- In New Mexico, you may choose to either use the Federal Supplemental Exemptions in addition to the state exemptions, or substitute the Federal Exemptions entirely.
Homestead Exemption
- Real property up to $30,000, or up to $60,000 for joint owners.
Insurance Exemption
- Life, accident or health benefits (cash value or withdrawal) if beneficiary is a New Mexico citizen
- Fraternal benefit society benefits
- Benevolent association benefits up to $5,000
Pensions for public school employees and pension or retirement benefits. Aid for the blind, aged or occupationally disabled and AFDC. Unemployment compensation. Worker’s compensation.
Personal Property
- Books, furniture and health needs
- Clothing
- Jewelry up to $2,500
- Automobile or truck to $4,000
- Building materials
- Cooperative shares up to amount needed to retain membership
- Materials and machinery to dig, drill, or repair oil lines, gas wells, or pipelines
- $500 in additional personal property
- $2,000 in any personal property if no homestead exemption is used
