County Assessor

Assessor Giddings Publishes the Annual Notice of Reporting Requirements

02/15/2021

Bernalillo County Assessor Tanya R. Giddings would like to remind all property owners that the Notice of Reporting Requirements were shared once a week during the first three weeks of January in the Albuquerque Journal’s legal section, and the requirements apply towards the values currently being prepared by the Office of Assessor for the 2021 Notices of Values that property owners will receive come April and May. This notice outlines the certain provisions concerning reporting property to the Office of the Assessor for valuation and the claiming of available personal and organizational exemptions, and special methods of valuation. The goal of the Office of the Assessor is to ensure all property owners in the county are aware of the statutes and provisions of each section, especially reporting deadlines. Below is a brief summary of the provisions of each section.

Section 7-38-8, Reporting of property for valuation:

All property is subject to valuation for property taxation purposes and needs to be reported annually, failure to report by the last day of February 2021 the property will be valued by using the best information available.

Section 7-38-8(C), Improvements made to real property:

Any improvements made to real property during 2020, with a value greater than $10,000 needs to be reported by the last day of February 2021. The report must contain the property improved, the improvements made, and the cost of the improvements.

Section 7-38-8.1 and 7-38-17 (for clarity), Claiming Exemptions:

All real property owned by any nongovernmental entity and claimed to be exempt from property taxation must be reported. Exemptions must be applied for no later than thirty days after the mailing of the notices of valuation. An exemption applied to a prior tax year and subsequently becomes ineligible for the exemption because of a change in the person's status or a change in the ownership of the property against which the exemption was applied must be reported by the last day of February 2021.

Section 7-38-13, Filing statements of decrease in value of property:

Any property owner who believes that the value of their property has decreased in the previous tax year may file a signed statement describing the property affected, the case and nature of the decrease in value and the amount by which the owner contends the valuation of the property has decreased, no later than the last day of February 2021.

Section 7-38-17, Requirements for claiming veteran, disabled veteran, head-of-family and other exemptions:

Property owners who believe their real property is entitled to a head-of-family, veteran, or disabled veteran exemptions from property taxation, must apply for exempt status no later than thirty (30) days after the mailing of the notices of valuation.

Section 7-38-17.1, Requirement for declaring residential property and changes in use of property:

Property subject to valuation is presumed to be nonresidential and will be so recorded unless the property owner declares the property to be residential no later than the last day in February 2021. Also by that same date the property owner needs to declare the property that is subject to valuation for property taxation purposes that has changed in use from residential to nonresidential or residential to nonresidential.

Section 7-36-21.3, Limitation on increase in value for single-family dwellings occupies by:

Property owners who are 65 years of age or older or who are disabled regardless of age and have a modified gross income of $35,400 or less are eligible for a valuation freeze, which prevents the property valuation from increasing each year on their primary residence.

Section 7-36-20, Land used for agricultural purposes:

The value of land used primarily for agricultural purposes is determined on the basis of the land's ability to produce agricultural products. Applications must be made no later than 30 days after the mailing of the notices of valuation for property tax year 2021. If your land was valued in accordance with the special method of valuation in 2020, but it is no longer used primarily for agricultural purposes, you must report the change no later than the last day of February 2021.

Section 7-36-21, Livestock Reporting:

Livestock present in the county on Jan. 1, 2021 must be reported no later than the last day of February 2021, livestock transported into the county after Jan.1, 2021 must be reported no later than the first day of the month following the month in which the livestock has been present in the county for twenty (20) days.

Section 7-36-26, Manufactured Home Reporting:

If you own a manufactured home, you must report it no later than the last day February 2021.
The notice posted in the Albuquerque Journal is only a brief statement of the governing statutes and regulations and is not intended to reflect the full content of these provisions.

Applications and forms are available at www.bernco.gov/assessor and must be submitted to the Office of the Assessor by the date and in the manner prescribed under applicable statutes. If any additional information is needed, please call 505-222-3700.

back to list
View All Events
County Meetings
Upcoming Events
    Powered by Real Time Solutions - Website Design & Document Management