$7 million NM home only pays $25 in property taxes

County and state officials want to know how the owner of a Los Ranchos mansion listed for sale at $7 million was billed only $25 for property taxes this year.  

Bernalillo County assessor Karen Montoya says she's trying to find out how the newly built home still is listed as vacant agricultural land. 

The state Taxation and Revenue Department sent a letter to Montoya last month pointing out the designation and noting it now had a 12,000-square-foot luxury home. 

The tax bill should be about $83,000.

$7 million NM home only pays $25 in property taxes