New Mexico Politicians may tax STR properties as commercial

[Randy Dubiskas]

I was on a zoom call with Carl Vidal, an Albuquerque realtor and STR management firm owner about this idea that has been floated. The idea is that counties will identify a residential property as a short term rental and change the status to commercial and remove any residential caps on property tax. As told by Carl, it seems to be an idea by a group of county assessors, but not necessarily state-wide. It seems that no legislation is needed to implement this? The largest county (population) is Bernalillo - this is where Albuquerque is located. Have others seen changes like this in different areas?

[Russell Brazil]

The property is being used for commercial purposes, so I guess that makes sense.