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Real property

property tax

Property tax is a tax levied or assessed on the owner of property—often real property (real estate)—that is based on the property’s appraised value. Local governments often impose property taxes to finance their school districts, police departments, fire departments, and municipal projects such as construction and maintenance of streets and roads.

Most local government authorities (often counties) allow citizens to dispute or challenge the appraised value of their property through an administrative process initiated with the tax assessor or appraisal district.

In New Mexico, property tax is imposed on the owner of real estate, such as land and buildings, based on the property's assessed value. The revenue from property taxes primarily funds local services like school districts, law enforcement, fire protection, and infrastructure projects. Property assessments are conducted by county assessors who determine the value of the property for tax purposes. Property owners in New Mexico have the right to dispute the assessed value of their property if they believe it is incorrect. This is typically done through an administrative process that begins with a formal protest to the county assessor's office. If the dispute is not resolved at the county level, property owners may appeal to the New Mexico Property Tax Division or to the courts. It is important for property owners to be aware of the deadlines and procedures for filing an appeal, as these are strictly enforced.

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Real property

property tax

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Real property

property tax

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