A. Every person who, by the terms and provisions of Section 7-37-5 NMSA 1978, is entitled to a veteran exemption and who does not have sufficient real or personal property to claim the full exemption under that section may be eligible to pay motor vehicle registration fees at two-thirds the rates charged on vehicles which the veteran owns. The person claiming a reduced motor vehicle registration fee shall make an affidavit that in any claim of a veteran exemption thereafter during such year, he will set forth the amount of reductions so received which shall reduce the amount of benefits received from the real or personal property tax exemption to that extent. No person shall receive any reductions of registration fees in a greater sum during any one year than an amount equal to the property tax imposed on two thousand dollars ($2,000) of net taxable value of property in the school district in which he resides.
B. The director shall certify to the proper county assessor the amount of reduction received under the provisions of this section by any person, and the assessor shall note the reduction on his valuation records.
History: 1953 Comp., § 64-6-7, enacted by Laws 1978, ch. 35, § 342; 1983, ch. 331, § 1.
Cross references. — For definition of "director", see 66-1-4.4 NMSA 1978.
When veteran received exemption. — The only time a veteran was entitled to receive the benefits of Section 64-11-1.7, 1953 Comp. (similar to this section prior to 1983 amendment), was when he had not claimed his exemption on his real or personal property for the current year. 1964 Op. Att'y Gen. No. 64-107.
Effect of exemption on property tax. — If a veteran claimed his reduced motor vehicle registration fee, prior to claiming his exemption on real or personal property, he might have the tax liability for his real or personal property reduced by an amount equal to the difference between the amount of benefits he received as a result of his one-third tax exemption on motor vehicle registration fees and the amount of benefits he would have received if he had first claimed his $2000 exemption on his real or personal property. 1964 Op. Att'y Gen. No. 64-107.
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