New Mexico SB149: PROPERTY TAX CODE DEFINITIONS

What the bill says

An act relating to taxation; amending the definition of "residential property" in the property tax code.

From the introduced text, January 26, 2026:

AN ACT RELATING TO TAXATION; AMENDING THE DEFINITION OF "RESIDENTIAL PROPERTY" IN THE PROPERTY TAX CODE. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: SECTION 1. Section 7-35-2 NMSA 1978 (being Laws 1973, Chapter 258, Section 2, as amended) is amended to read: "7-35-2. DEFINITIONS.--As used in the Property Tax Code: A. "abandoned real property" means real property: (1) that is part of a subdivision where the subdivision has a minimum of five thousand lots in delinquency on the department's delinquent property tax list as prepared by the appropriate county treasurer pursuant to Section 7-38-61 NMSA 1978 as of January 1, 2019; (2) of which the subdivided lots are vacant; (3) that is part of a subdivision plotted on .233152.1 wen = lairetam derocsrednu eteled = ]lairetam detekcarb[ or before 1980; (4) the property taxes, penalties and interest of which are delinquent for at least ten years; and (5) that does not include property with existing homes, businesses or other habitable structures; B. "department" or "division" means the taxation and revenue department, the secretary of taxation and revenue or any employee of the department exercising authority lawfully delegated to that employee by the secretary; C. "director" means the secretary; D. "livestock" means cattle, buffalo, horses, mules, sheep, goats, swine, ratites and other domestic animals useful to …

Read the full official text

Sponsors

• Jay C. Block (R, SD-012) · primary sponsor
• Harlan Vincent (R, HD-056)

Latest actions

1. February 11, 2026: SCC: Reported by committee to fall within the purview of a 30 day session
2. January 26, 2026: Sent to SCC - Referrals: SCC/SJC/STBTC
3. : Action Postponed Indefinitely

Common questions

What is SB149?

SB149 is a bill in the New Mexico Legislature (2026 Regular Session): PROPERTY TAX CODE DEFINITIONS.

What does SB149 do?

In its own words: An act relating to taxation; amending the definition of "residential property" in the property tax code.

What is the status of SB149?

In committee as of February 11, 2026. Latest action: SCC: Reported by committee to fall within the purview of a 30 day session (February 11, 2026).

Who sponsored SB149?

Jay C. Block (R, SD-012), with 1 co-sponsor.

Where is the official record for SB149?

On the New Mexico Legislature website: https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legType=B&legNo=149&year=26