SANTA FE — Gov. Michelle Lujan Grisham signed two bills that will provide significant tax relief and recreational opportunities for New Mexico veterans March 20.
The legislation, which expands property tax exemptions and provides free access to state parks, represents New Mexico’s commitment to supporting those who have served the U.S.
“Today marks an important step forward in how we honor and support our veterans in New Mexico,” Lujan Grisham said. “Our veterans deserve meaningful support for their service and sacrifice, and I’m proud to sign legislation that provides tangible benefits to them and their families.”
House Bill 47 implements constitutional amendments approved by voters in the 2024 general election that will significantly increase property tax exemptions for veterans beginning in 2026. The legislation will raise the standard veteran property tax exemption from $4,000 to $10,000, with adjustments for inflation in subsequent years. It also establishes a proportional property tax exemption for disabled veterans that matches their federal disability rating, rather than requiring a 100% disability rating for exemption eligibility.
HB 161 provides veterans residing in New Mexico with free access to state parks, including unlimited day-use passes and camping passes for areas operated by the State Parks Division of the Energy, Minerals and Natural Resources Department.
“These new laws represent our state’s deep appreciation for the service of our veterans,” Sec. Jamison Herrera, Brigadier General (retired), of the Department of Veterans Services, said. “The property tax relief will provide meaningful financial support to veterans and their families, while access to our state parks offers opportunities for recreation and healing in New Mexico’s beautiful outdoor spaces.”
Both bills received strong bipartisan support in the legislature, reflecting a shared commitment to supporting New Mexico’s veterans.
The property tax exemption changes will take effect for the 2026 tax year, while the state park access provisions take effect July 1.
