Bernalillo County officials are looking to help property owners who want to keep their homes and businesses in tip-top shape.
The county assessor’s program, Cost to Cure, is designed to offset expenses related to bringing a property up to its best condition. Property owners are eligible for a one-time reduction to the listed fair market value of their property.According to the program’s website, that could mean paying hundreds of dollars less in property taxes.
“Cost to Cure is a powerful incentive for investment and to revitalize property and our community,” County Assessor Damian Lara said. “There’s no minimum or maximum that can be claimed and it covers any defect and deficiency.”
Eligible costs include materials such as lumber, nails and refinishing supplies, as well as professional services such as plumbing and electrical work.
“We want to revitalize Bernalillo County and have our community looking its best,” Lara said. “Cost to Cure is a great way to help pay for the work.”
Property owners will need to provide receipts for any restoration or improvement projects they have completed. Valuation reductions will be reflected on the county-issued Notice of Value for each property, which will be mailed to property owners in April.
The same improvements cannot be claimed more than once in a year or in successive years.
Assessor’s Office Spokesperson Tom Thorpe said while the program is new, property owners have for years presented cost-to-cure reports to staff, mostly while protesting their assessed valuation.
A full description of the program, examples of potential savings and a printable application are available here.
More information is also available from A.C.E., the Assessor’s online chatbot at bernco.gov/assessor. Those wishing to speak with a customer service representative may call 505-222-3700.