BERNALILLO COUNTY, N.M. (KRQE) – Some Bernalillo County property owners could be in for sticker shock when they get their tax bills this year. This, as the county assessor catches up on years of uncompleted property assessments.
“On average, we had about a 76% increase in the values of our commercial properties,” says the owner of Alien Sigman Real Estate Group, Lance Sigman. He is one of the many commercial property owners who have seen an increase in the value of their properties, and high values can mean higher taxes.
“There’s a trickle-down effect that’s not just property taxes, but all these other costs that I’ve mentioned, they all build up. They all multiply to then impact the small business, which in turn impacts the consumer,” says Sigman.
Increases to some taxes and fees in New Mexico go into effect on July 1
These higher property values come as counties in New Mexico kick up efforts to evaluate all properties accurately. “We’re doing a better job than was previously done before,” says Bernalillo County assessor Damian Lara…