Socorro County Assessor Henry Jojola and his staff have mailed several thousand notices of taxable property valuations (NOVs) to county taxpayers. If you have not received your NOV by the third week in April, please contact the Assessor’s office at 575.835.0714.
Assessor Jojola emphasized that the notices are not tax bills, but they reflect the taxable value of property based on current staff appraisals. "The value is what we use to calculate property taxes in October," Jojola said. A homeowner can compare the NOV with a prior-year figure to determine the amount of anticipated property taxes.
The deadline to file for an exemption or to contest a value is April 30th. "Statutorily we are very limited in what we can change at the end of the year when a landowner receives their tax bill, in many cases our hands are tied and the only recourse is for a landowner to file a dispute with District Court." he said. This is both costly and time consuming for a landowner and the County.
Owners may also be eligible for tax exemptions, which decrease your tax obligation, but those must be filed by the deadline. Property owners can find all paperwork needed by calling the Assessor’s office of visiting us online at http://www.socorrocounty.net/elected/assessor/assessors-forms.
There are some important things to know about your 2016 NOV:
· Check to make sure that all information is correct.
Name(s) and Mailing Address
· Assessed Value is what we have your property valued at for tax purposes only.
· Taxable Value is 1/3 of your assessed value. This value is used to calculate your property taxes.
· The bottom of the NOV contains a ‘fill in the blank’ formula that you can use to calculate your estimated 2016 taxes.
net taxable value x 2015 mill rate* = 2016 ESTIMATED tax
*Sample Mill Rate 32.000. Convert mill rate = .032000
· There is a box on the bottom right of the page of your NOV that contains:
2016 Assessed Value
Total Taxable Value
Any exemptions that are being claimed on your property
· Please compare 2016 taxable value to 2015 taxable value on the lower left hand side of the document.
· Any changes regarding your value must be done by April 30th!!! This is the value that will be used to calculate your 2016 taxes. After this date the value CANNOT be changed until 2017.