The New Mexico Taxation & Revenue Department is urging residents to check if they have any unclaimed property held by the state. With $390 million in abandoned assets currently available, individuals can claim their property easily and without cost. The department has already processed 6,414 claims this year, totaling $18.5 million.
"The Taxation and Revenue Department wants to reunite owners with their lost property," said Secretary Stephanie Schardin Clarke. She emphasized that the holiday season can be financially challenging, making it an ideal time to seek out unclaimed assets.
Unclaimed property often results from life changes such as moving or changing jobs and includes items like money, uncashed checks, safe deposit box contents, credit balances, security deposits, and securities. Residents can search for their unclaimed property by visiting nmclaims.unclaimedproperty.com.
For single-owner properties valued at $500 or less, claimants can submit their information online securely. For more complex claims involving multiple owners or higher values, a PDF form must be completed and submitted with supporting documentation.
Processing times for claims vary; however, the department has up to 90 days to approve or deny a claim after filing and an additional 30 days for payment.
More information about claiming unclaimed property is available on the department's YouTube channel or website. Inquiries can also be sent via email to unclaimed.property@tax.nm.gov.
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