Federal Income Tax Calculator

NEW MEXICO PROPERTY TAX · 2026

New Mexico property tax calculator

New Mexico's effective property tax rate is 0.627%: owner-occupiers paid a median $1,731 a year on homes with a median value of $248,100. On a $300,000 home, that rate comes to $1,881.00 a year.

Your home

Property tax estimate

Property tax a year
$1,881.00
A month
$156.75
Rate
0.627%, statewide

New Mexico property tax by county

New Mexico property tax by county — 2020-2024
CountyEffective rateMedian taxMedian home value
Bernalillo County0.849%$2,629$292,900
Catron County0.273%$608$167,000
Chaves County0.61%$935$156,400
Cibola County0.465%$1,003$125,400
Colfax County0.512%$867$167,200
Curry County0.644%$1,017$171,200
De Baca County0.549%$1,118$187,500
Doña Ana County0.643%$1,480$220,800
Eddy County0.446%$1,095$212,600
Grant County0.383%$808$175,600
Guadalupe County0.551%$526$110,000
Harding County0.27%$305$70,000
Hidalgo County0.479%$531$111,000
Lea County0.518%$879$184,000
Lincoln County0.536%$1,246$233,200
Los Alamos County0.559%$2,717$495,800
Luna County0.549%$687$128,000
McKinley County0.352%$1,574$78,700
Mora County0.499%$885$122,600
Otero County0.56%$902$162,700
Quay County0.541%$532$87,200
Rio Arriba County0.215%$1,021$243,700
Roosevelt County0.603%$616$135,800
San Juan County0.518%$1,317$193,800
San Miguel County0.473%$1,081$188,500
Sandoval County0.656%$2,296$313,800
Santa Fe County0.449%$2,152$446,300
Sierra County0.569%$789$152,600
Socorro County0.577%$838$137,500
Taos County0.34%$1,129$382,800
Torrance County0.451%$719$159,700
Union County0.303%$859$122,700
Valencia County0.569%$1,374$223,000

New Mexico homestead exemption

  • New Mexico's head-of-family exemption takes $2,000 off taxable value.
  • Taxable value is one-third of assessed value.
  • A home's assessed value can rise at most 3% a year unless it is sold, improved or rezoned.

This is the property tax homestead exemption, not the homestead exemption that protects a home from creditors in bankruptcy.

New Mexico property tax questions

How much is property tax in New Mexico?

New Mexico's effective property tax rate is 0.627%: owner-occupiers paid a median $1,731 a year on homes with a median value of $248,100. On a $300,000 home, that rate comes to $1,881.00 a year.

Which county in New Mexico has the highest property tax?

Bernalillo County, with an effective rate of 0.849%; Rio Arriba County has the lowest, at 0.215%. On a $300,000 home that is $2,547.00 a year in Bernalillo County and $645.00 in Rio Arriba County.

Does New Mexico have a homestead exemption?

New Mexico's head-of-family exemption takes $2,000 off taxable value. The calculator does not subtract it: the rates already reflect the exemptions owners received.

Why might a New Mexico tax bill differ from this estimate?

The rate is what owner-occupiers in New Mexico paid on average in 2020 through 2024, as a share of their homes' value. An actual bill depends on the home's assessed value, the levies where it sits and the exemptions its owner claims.

What the calculator leaves out

  • The rate is the total real estate tax owner-occupiers reported paying divided by the total value they reported for their homes, not a tax rate set by law.
  • The rate already reflects the exemptions, caps and credits typical owner-occupiers received, so the calculator does not subtract a homestead exemption again.
  • An actual bill depends on the home's assessed value, the levies where it sits and the exemptions its owner claims.
  • Survey estimates for small counties have wide margins of error.

Rates and medians are American Community Survey 2020-2024 5-year estimates: taxes owners paid in those years, not 2026 bills.

Sources

Read the full assumptions and sources.

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