Several communities have implemented a “vacant property tax”. In what appears to be a similar objective, Bernalillo County (NM) Assessor is taking a new approach “revaluing properties, not based on how their characteristics at that moment in time but based on their potential”.

Under New Mexico state law, residential property by can only be raised by 3%. However, if a property is non-residential, vacant, or isn’t producing income, “there is no limit to how much the value can be raised”.

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