Property values in Sandoval County have seen a huge increase this year.
In particular, Rio Rancho business property owners have seen some of the highest increases in the county. Several property owners urged county commissioners at the April 24 meeting to do something about the high property values from the Assessor’s Office.
During the commission meeting’s public comment section, frustrated business owners expressed their concerns to the commissioners about their properties’ skyrocketing valuations.
“Based on the sample review we see anywhere between 30% to 600% increases,” Jerry Schalow, president and CEO of the Rio Rancho Regional Chamber of Commerce, said. “We looked at a number of different properties and this is everywhere from Guerrero Plaza (Rio Rancho) which saw a significant increase of 142% to $2.2 million to the subway in Cuba had a 93% increase of $753,000.”
In an interview with the Signpost following the meeting, Sandoval County Assessor Linda Gallegos said, “I don’t think there’s a question whether evaluations are correct, because we have enough information to defend our values.
The concern is the percentage of increase and the way that we can help ourselves in the future is to have legislation changed.”
According to the county website, the Sandoval County Assessor’s Office assesses property values for tax purposes and maintains records for all real (land and improvements) and business personal properties in the county. Property owners receive valuation notices by April 1 annually, which determine their tax obligations based on the assessed value, exemptions and applicable tax rates set by local agencies. Taxable value is calculated as one-third of the appraised value, adjusted for exemptions, and multiplied by the tax rate, with different rates for residential and nonresidential properties.
“We just analyzed the information that’s available to us to be able to do our valuations but the market itself is set by buyers and sellers, not our office, and nothing we do is arbitrary,” Gallegos said.
According to Gallegos, the distinction is between residential and commercial property assessments in the county, noting a 3% maximum cap for residential properties and access to sales disclosure for accurate assessments. However, for nonresidential properties like commercial and vacant land, there is no cap on assessed values and limited sales disclosure, leading to challenges in valuations.
“I think the main idea that you’re hearing through the public comments, wasn’t that our values were wrong. It was about the percentage of increase that went up,” Gallegos said. “That is not something that is within the control of the Assessor’s Office. In fact, I would go so far as to say that the state needs to make some changes to that. That is through the Legislature, which actually needs to amend state statutes to mandate the disclosure of the selling prices of nondisclosed nonresidential properties to ensure that our valuations can be as accurate as possible.”
The commissioners voiced their concerns during the meeting regarding the property valuation assessments affecting local businesses.
“Every one of us up here wants to help you. We want you to be successful, I want you to hire employees so they stay here in Rio Rancho. I’m very concerned about this,” Commissioner Jay Block said.
Vice Chairman Michael Meek, Commissioner Katherine Bruch and Commissioner Joshua Jones stated they wanted to hear from Gallegos to understand the situation.
Chairman David Heil encouraged business and property owners not to miss the deadline to submit protests but said the commission does not have authority over the assessor’s decisions.
According to the county website, only the state Department of Taxation and Revenue may direct the assessor’s activities.
“Our job is to make sure (the valuations are) current and correct,” Gallegos said.
After the notice of value goes out on April 1, individuals have 30 days to dispute the valuation. To file a dispute before the May 1 deadline, property owners can either visit the office in person or mail in their protest, which must be postmarked by the due date.
Property owners can apply for regular exemptions as well. There are head of household, veteran and value freeze exemptions.
The protest and exemption forms can be found at sandovalcountynm.gov/elected-officials/county-assessor/forms/.
The Sandoval County Assessor’s Office is open from 8 a.m. to 5 p.m. Monday to Friday at 1500 Idalia Road, Building D, Bernalillo, on the first floor.
The assessor can be contacted at 505-867-7562 or by email at lgallegos@sandovalcountynm.gov.
Other business
Commissioners also passed a series of resolutions for the county’s infrastructure development. They include:
- Funding to create a safety corridor on County Road 13 in Cuba. The engineers’ estimate for the planning and design came in at $243,609.16. The County’s 5% match would be $12,180.45 and $231,428.17 will be requested from NMDOT.
- Funding assistance for the phase 3 and 4 Bosque Road/Guadalupe Road improvements in Bernalillo. The engineers’ estimate came in at $2,337,390.27 and the county’s match would be $116,869.51.
- Funding for a total reconstruction of N474 in Ojo Encino, which is the main road for residents to get to the Ojo Encino clinic. The engineer’s estimate for plan and design totals $217,221.96, with the county’s 5% match amounting to $10,861.00. The county is seeking $206,360.96 from NMDOT to cover the remaining project costs.
The commission also approved an agreement between the county and an architecture firm for the relocation of the County Commission room to the ground level for the amount of $509,098.99. The relocation aims to improve accessibility and incorporate safety standards.
Get involved
The next county commission meeting is at 6 p.m. May 8 at the Administrative Building Commission Chambers, 1500 Idalia Road, Building D in Bernalillo.