Return to News Home page

VILLAGE OF TAOS SKI VALLEY

AD VALOREM TAX SUMMARY

•         Taxable Valuation summary (equals one-third of full market value):

                     Residential =           $27,341,582

                     Non Residential =    $12,486,807

•          Mil levy:       

                     Residential =                      15.558 mils

                                Taos Ski Valley =     2.536 mils

                                Taos County =         5.042 mils

                     Non Residential =              22.373 mils

                                Taos Ski Valley =     4.000 mils

                                Taos County =        10.498 mils

•         2001 State Legislature placed a limitation on the valuation of residential property. Can’t be reassessed more than 3% per year.

•         Exceptions to the 3% cap (and assessed at full market value):

          •         Construction of new homes

          •         Any house that is sold

          •         Any property that has undergone a major renovation

          •         Any property that has a zoning change

•         Reported to Taos County in 2006 for Village of Taos Ski Valley:

                     45 condos and 1 new home

•         Non Residential (Commercial, condos, rental houses, vacant land) can be reassessed at full market value - no cap.

•         Definition of Residential: any non-transient property

•         Each property owner will have a property record for each parcel of land owned by him/her. The property record has a card which contains a sketch of any improvements located on the land. The improvement may be a home, commercial building or any type of dwelling. Sketches grade building materials on a scale of 1 to 5 with 1 being the worst material and 5 being the most elaborate.

•         State statute allows the County to go back 10 years to collect taxes if a property is found to have incorrect data. The number of previous years that the County and Village agree upon to collect back taxes will be decided by government officials.

•         Starting at about March 7, 2007, the Assessor’s office will begin a reassessment of every property in Taos County. They hope to complete this by the end of 2009.