Tag: Affordable housing

A proposed New Mexico tax bill that would exempt affordable housing developments from gross receipts taxes could unlock millions in savings for builders and expand the supply of lower-cost rentals in high-cost markets such as Santa Fe. The measure, introduced ahead of the 2026 legislative session, highlights how state tax policy can influence construction costs, housing supply, and monthly rent burdens for low- and moderate-income households.

The New Mexico Supreme Court has allowed Santa Fe’s 3 percent “mansion tax” on luxury home sales to remain in effect, upholding a lower court decision and clearing a major legal hurdle. The levy, approved by voters in 2023, aims to fund affordable housing, though critics worry it could affect high-end property transactions.