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Application-Limitation on Increase in Value for Single Family Dwellings Occupied by Low Income Owners 65 Years of Age or Older or Disabled - New Mexico
Application-Limitation on Increase in Value for Low Income Owners 65 Years of Age or Older or Disabled is a legal document that was released by the New Mexico Taxation and Revenue Department - a government authority operating within New Mexico.
FAQ
Q: What is the application-limitation on increase in value for single family dwellings?
A: It is a restriction on how much a single-family dwelling's value can increase.
Q: Who does this limitation apply to?
A: It applies to low income owners who are 65 years of age or older or disabled.
Q: What is considered a low income owner?
A: A low income owner is someone who earns below a certain income threshold.
Q: What happens if the owner meets the criteria?
A: If the owner meets the criteria, the increase in value of their dwelling is limited.
Q: Why is this limitation in place?
A: This limitation is in place to protect low income owners from significant property value increases and higher property taxes.
Q: Is this limitation specific to New Mexico?
A: Yes, this limitation on increase in value for single-family dwellings is specific to New Mexico.
Form Details:
- The latest edition currently provided by the New Mexico Taxation and Revenue Department;
- Ready to use and print;
- Easy to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a printable version of the form by clicking the link below or browse more documents and templates provided by the New Mexico Taxation and Revenue Department.
Download Application-Limitation on Increase in Value for Single Family Dwellings Occupied by Low Income Owners 65 Years of Age or Older or Disabled - New Mexico
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