Measure on the ballot in the 2024 New Mexico General Election in New Mexico.
View your personalized ballot, check your voter registration, make a plan to vote, and research every name and measure on the ballot with BallotReady.
Get StartedThis measure would amend the New Mexico Constitution to increase the property tax exemption for honorably discharged members of the armed forces or their widows or widowers from $4,000 to $10,000 beginning in tax year 2024 and annually onward in response to inflation.
A yes vote supports amending the state constitution to increase the property tax exemption for veterans from $4,000 to $10,000 and adjust it annually for inflation.
A no vote opposes amending the state constitution to increase the property tax exemption for veterans from $4,000 to $10,000.
"Helps honorably discharged veterans and their widowed spouses to maintain homeownership. Reducing the property tax paid by honorably discharged members of the armed forces and their widowed spouses supports property-owning veterans and their widows or widowers and helps them maintain homeownership, which may be especially beneficial to many who are now or will soon be living on fixed incomes, since their property taxes may keep rising even though their incomes do not." - New Mexico Legislature's Summary of and Arguments for & Against, in support of Constitutional Amendment 2 (Learn more)
"Increased exemption amount accounts for increased property values and value of the dollar. The increased exemption amount is fairer to veterans and their spouses in 2024. The current exemption was set in 2002 and, since then, the value of the dollar has increased approximately 72% while property values have increased by approximately 80%." - New Mexico Legislature's Summary of and Arguments for & Against, in support of Constitutional Amendment 2 (Learn more)
"Congress should be responsible for providing veterans' benefits. It is inappropriate for state and local governments to bear the expense of providing extended benefits to veterans in return for their service in a branch of the United States armed forces. If more generous benefits are due to veterans and their spouses, Congress should provide those benefits. The compensation and benefits given to veterans in return for their service are a national responsibility, not a state or local responsibility." - New Mexico Legislature's Summary of and Arguments for & Against, in opposition to Constitutional Amendment 2 (Learn more)
"Inflation provision would increase property taxes even more for non-veteran property taxpayers. The proposal to index the amount of exemption for inflation may continue to erode the property tax base and annually increase the property tax bills for those who are not eligible for the property tax exemption." - New Mexico Legislature's Summary of and Arguments for & Against, in opposition to Constitutional Amendment 2 (Learn more)
It is proposed to amend Article 8, Section 5 of the constitution of New Mexico to read: A. The legislature shall exempt from taxation the property of each head of the family in the amount of two thousand dollars ($2,000). B. The legislature shall exempt from taxation the property, including the community or joint property of married individuals, of every honorably discharged member of the armed forces of the United States and the widow or widower of every such honorably discharged member of the armed forces of the United States, in the sum of: (1) in 2006 and in each year through 2023, four thousand dollars ($4,000); (2) in 2024, ten thousand dollars ($10,000); and (3) in 2025 and each subsequent year, the amount provided in Paragraph (2) of this subsection, adjusted for inflation. In every case where exemption is claimed on the ground of the claimant's having served with the armed forces of the United States pursuant to Subsection B of this section, the burden of proving actual and bona fide ownership of such property upon which exemption is claimed shall be upon the claimant."
View your personalized ballot, check your voter registration, make a plan to vote, and research every name and measure on the ballot with BallotReady.