New Mexico State Affordable Housing Tax Credits  

Santa Fe Habitat for Humanity has been awarded charitable state tax credits equal to 50% of the value of donations for affordable housing projects approved by the New Mexico Mortgage Finance Authority.  With New Mexico State Tax Credits, you will receive 50% of your donation back in the form of a tax credit from the State of New Mexico.  This tax credit can be used with personal and corporate income taxes, sales tax, gross receipts tax and/or other state tax debt for 2023.   

 Here’s How It Works 

Santa Fe Habitat for Humanity requires a minimum donation of $500 or more to be eligible for the 2023 tax credit program.  You will receive a tax credit voucher equal to 50% of your total donation(s) for the year. This tax credit will directly reduce your New Mexico tax debt.  You may also choose to carry over the tax credits for up to 5 years or transfer them (one time only) to someone else.  In addition to the New Mexico tax credits, you may be able to claim a charitable deduction on your federal tax return for the full contribution amount. 

How to get your Tax Credits

1. First make a minimum donation of $500 to Santa Fe Habitat via mailed check, on our website: habitat.mindshare.dev, come in person and pay by check or with credit card, or contact the Development office at 505-986-5880 Ext.105.
2. Once the donation is received, a thank you letter, and instructions of where to sign the two-page voucher is mailed or given to the donor to sign.  The voucher also needs to be notarized (Notary services available at Santa Fe Habitat).
3. The voucher is then mailed to Mortgage Finance Authority in Albuquerque. The voucher is processed with specific codes that are written on the voucher. The voucher is then mailed directly to the donor. There is an additional form that the donor or tax prepare- person needs to download and complete. (Form RPD-41301).

 2022 Tax Credits

Affordable Housing Tax Credits for 2023 processing takes up to one to two months.  Please submit 2023 vouchers to Santa Fe Habitat by February 10, 2024. It’s best to apply early to process them this tax year.  Otherwise, the credits may need to be processed in another year.  The credits can carry over for up to 5 years.

For more information contact:

Marilyn Perryman, Director of Development & Marketing

marilyn@santafehabitat.org

505-986-5880 Ext. 105