44th legislature - STATE OF NEW MEXICO - second session, 2000

PROPOSING AN AMENDMENT TO ARTICLE 8, SECTION 5 OF THE CONSTITUTION OF NEW MEXICO TO PROVIDE AN ADDITIONAL EXEMPTION FROM PROPERTY TAXATION OF PROPERTY OF A VETERAN WHO SERVED HONORABLY DURING AN ARMED CONFLICT AND PROPERTY THAT IS THE PRINCIPAL RESIDENCE OF HOMEOWNERS WHO ARE SIXTY-FIVE YEARS OF AGE OR OLDER AND MEET CERTAIN INCOME ELIGIBILITY REQUIREMENTS.

BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

Section 1. 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 to the amount of two thousand dollars ($2,000) [as follows: in 1989, the legislature shall exempt from taxation eight hundred dollars ($800), in 1991, one thousand four hundred dollars ($1,400) and beginning in 1993, two thousand dollars ($2,000)].

B. The legislature shall also exempt from taxation the property, including the community or joint property of husband and wife, of every honorably discharged member of the armed forces of the United States who served in such armed forces during any period in which they were or are engaged in armed conflict under orders of the president 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 [two thousand dollars ($2,000)] four thousand dollars ($4,000). Provided, that in every case where exemption is claimed on the ground of the claimant's having served with the armed forces of the United States as aforesaid, the burden of proving actual and bona fide ownership of such property upon which exemption is claimed, shall be upon the claimant.

C. The legislature shall also exempt from taxation two thousand dollars ($2,000) of the value of property that is the principal residence of one or more taxpayers who are sixty-five years of age or older, if the income of the taxpayers occupying the residence does not exceed an amount set and determined by law, not to exceed thirty thousand dollars ($30,000) per year and if no taxpayer in the household has claimed the exemption in Subsection B of this section."

Section 2. The amendment proposed by this resolution shall be submitted to the people for their approval or rejection at the next general election or at any special election prior to that date which may be called for that purpose.