New Mexico taxpayers only need to wait two weeks before they receive a tax rebate worth up to $1,000 this month.

These rebates will be issued to residents of New Mexico who have filed their 2021 taxes and will be worth either $500 for single filers or $1,000 for married taxpayers filing jointly. These payments will be issued either through direct deposits or via paper checks, with direct deposits being sent to bank accounts starting June 16 and paper checks being issued in late June, according to KOAT 7.

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“Prices for basic necessities continue to be high across the nation,” Gov. Michelle Lujan Grisham (D-NM) said in a statement. “Our state today is in a fantastic financial position, and it’s important to me that New Mexico’s families are sharing in that success.”

If a taxpayer has moved to a different address after filing a 2021 tax return, the person can update the address using the Taxpayer Access Point self-service portal on the state's Taxation and Revenue Department. Alternatively, the taxpayer can also submit a change of address form to the state's Taxation and Revenue Department.

Taxpayers who have changed their banking information since submitting their 2021 tax return will get their rebate as a check in the mail.

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Taxpayers who have not yet filed their 2021 returns have until May 31, 2024, to do so.

Additional information regarding this payment can be found online on the state's Taxation and Revenue website.