Understanding New Mexico Property Taxes

Overview of New Mexico Taxes

New Mexico collects a total of $21,116,220,000 in revenue every year. Of that, $1,657,728,000 comes from property taxes, or 7.9% of total revenue. As a result, New Mexico has the 40th highest property tax rate in the country, which is 38.3% less than the national average of 1.06%. Generally speaking, states where property taxes make up a higher percentage of total state revenue have higher property tax rates, and states where property taxes make up a smaller percentage of state revenue have lower property tax rates.

How does this translate to what homeowners actually pay? The average home value across New Mexico is $200,870, meaning the average New Mexico homeowner pays 0.66% of their home value every year in property taxes, or $6.57 for every $1,000 in home value.

Property Tax Calendar

New Mexico's property tax system is governed by state statute, which means that despite significant variation in what homeowners in different parts of New Mexico, there are important constants. New Mexico's assessment date, which is both the point in time when the owner of a property is liable for property tax and the point in time at the property's value is determined, is January 1. New Mexico property tax appeals, which allow homeowners to contest the assessment, varies by locality. The date which property tax bills become due on is November 10 and April 10.

Property Tax Calculator

If you are are a current homeowner in New Mexico or are looking at buying a specific property in New Mexico, check out our New Mexico Property Tax Calculator to determine if you should consider appealing your property tax assessment.

Property Tax Tool

If you are planning to buy a home in New Mexico and want to understand the size of your property tax bill, check out our New Mexico Property Tax Tool to see what your bill would be.

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Property Tax Information for New Mexico Counties

The table below will help provide more information about how property taxes work in each county in New Mexico.

County Average Home Value Average Tax Bill Bill per $1,000
Bernalillo County $215,933 $1,946 $9.00
Catron County $175,277 $480 $2.70
Chaves County $129,083 $845 $6.50
Cibola County $109,164 $497 $4.60
Colfax County $171,737 $704 $4.10
Curry County $144,294 $813 $5.60
De Baca County $139,494 $881 $6.30
Doña Ana County $160,669 $1,082 $6.70
Eddy County $154,550 $792 $5.10
Grant County $151,097 $683 $4.50
Guadalupe County $98,520 $526 $5.30
Harding County $177,690 $509 $2.90
Hidalgo County $95,586 $444 $4.60
Lea County $142,169 $671 $4.70
Lincoln County $214,039 $1,041 $4.90
Los Alamos County $290,187 $1,866 $6.40
Luna County $114,407 $604 $5.30
McKinley County $128,044 $393 $3.10
Mora County $190,540 $515 $2.70
Otero County $139,409 $658 $4.70
Quay County $94,303 $472 $5.00
Rio Arriba County $371,466 $538 $1.40
Roosevelt County $151,392 $662 $4.40
Sandoval County $216,387 $1,757 $8.10
San Juan County $158,845 $753 $4.70
San Miguel County $153,635 $786 $5.10
Santa Fe County $346,849 $1,717 $5.00
Sierra County $123,730 $609 $4.90
Socorro County $158,628 $734 $4.60
Taos County $310,880 $915 $2.90
Torrance County $139,421 $712 $5.10
Union County $174,972 $668 $3.80
Valencia County $160,116 $1,076 $6.70

Want to learn more about New Mexico property taxes? Check out out our county-specific property tax pages linked below:

Bernalillo County Catron County Chaves County
Cibola County Colfax County Curry County
De Baca County Doña Ana County Eddy County
Grant County Guadalupe County Harding County
Hidalgo County Lea County Lincoln County
Los Alamos County Luna County McKinley County
Mora County Otero County Quay County
Rio Arriba County Roosevelt County Sandoval County
San Juan County San Miguel County Santa Fe County
Sierra County Socorro County Taos County
Torrance County Union County Valencia County