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House Bill 47 veterans exemption could cut Sandoval County taxable base, treasurer warns
Summary
Treasurer Taylor briefed the board on House Bill 47, a state veterans-exemption bill that would increase existing exemptions and may substantially reduce taxable value for county property, potentially affecting monthly distributions to schools and services.
Treasurer Taylor told the board that House Bill 47, a legislative change voters approved in November and now before the Legislature, would increase the residential veteran exemption from $4,000 to $10,000 beginning tax year 2025 and would index the exemption for inflation beginning in 2026.
Taylor said the bill also would change disabled-veteran exemptions so the tax exemption amount is based on the veteran's federal disability percentage. She described the bill's committee history: it was heard Jan. 29 in the House Government, Elections and Indian Affairs Committee (the…
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