What is a notice of value?

A Notice of Value is a document sent out by the Department of Taxation and Revenue of New Mexico which states how much a property owner has to pay in property taxes. This document is sent out to all property owners in the state of New Mexico each year. The Notice of Value is based off of the appraised value of the property determined by the county assessor. The notice will also include any exemptions that could be applied to the property, any late payment penalties, and the total amount of taxes due. The Notice of Value is an important document because it lets the property owner know how much they owe in taxes. Knowing the total amount due can help with budgeting and payment planning. It is important to read and understand the Notice of Value in order to make sure the taxes are paid correctly and on time. Failure to do so could result in late payment penalties or other fees. It is the responsibility of the property owner to make sure the taxes are paid in full and on time.

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What is a notice of value?

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