New Mexico Property Tax Calculator
New Mexico homeowners pay property tax to a collection of local governments — county, municipality, school district — whose combined levy is applied to the value the county assessor sets. Exemption programs reduce the taxable amount for qualifying owners, and valuation protests are heard locally. One statewide rate doesn't exist, so this page uses county medians; select a New Mexico county above and enter a value.
Annual Property Tax
$1,556Monthly (Escrow)
$130Effective Rate
0.63%Highest property tax counties in New Mexico
Effective rate = aggregate real-estate taxes paid ÷ aggregate home value (ACS 2024 5-year).
| County | Effective Rate | Median Home Value |
|---|---|---|
| Bernalillo County | 0.85% | $292,900 |
| Sandoval County | 0.66% | $313,800 |
| Curry County | 0.64% | $171,200 |
| Doña Ana County | 0.64% | $220,800 |
| Chaves County | 0.61% | $156,400 |
| Roosevelt County | 0.60% | $135,800 |
| Socorro County | 0.58% | $137,500 |
| Sierra County | 0.57% | $152,600 |
| Valencia County | 0.57% | $223,000 |
| Otero County | 0.56% | $162,700 |
How property tax works in New Mexico
- The county assessor sets the value; combined local levies from county, municipality, and schools apply to it.
- Exemption programs and local valuation protests both reduce bills when applicable.
Methodology
Rates are aggregate-derived from the Census Bureau's ACS 2024 5-year American Community Survey (total real-estate taxes paid ÷ total home value, by county). This is a statistical estimate, not a bill lookup — actual property tax bills vary by city, school district, and special-district levies layered on top of the county rate, and by any homestead, senior, veteran, or other exemptions you qualify for. New Mexico ranks #34 of 51 (including DC) by statewide average effective rate, where #1 is the highest.
Need your New Mexico income tax too? Use the New Mexico income tax calculator .
Compare property tax across every state at the property tax calculator , or see whether your property tax deduction is capped at the SALT deduction cap calculator .
Frequently asked questions
How is property tax calculated in New Mexico?
The county assessor sets your property's value, qualifying exemptions reduce the taxable portion, and the combined levy of the county, municipality, and school district is applied to what's left. The result appears as one annual bill.
How much property tax will I pay in New Mexico?
It varies with your county's combined levy and the home's value. Select a New Mexico county above, then a value — annual and monthly estimates flow from county-median rates.
Can I lower my New Mexico property tax bill?
Exemptions for heads of household and veterans shrink the taxable amount for those who qualify, and a valuation protest can correct an assessment that overshoots the market. Protest windows follow the annual notice of value.
Are property taxes deductible?
They count toward the federal SALT deduction for itemizers, which is subject to a cap under federal law. See IRS guidance for the current ceiling.
Sources
Related insights
Use these guides for rule explanations, planning context, and follow-up questions beyond the calculator result.