form that is available at the County Assessor’s Office or online. Make sure the form is filled out completely.
3) You may mail in the form or bring to the Assessor’s Office in person. It will be helpful if you provide copies (not originals) of your supporting documentation.
4) An Appraiser will review the account and may conduct field work and analysis in response to the protest. After this review the Appraiser will contact you with additional information in support of a resolution.
5) An informal meeting may be set with an Appraiser. Resolutions are often accomplished at this point. Resolutions are recorded using a Protest Withdrawal Form.
6) If necessary, a formal hearing with the Valuation Protest Board will be scheduled.
7) If the dispute is not resolved satisfactorily at the board hearing, you may appeal the board’s ruling in District Court.
Click here for the Petition for Protest Guidelines
Click here for the Petition for Protest Form
Click here for the Protest Withdrawal Form
MAY I REVIEW MY RECORDS AT THE ASSESSOR’S OFFICE FOR MY PROTEST?
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).