Staff member explains how 'modified gross income' affects valuation-freeze eligibility
At a community Q&A, a staff member said 'modified gross income' — New Mexico's personal-income-tax measure that includes Social Security, annuities and dividends — is used by property-tax assessors to decide eligibility for the valuation-freeze program for seniors and people with disabilities.
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At a property-owner Q&A at the Kiki Saavedra Community Center, Damian Lara opened the session and invited residents to ask about tax and title obligations. During the first audience question, a staff member explained how assessors use income data to evaluate program eligibility.
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