# New Mexico HB 47: VETERAN PROPERTY TAX EXEMPTIONS

New Mexico HB 47, VETERAN PROPERTY TAX EXEMPTIONS, is a 2025 Regular Session House bill sponsored by Art De La Cruz (Democratic); status signed, last action 2025-03-20 (Signed by Governor - Chapter 10 - Mar. 20); PRIA reads it as touching household money (as of 2026-10-16).

- Canonical: https://policyrisk.com/state-bill/NM-HB47-2025
- As of: 2026-10-16
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: New Mexico HB 47
- State: New Mexico
- Session: 2025 Regular Session
- Title: VETERAN PROPERTY TAX EXEMPTIONS
- Status: signed
- Chamber: House
- Introduced: unknown
- Last action: 2025-03-20, Signed by Governor - Chapter 10 - Mar. 20
- Sponsor: Art De La Cruz (Democratic)
- Cosponsors: 3
- Touches household money: yes
- Roll calls: 2 (101 yes, 0 no in all)
- Economic provisions PRIA read: 2

## Summary

No summary available.

## Bill overview: provisions PRIA read

- More home tax relief for disabled veterans: benefit, high. Starting in tax year 2026, veterans with permanent service-connected disabilities who meet discharge requirements get an exemption on their main home. The exempt value equals their federal disability percentage times the home's value after subtracting the regular veteran exemption; savings depend o…
- Bigger property tax break for veterans: benefit, medium. Starting with the 2026 tax year, the law applies a higher veteran property tax exemption. It raises the exempt taxable value from $4,000 to a $10,000 base set for 2025. Beginning in 2026, annual inflation adjustments are rounded down to the nearest $100, and the exemption cannot decrease. Eligible…

## Sponsors and cosponsors

- Sponsor: Art De La Cruz (Democratic), House
- Cosponsor: Alan T. Martinez (Republican), House
- Cosponsor: Luis M. Terrazas (Republican), House
- Cosponsor: Natalie Figueroa (Democratic), Senate

## Roll call votes

| Date | Chamber | Motion | Result | Yes | No | Other |
| --- | --- | --- | --- | --- | --- | --- |
| 2025-03-12 | Senate | Final Senate Vote | pass | 39 | 0 |   |
| 2025-02-15 | House | Final House Vote | pass | 62 | 0 |   |

## Actions (10)

- 2025-03-20: Signed by Governor - Chapter 10 - Mar. 20 (Senate)
- 2025-03-12: Passed in the Senate - Y:39 N:0 (Senate)
- 2025-03-11: SJC: Reported by committee with Do Pass recommendation (Senate)
- 2025-03-06: STBTC: Reported by committee with Do Pass recommendation (Senate)
- 2025-02-17: Sent to STBTC - Referrals: STBTC/SJC (Senate)
- 2025-02-15: Passed in the House of Representatives - Y:62 N:0 (House)
- 2025-02-12: HTRC: Reported by committee with Do Not Pass but with a Do Pass recommendation on Committee Substitution (House)
- 2025-01-30: HGEIC: Reported by committee with Do Not Pass but with a Do Pass recommendation on Committee Substitution (House)
- 2025-01-22: Sent to HGEIC - Referrals: HGEIC/HTRC (Senate)
- undated: Sent to HPREF - Referrals: HPREF (Senate)

## Bill text

- Final Version, 2025-03-20: [PDF](https://www.nmlegis.gov/Sessions/25%20Regular/final/HB0047.pdf)
- SJC Committee Report 3/11/25, 2025-03-11: [PDF](https://www.nmlegis.gov/Sessions/25%20Regular/bills/house/HB0047JU1.pdf)
- STBTC Committee Report 3/06/25, 2025-03-06: [PDF](https://www.nmlegis.gov/Sessions/25%20Regular/bills/house/HB0047CT1.pdf)
- HTRC Committee Report 2/12/25, 2025-02-12: [PDF](https://www.nmlegis.gov/Sessions/25%20Regular/bills/house/HB0047TR1.pdf)
- HTRC Committee Substitute 2/12/25, 2025-02-12: [PDF](https://www.nmlegis.gov/Sessions/25%20Regular/bills/house/HB0047TRS.pdf)
- HGEIC Committee Report 1/30/25, 2025-01-30: [PDF](https://www.nmlegis.gov/Sessions/25%20Regular/bills/house/HB0047GE1.pdf)
- HGEIC Committee Substitute 1/30/25, 2025-01-30: [PDF](https://www.nmlegis.gov/Sessions/25%20Regular/bills/house/HB0047GES.pdf)
- Introduced, 2025-01-06: [HTML](https://www.nmlegis.gov/Sessions/25%20Regular/bills/house/HB0047.html), [PDF](https://www.nmlegis.gov/Sessions/25%20Regular/bills/house/HB0047.pdf)

## Related bills

- HB 2: GENERAL APPROPRIATION ACT OF 2025 (signed)
- SB 45: COUNTY HEALTH CARE ASSISTANCE FUND USE (signed)
- SB 343: TEACHER SALARY RATES CHANGES (signed)
- SB 345: TEACHER & INSTRUCTIONAL SUPPORT LICENSURE (signed)
- SB 133: EDUCATIONAL RETIREES RETURNING TO WORK (signed)
- HB 157: NEW SCHOOL LICENSES (signed)

## Sources
- [Final Version (PDF)](https://www.nmlegis.gov/Sessions/25%20Regular/final/HB0047.pdf)
- [SJC Committee Report 3/11/25 (PDF)](https://www.nmlegis.gov/Sessions/25%20Regular/bills/house/HB0047JU1.pdf)
- [STBTC Committee Report 3/06/25 (PDF)](https://www.nmlegis.gov/Sessions/25%20Regular/bills/house/HB0047CT1.pdf)
- [HTRC Committee Report 2/12/25 (PDF)](https://www.nmlegis.gov/Sessions/25%20Regular/bills/house/HB0047TR1.pdf)
- [HTRC Committee Substitute 2/12/25 (PDF)](https://www.nmlegis.gov/Sessions/25%20Regular/bills/house/HB0047TRS.pdf)
- [HGEIC Committee Report 1/30/25 (PDF)](https://www.nmlegis.gov/Sessions/25%20Regular/bills/house/HB0047GE1.pdf)
- [HGEIC Committee Substitute 1/30/25 (PDF)](https://www.nmlegis.gov/Sessions/25%20Regular/bills/house/HB0047GES.pdf)
- [Introduced (HTML)](https://www.nmlegis.gov/Sessions/25%20Regular/bills/house/HB0047.html)
- [Introduced (PDF)](https://www.nmlegis.gov/Sessions/25%20Regular/bills/house/HB0047.pdf)

## Related
- [HB 2: GENERAL APPROPRIATION ACT OF 2025](https://policyrisk.com/state-bill/NM-HB2-2025)
- [SB 45: COUNTY HEALTH CARE ASSISTANCE FUND USE](https://policyrisk.com/state-bill/NM-SB45-2025)
- [SB 343: TEACHER SALARY RATES CHANGES](https://policyrisk.com/state-bill/NM-SB343-2025)
- [SB 345: TEACHER & INSTRUCTIONAL SUPPORT LICENSURE](https://policyrisk.com/state-bill/NM-SB345-2025)
- [SB 133: EDUCATIONAL RETIREES RETURNING TO WORK](https://policyrisk.com/state-bill/NM-SB133-2025)
- [HB 157: NEW SCHOOL LICENSES](https://policyrisk.com/state-bill/NM-HB157-2025)
- [New Mexico bills](https://policyrisk.com/states/new-mexico/bills)
- [New Mexico state hub](https://policyrisk.com/states/new-mexico)
- [All state legislation](https://policyrisk.com/state-bills)

Source: PRIA, https://policyrisk.com/state-bill/NM-HB47-2025 (as of 2026-10-16).