OK, although the change in property ID is interesting (and I too found the same 2010 info on this property), it is unclear WHY. Do you have the statute or regulation in your down indicating that they will ONLY make new ID is split? Because it could be that a change in parameter, as here, would suffice. It really IS a different lot. I'd almost think that may be so. But that doesn't mean this increase is valid! Changes to property do have to be reported, but this increase seems unheard of.
The Assessor is required by state law to first of all value all property at 100 percent of its market value as determined by sales of comparable property. (See 7-36-15 NMSA 1978). As I think you know, it then taxes at a value of 1/3. What happened here is that they are now saying that the property here is suddenly worth WAY more than it was. Yes, I can see that it would increase in value because the lot is now bigger by 2.545 ac. to 2.795 ac or an increase by a quarter of an acre. Or, put another way, it has increased by about 10%. This does not seem that such an increase would cause a related increase in value from to 972,700 from 227,500! In fact, if you look, they assessed the STRUCTURE as having increased in value from 60k to 600k+. Sounds ludicrous, unless possible that last assessment occurred 75 years ago. The land value also increase way more than one would expect at 166k to 349k.
I suspect there is grave error here. And an appeal should take care of it. In this market, moreover, it is crazy, becuase values have plummeted. I would appeal, asap, because this "protest" needs to be made within 30 days of this notice, but I would also get a copy of the last assessment. Santa Fe Residential property values may only increase no more than 3% per year therefore limiting the amount that will be available to the taxing Authorities. I would argue that that additional .25 acre could only itself increase by 3%...as is true of the remaining land your grandmother already own.
One other thing I would do: I would get a reputable appraiser to provide comparative market analysis on similar properties, because the value IS based on FMV (100% of same, to which the 1/3 is then applied, then the taxes)...Are 2.75 acred property with a home her size going for near a million in that area?
Good luck. I'm sure your grandmother had quite a shock here.
A bit more can be read here: http://www.santafecounty.org/assessor/faq_section
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YOu need to appeal this assessment.