Fillable 2020 Value Freeze English Application

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2020 Value Freeze English Application

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U.S.A. forms for Bernalillo County

BROWSE BERNALILLO COUNTY (NM) FORMS

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Page 1
Tanya R. Giddings
Assessor
501 Tijeras Ave NW
Albuquerque, NM 87102-3174
Phone: (505) 222-3700
Fax: (505) 222-3770
Bobby Espinosa
Deputy Assessor
Chief Information Officer
Michelle L. Aguilar
Deputy Assessor
Chief Administration Officer
E-mail: assessor@bernco.gov
BERNALILLO COUNTY ASSESSOR
Detailed Instructions – Bernalillo County 2020 Value Freeze
To qualify for the Value Freeze Program, the property owner must have had a Modified Gross Income in
2019 of $35,000 or less, and be either: 65 years-of-age or over; or disabled. If you believe you qualify
for the Value Freeze Program, please complete the Application and attach the following documents.
Applicants who are 65 years-of-age or older and had a modified gross income of $35,000 or less in
2019 must attach copies of the following no later than 30 days of the mailing of the Notice of Value:
1) NM ID or a NM Driver License that shows date of birth,
2) 2019 Social Security Benefit Statement (SSA-1099 form),
3) 2019 Supplemental Security Income Letter (SSI Letter),
4) 2019 Veteran Benefit Letter from the Department of Veterans Affairs,
5) 2019 IRS 1099 form for each item under Part II of the Value Freeze Application,
6) 2019 NM State Income Tax Return (PIT-RC Form – NM Rebate and Credit Schedule),
7) 2019 Federal 1040 U.S. Individual Tax Return
Applicants who are declared Disabled and had a modified gross income of $35,000 or less in 2019
must attach copies of the following no later than 30 days of the mailing of the Notice of Value:
1) i. Social Security disability: Date of entitlement letter stating the month/year when first
declared disabled under the Social Security Act.
i
i
. W
orkers’ Compensation disability: Award Letter with the date when disability was declared
under Worker Compensation Act.
2) 2019 Social Security Benefit Statement (SSA-1099 Form),
3) 2019 Supplemental Security Income Letter (SSI Letter),
4) 2019 Veteran Benefit Letter from the Department of Veterans Affairs,
5) 2019 IRS 1099 form for each item under Part II of the Value Freeze Application,
6) 2019 NM State Income Tax Return (PIT-RC Form – NM Rebate and Credit Schedule),
7) 2019 Federal 1040 U.S. Individual Tax Return
Pursuant to 7-36-21.3, NMSA, “The limitation on increase in value is for single-family dwellings occupied
by low-income owners 65 years-of-age or older, or Disabled”:
NM Income Tax Act (Section 7-2-2 L) “modified gross income,“ means all income of the taxpayer, and if
any, the taxpayer’s spouse and dependents, undiminished by losses and from whatever source derived.”
All income should be submitted with the application for the applicant, spouse, and dependents.
Manufactured home (MH) owners are not eligible unless the MH is on permanent foundation and
valued as real property on the Assessor’s property tax roll.
The Value Freeze is on the property valuation, NOT ON THE TAXES. Taxes are based on the Tax Rate
for the tax year.
If you have questions or need further information, please call and ask for the Value Freeze
Department at 222-3700.
Applications are accepted between January 1
st
through 30 days from the mailing of the Notice of Value
Page 2
STATE OF NEW MEXICO – 2020 TAX YEAR
ELIGIBILITY REQUIREMENTS:
GENERAL - This application is for the current tax year only and is based on the previous year’s income.
An owner who has claimed and been allowed the limitation of value for the three previous consecutive
tax years need not claim the limitation for subsequent tax years if there is no change in eligibility.
(1) AGE: The applicant must be age 65 years or older, or disabled during the year in which
the application is made.
The applicant should be prepared to provide evidence that he/she fulfills the age
requirement by presenting a photo ID showing his/her date of birth.
(2) OCCUPANCY: Applicant must be the owner and occupant of the property for which the
application is being submitted. The property listed on this application is eligible only if it is
the primary residence of the applicant and does not apply to other properties owned by
the applicant.
(a) The applicant must be able to provide certified copies of relevant documents.
(b) The property must be the primary residence of the applicant.
(3) DISABLED: Means a person who has been determined to be blind or permanently disabled with
medical improvements not expected pursuant to 42 USCA 421 for purposes of federal
Social Security Act [42 USC § 301 et seq.] or, is determined to have a permanent total
disability pursuant to the Workers’ Compensation Act [Chapter 52, Article 1 NMSA 1978].
IDENTIFICATION OF REAL PROPERTY: One of the following should be provided to the
assessor to identify the property for which the application is submitted.
(a) Physical address of the property
(b) Legal description
(c) Uniform Property Code (UPC)
(d) Other property tax identification numbers or codes
INCOME: The previous year’s “modified gross income” must be $35,000 or less
(below). New Mexico Income Tax Act (Section 7-2-2, L.) states “modified
gross income” means all income, undiminished by losses from whatever source
derived. This applies to the total combined income of the taxpayer and his/
her spouse and dependents.
The applicant shall submit copies of state and federal income tax forms for the
year prior to application or any other documents that will provide evidence to
the Assessor that the applicant fulfills the income requirements. Amended tax
returns should be reported to the Assessor within 30 days of the reporting to the
IRS or New Mexico Taxation & Revenue Department. Amended returns may
affect your eligibility.
CERTIFICATION BY PROPERTY OWNER: Must be signed by Applicant.
Part I
ASSESSOR’S OFFICE USE – VALUATION LIMITATION
7-36-21.3. Limitation on increase in value for single-family dwellings occupied by low-income owners who are sixty-five years of age or older or
disabled; requirements; penalties.
A. The valuation for property taxation purposes of a single-family dwelling owned and occupied by a person who is sixty-five years of age or older
or disabled and whose modified gross income for the prior taxable year did not exceed the greater of thirty-five thousand dollars ($35,000) or
the amount calculated pursuant to Subsection F of this section shall not be greater than the valuation of the property for property taxation
purposes in the:
(1) tax year in which the owner’s sixty-fifth birthday occurs, if the owner owns and occupies that property; or
(2) tax year following the tax year in which an owner who is sixty-five years of age or older first owns and occupies the property.
**If NOT Qualified: Upon determination that the applicant does not qualify, the Assessor will immediately notify the applicant in
written form.
Part II
Part III
Page 3
STATE OF NEW MEXICO – 2020 TAX YEAR
Application Form
Revised 11/2019
APPLI CATIO N
LIMITATION ON INCREASE IN VALUE FOR
SINGLE-FAMILY DWELLINGS OCCUPIED BY
LOW-INCOME OWNERS:
65-YEARS-OF-AGE OR OLDER;
OR DISABLED
Pursuant to 7-36-21.3
NMSA 2000
as Amended in 2019
PLEASE READ INSTRUCTIONS CAREFULLY
County Name
County Assessor’s Phone Number
Tax Year
BERNALILLO COUNTY
(505) 222-3700
Applicant’s First Name
Last Name
Present Mailing Address (Number & Street, PO Box or Rural Route)
City, State, Zip Code
Phone Number
( )
Driver’s License or Personal ID Certificate (Number & State)
Date of Birth
Part I
Uniform Property Code (UPC #):
Physical Address:
Legal Description of Property:
YES
NO
YES NO
YES
NO
A. Is the property the applicant’s primary residence?
B. Is the property occupied by the applicant and is he or she the current
owner?
C. Will the applicant be age 65 or over during the current tax year?
D. Is the applicant disabled?
YES
NO
Continued on Next Page
Does Not Qualify
Qualifies
Notice of Value.
FOR ASSESSOR’S OFFICE USE ONLY
VALUATION LIMITATION (To be completed by the County Assessor)
The records of BERNALILLO County indicate the property value is
$
Valuation Limitation Determined by:
Date:
UPC Ownership matches App:
Y
N
HOFX:
Y
N
VETX:
Y
N
VETW:
Y
N
LUC:
Attached documents:
ID
Income
SS
WC
POD
Last App Year:
as of Tax Year
Page 4
Part II
Enter “Modified Gross Income”, all income received by the applicant,
applicant’s spouse and dependents.
Please see section 7-2-2(L) of the Income Tax Act.
(Round to the nearest whole dollar)
Gross Annual Income
1.
Compensation
1.
.00
2.
Net profit derived from business
2.
.00
3.
Gains derived from dealings in property
3.
.00
4.
Interest
4.
.00
5.
Net Rents
5.
.00
6
Royalties
6.
.00
7.
Dividends
7.
.00
8.
Alimony and separate maintenance payments
8.
.00
9.
Annuities
9.
.00
10.
Income from life insurance and endowment contracts
10.
.00
11.
Pensions
11.
.00
12.
Discharge of Indebtedness
12.
.00
13.
Distributive share of partnership
13.
.00
14.
Income in respect of a decedent
14.
.00
15.
Income from an interest in an estate or trust
15.
.00
16.
Social Security benefits
16.
.00
17.
Unemployment compensation
17.
.00
18.
Workers’ Compensation benefits
18.
.00
19.
Public assistance and welfare benefits
19.
.00
20.
Cost-of-living allowances
20.
.00
21.
Gifts
21.
.00
Total Modified Gross Income (Add lines 1 thru 21)
.00
Part III
CERTIFICATION BY PROPERTY OWNER – (To be signed by Applicant)
I certify that I am the legal owner of this property, I am living on this property and the
income, age or disability statements made are true and accurate. I understand that
false statements made intentionally on this application may be penalized as provided
for in 7-38-92 and 7-38-93 of the Property Tax Code.
Amended income tax returns shall be reported within 30 days of filing.
Applicant Signature:
Date:
$ 0
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2020 Value Freeze English Application

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Completed 11 July 2020

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