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New Mexico is offering one-time rebates to its residents, with payments ranging from $500 to $1,000, to alleviate financial burdens due to the high cost of basic necessities across the country.
New Mexico has announced it will provide rebates totaling more than $673 million to its residents.
Rebate Details
New Mexico has announced it will provide rebates totaling more than $673 million to its residents. The rebates will be sent automatically to eligible residents based on their previous tax filings, with no need to apply. The payments will be either $500 or $1,000, based on the resident’s filing status.
Those who met the requirements and submitted a 2021 New Mexico personal income tax return without claiming any dependents will receive the reimbursement. Those who opted for direct deposit will receive the rebate through that method, while others will receive paper checks by mail.
The rebates are scheduled to begin going out in mid-June. If a resident didn’t file a personal tax return in 2021, they have until May 31, 2024, to file a return and claim their rebate, as reported by The US Sun.
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Reasons for Rebates
New Mexico Governor Michelle Lujan Grisham stated that the rebates are necessary to help residents deal with high prices for essential goods across the nation. The governor said the payments are an attempt to share the state’s success with its citizens.
Last year, New Mexico provided $250 to all residents earning less than $75,000 and married couples earning less than $150,000. The current rebate is similar and aims to ease financial difficulties faced by New Mexico families. The governor hopes the rebates will provide some relief to residents grappling with the high cost of living.
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