| Implementing Sector: | State |
| Category: | Financial Incentive |
| State: | New Mexico |
| Incentive Type: | Property Tax Incentive |
| Administrator: | New Mexico Energy, Minerals and Natural Resources Department |
| Start Date: | 01/01/2010 |
| Eligible Renewable/Other Technologies: | Solar Water Heat, Solar Space Heat, Solar Photovoltaics |
| Name: | N.M. Stat. § 7-36-21.2 |
| Date Enacted: | 3/3/2010 |
| Effective Date: | 1/1/2010 |
Residential solar energy systems are exempted from property tax assessments in New Mexico in most circumstances. For the purposes of determining property taxes, the value of a property cannot increase by the greater of 3% of the previous year's assessment or 6.1% of the assessment from two years ago according to state law. An assessment may exceed these restrictions, however, if physical improvements are made to the property. Under H.B. 233, enacted in 2010, residential solar systems will not be treated as physical improvements and therefore will not increase the value of the property for property tax purposes. Future assessments, however, can include the value of a solar energy system if the property is sold.
A solar energy system is defined as a system that provides space heat, water heat, or electricity to the property. The term specifically does not include windows, dark-colored water tanks, or non-vented trombe walls.
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Welcome to the Solar QC Website. This site equips homeowners with information regarding the most effective solar products and provides access to expert solar installers and manufacturers. The information listed in the Terms & Conditions provides a list of the services provided by solarqcgroup.com with specific user obligations in reference to content, conduct, company disclaimers, copyright, and privacy. The Terms & Conditions described are designed to protect the users and solarqcgroup.com. By accessing this website, the user automatically agrees with the content of the Terms & Conditions.
A solar PV system is custom-designed for your home. Final solar system price may vary based on your location, monthly utility bill, government incentives and rebates, the condition of your home, and local installation prices. Solar PV system output and estimated savings are calculated based on several factors including product type, system production, geography, weather, shade, electricity use, full utilization of the 30% solar investment tax credit, and utility rate structures and rate increases. Savings on your total electricity costs are not guaranteed. Financing options and terms vary by location, and may not be available in all areas. Solar QC is neither the lender nor the project installer. Solar QC License# 1130591
