The Affordable Housing Valuation form is the document the Bernalillo County Assessor uses to verify the affordable housing adjustment to the value of a residential property. It is one of the Bernalillo County property tax forms, and it must be completed with an attached Statement of Adjusted Value. Owners of affordable residential housing, or their authorized agents, complete it and submit it to the county assessor. On this page you can fill out the form online on FillingPDF and download or print the completed PDF; the original PDF is published by the Bernalillo County Assessor.
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What is Affordable Housing Valuation form – Bernalillo County, NM?
The Affordable Housing Valuation form is the Bernalillo County Assessor form that owners of affordable residential housing complete and submit to the county assessor so the office can verify the affordable housing adjustment to the value of their property.
The form states its purpose: property subject to the Property Tax Act is valued at the market price, less any decrease in value the owner would realize in a sale because of an affordable housing subsidy, covenant or encumbrance. The subsidy, covenant or encumbrance must be imposed by a federal, state or local affordable housing program and must restrict the future use of the property.
The form has two parts. The first collects the owner's and the property's details, lists the documents that Section 7-36-15 NMSA requires, and carries the property owner's certification and signature. The second is the Statement of Adjusted Value, which you must complete and attach: it starts from the initial market value (sales price), lists each subsidy, covenant or encumbrance with its program, term and amount, and subtracts their total to reach the adjusted value.
The bottom of the form has a block where the county assessor signs to confirm that the value qualifies to be adjusted under Section 7-36-15(B)(2) NMSA 1978. That block is for the Assessor's office, not the owner.
Who needs to file Affordable Housing Valuation form – Bernalillo County, NM?
Owners of affordable residential housing complete this form. The form says they must submit it to the county assessor for verification of the affordable housing adjustment. It applies where a federal, state or local affordable housing program has imposed a subsidy, covenant or encumbrance that restricts the future use of the property.
An authorized agent of the legal owner may complete the Statement of Adjusted Value and the certification instead. The certification covers two cases: you are the legal owner and you live on the property, or you are the authorized agent of the legal owner.
If someone helped you fill out the form, the form has a section for the person assisting: name, phone number, email and organization.
The form does not describe the adjustment for property that has no affordable housing subsidy, covenant or encumbrance, so it is not meant for owners without one.
When to file Affordable Housing Valuation form – Bernalillo County, NM
The form prints no separate due date. You complete it when you are seeking the affordable housing adjustment for a property tax year, and the dates it uses are tied to that year. The written statement from the affordable housing program must show the remaining balance as of the first day of the applicable property tax year, and the subsidies, covenants or encumbrances on the Statement of Adjusted Value are listed as of January 1. Your ownership interest in the certification is also stated as of January 1. To confirm the deadline for the year you are applying for, call the Bernalillo County Assessor at (505) 222-3700.
Documents you need
- A copy of each document that establishes the type, amount and term of each affordable housing subsidy, covenant or encumbrance imposed by a federal, state or local affordable housing program.
- Instead of those documents, a copy of your purchase agreement for the residential housing and the real estate closing statement for it.
- A written statement from the affordable housing program identifying the subsidy, covenant or encumbrance and the remaining interest the program holds as of the first day of the applicable property tax year.
- The Statement of Adjusted Value, completed by the property owner or the owner's authorized agent.
How to fill out Affordable Housing Valuation form – Bernalillo County, NM
Enter county and closing date
The County and Phone fields are pre-printed for the Bernalillo County Assessor. Enter the Closing Date in the field provided.
Enter the property owner's name
Fill in Property Owner's First Name, Middle Initial and Last Name.
Enter the owner's mailing contact details
Give the Present Owner's Mailing Address (number and street, PO Box or Rural Route), City & State, Zip Code, Phone Number and Email.
Enter the property address and account
Write the Physical Address of the property and its Assessor Account #.
Gather the required documents
Collect the subsidy, covenant or encumbrance documents or your purchase agreement and closing statement, plus the program's written statement of the remaining interest, as listed on the form.
Complete the Statement of Adjusted Value
On line 1, enter the Initial Market Value (Sales Price). On line 2, list each subsidy, covenant or encumbrance as of Jan. 1 with its Type, Name of Affordable Housing Program, Term and Amount.
Total and compute adjusted value
Enter the total of subsidies, covenants, encumbrances and exemptions on line 3. On line 4, subtract line 3 from line 1 to get the Adjusted Value.
Enter your ownership interest
In the certification, enter your ownership interest as of January 1 in the dollar blank. The form says it is computed on line 5 of the Statement of Adjusted Value, whose printed lines end at line 4, so confirm the figure with the Assessor's office.
Complete the assistance block
If someone helped you, fill in PERSON ASSISTING, PHONE NUMBER, EMAIL and ORGANIZATION. Skip it if no one assisted.
Review, sign and download the PDF
The property owner or authorized agent signs and dates the certification. Leave the county assessor's signature block blank, then download or print the completed PDF from FillingPDF and assemble the package described under How to submit.
How to submit Affordable Housing Valuation form – Bernalillo County, NM
The form says to submit it to the county assessor. It names no mailing address, portal or email for submission, so confirm the channel with the office.
- In person: Office of the County Assessor, 415 Silver Ave. SW, 3rd Floor, Albuquerque, New Mexico 87102. The Assessor's page lists hours of Monday to Friday, 8 a.m. to 5 p.m.
- Phone: (505) 222-3700.
- Fax: (505) 222-3771.
- Email: [email protected].
Submit the signed form with the attached Statement of Adjusted Value and the documents required under Section 7-36-15 NMSA. The county assessor may waive those documents if the assessor independently verifies the type, amount and term of each subsidy, covenant or encumbrance. FillingPDF lets you fill out and download the PDF; submission follows the Assessor's channels above.
Common mistakes to avoid
- Submitting the form without the completed Statement of Adjusted Value; the form says you must complete and attach it.
- Leaving out the written statement from the affordable housing program showing the remaining interest as of the first day of the applicable property tax year.
- Attaching neither the subsidy documents nor the purchase agreement and real estate closing statement, unless the Assessor has waived the required documents.
- Signing the certification when you are neither the legal owner living on the property nor the authorized agent of the legal owner.
- Listing subsidies, covenants or encumbrances as of a date other than Jan. 1 on line 2 of the Statement of Adjusted Value.
- Miscalculating the adjusted value: line 4 is line 3 subtracted from line 1.
- Writing the ownership interest in the certification without matching it to the Statement of Adjusted Value; the form says it is computed there.
- Filling in the county assessor's signature block, which is for the Assessor's office.
- Giving false documents or statements intentionally; the form says this may be penalized under Sections 7-38-92 and 7-38-93 of the Property Tax Code.
Frequently asked questions
What is the Affordable Housing Valuation form?
It is a Bernalillo County Assessor form that owners of affordable residential housing complete so the assessor can verify the affordable housing adjustment. The property is valued at market price less the decrease in value caused by an affordable housing subsidy, covenant or encumbrance.
Who has to complete the Affordable Housing Valuation form?
Owners of affordable residential housing, per the form, or their authorized agents. The certification covers a legal owner who lives on the property or the authorized agent of the legal owner.
What documents do I attach to the Affordable Housing Valuation form?
Attach documents showing the type, amount and term of each subsidy, covenant or encumbrance, or your purchase agreement and closing statement. Add the program's written statement of the remaining interest and the Statement of Adjusted Value. The Assessor may waive the required documents.
Can the Assessor waive the required documents?
Yes. The form says a county assessor may waive them if the assessor independently verifies the type, amount and term of each subsidy, covenant or encumbrance, including by examining county clerk records, citing NMAC §3.6.5.41(C).
How do I calculate the adjusted value on the Statement of Adjusted Value?
Enter the initial market value (sales price) on line 1 and list each subsidy, covenant or encumbrance on line 2. Put their total on line 3, then subtract line 3 from line 1 to get the adjusted value on line 4.
Where do I submit the Affordable Housing Valuation form?
The form says to submit it to the county assessor. The Assessor's office is at 415 Silver Ave. SW, 3rd Floor, Albuquerque, NM 87102, open Monday to Friday, 8 a.m. to 5 p.m. Call (505) 222-3700 to confirm how to submit.
Can I fill out the Affordable Housing Valuation form online?
Yes. You can fill out the PDF online on FillingPDF and download or print it. FillingPDF is an independent service, not affiliated with the Bernalillo County Assessor, and does not file the form; you submit it through the Assessor's channels.
What happens if I give false information on the form?
The certification says that intentionally providing false documents or statements may be penalized under Sections 7-38-92 and 7-38-93 of the Property Tax Code.
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