Tax Lightening Fixed?

It's been a tough few years for folks who've purchased new homes in the Albuquerque Metro area since around 2004 due to the change in the states property tax laws that occurred in 2001. As many of you know all too well, the law change allowed counties to adjust values to "current" upon a change of ownership, as opposed to the previous law which capped the annual increase at 3%. As a result, thousands of homeowners were hit with huge property tax increases, sometimes as much as double or even triple.

Well, most assuredly due to the recent court cases in which two separate judges ruled the current property tax law violates the state constitution, Bernalillo County Assessor Karen Montoya has said she is going to roll back property values to the 2002 values. However, this will not take affect until the 2010 tax year, meaning many folks will continue to be overcharged for property taxes for the 2009 tax year.

As a result, there seems to be some momentum building for at least a couple of class action lawsuits, in which the plaintiffs and their attorneys are asking that they be repaid for hundreds and sometimes thousands of dollars that have been overcharged. Apparently, Montoya has commented that she feels the "system is inequitable" and that the issue needs to be addressed by the state. Therefore, there is some question as to whether Montoya and the assessors office will contest the lawsuits.

If you've been affected by tax lightening, and would like to inquire as to how you might recover some money, you can contact the attorneys office of Clinton Marrs and Stephanie Dzur.