Are there any disability-specific exemptions from taxation?

In New Mexico, there are specific exemptions from taxation related to disabilities. The Disabled Persons Property Tax Exemption is available for disabled individuals who are receiving Supplemental Security Income (SSI), Social Security Disability Insurance (SSDI), or Veteran’s Disability benefits. This exemption offers a full exemption from property taxes for disabled individuals who own the property they live in. To qualify for this exemption, a disabled individual must meet certain income requirements. Additionally, the property must have a value of less than $150,000, and the disabled individual must use the property as their primary residence. Additionally, certain medical expenses related to disabilities may be tax deductible in New Mexico. People with disabilities may be able to deduct medical expenses that are greater than 7.5% of their adjusted gross income. This deduction is available to individuals with disabilities, and it may help cover costs such as prescription medications, medical equipment, visits to doctors and therapists, and transportation costs to medical appointments. Finally, New Mexico offers a special deduction for an adult whose income is affected by disability. In this case, the disabled adult may deduct up to $3,000 per year from their taxes. In order to qualify, the adult must be disabled and the disability must affect their ability to work. Overall, New Mexico offers several disability-specific exemptions from taxation that may help people with disabilities cover costs associated with their disability. These exemptions can help disabled individuals save money and may help to make their lives a little easier.

Are there any disability-specific exemptions from taxation?

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