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New Mexico commercial real estate officials, assessors eye working group after tax cap fails to advance

March 2, 2026

Journal Staff Writer

Many pieces of legislation crossed the finish line during this year’s legislative session, from medical malpractice reform to tax breaks for affordable housing projects. Yet, despite strong backing from NAIOP New Mexico and much of the commercial real estate community, legislation that would have capped nonresidential, or commercial, property tax evaluation increases at 5% per year never made it out of the gate.