New Mexico Property Tax Rates
New Mexico (NM) has an effective property tax rate of 0.67%, which is 0.39% below the national average of 1.06%.
2024 DataNew Mexico Counties Property Tax Rates
| County | Rate | Median Tax |
|---|---|---|
| Bernalillo County | 0.60% | $1,608 |
| Dona Ana County | 0.67% | $1,844 |
| Santa Fe County | 0.58% | $741 |
| Sandoval County | 0.84% | $1,304 |
| San Juan County | 0.50% | $1,161 |
| Valencia County | 0.66% | $870 |
| Lea County | 0.84% | $2,189 |
| McKinley County | 0.69% | $1,576 |
| Otero County | 0.52% | $1,275 |
| Chaves County | 0.59% | $1,678 |
| Eddy County | 0.75% | $1,738 |
| Curry County | 0.63% | $1,179 |
| Rio Arriba County | 0.69% | $954 |
| Taos County | 0.79% | $1,330 |
| Grant County | 0.85% | $2,189 |
| Cibola County | 0.53% | $975 |
| San Miguel County | 0.72% | $1,945 |
| Luna County | 0.54% | $801 |
| Lincoln County | 0.76% | $1,044 |
| Los Alamos County | 0.81% | $1,500 |
| Roosevelt County | 0.71% | $1,735 |
| Socorro County | 0.52% | $1,610 |
| Torrance County | 0.49% | $1,033 |
| Colfax County | 0.54% | $713 |
| Sierra County | 0.58% | $1,215 |
| Quay County | 0.76% | $1,065 |
| Mora County | 0.57% | $1,567 |
| Guadalupe County | 0.80% | $1,221 |
| Hidalgo County | 0.53% | $774 |
| Union County | 0.53% | $681 |
| Catron County | 0.81% | $1,391 |
| De Baca County | 0.51% | $1,098 |
| Harding County | 0.50% | $1,583 |
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Looking to reduce your housing costs? Compare mortgage refinancing rates to lower your monthly payment. Check homeowners insurance quotes for potential savings. Explore home equity loan offers for home improvements. Consider property tax appeal services if your assessment seems too high.
How New Mexico Compares to Neighboring States
New Mexico Property Tax Overview
The effective property tax rate in New Mexico is 0.67%, meaning a homeowner with a property valued at $211,400 would pay approximately $1,416 annually. Understanding your property tax deduction eligibility can help offset this cost on your federal return.
New Mexico homeowners may qualify for a homestead exemption that reduces the taxable value of their primary residence. If your property assessment seems too high, consider a tax assessment appeal to potentially lower your bill.
For more financial context, explore salary data, cost of living, and ZIP code details for New Mexico.