valuation

Estimated Property Tax Levy Disclosure (New Mexico)

Under NMSA 47-13-4, before accepting an offer on residential property, the seller or seller's broker must request the estimated property tax levy from the county assessor using the listed price as the value. The written response goes to the buyer or buyer's broker, who passes it to the buyer immediately, and the buyer acknowledges receipt in writing. A buyer may waive it in writing if not readily available. It matters because a residence's 3% annual valuation cap resets to current value on a change of ownership.