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Tax Rebate: Will your state be sending $500 rebates?

Residents in the state of New Mexico may be surprised to see that a bill was recently passed that would give them a $500 tax rebate soon.

cash and check from a tax rebate in new mexico

New Mexicans can expect the $500 in two payments over the next few months.

The bill is a response to inflated gas prices.

In New Mexico the average price per gallon is $4.14, which is $1.29 higher than one year ago according to AAA.

How to claim the $500 New Mexico tax rebate

The decision was made last Tuesday to send the money to taxpayers.

$677 million dollars in total will be given back over the next t wo years.

Filing your tax return for 2021 will get you $500 as a single filer or $1,000 as joint filers.

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The first payment will go out in May or June, followed by a second payment in Sept.

If you’ve provided your bank information it will be direct deposited.

Those who did not provide banking information can see their payment mailed by check.

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