New Mexico Property Tax Rate
33 Counties
New Mexico has an effective property tax rate of 0.70%, ranking it #35 among all 50 states. The median homeowner in New Mexico pays $1,731 per year in property taxes on a home valued at $248,100. This rate is 24% lower than the national average of 0.92%.
0.70%
#35 of 50 states
$1,731
Per year
$248,100
2024 estimate
33
Population: 2,120,246
Property Tax Rates by County in New Mexico
| Rank ▲ | County | Effective Rate |
|---|---|---|
| #1 | McKinley County | 2.00% |
| #2 | Bernalillo County | 0.90% |
| #3 | Cibola County | 0.80% |
| #4 | Sandoval County | 0.73% |
| #5 | Mora County | 0.72% |
| #6 | Union County | 0.70% |
| #7 | San Juan County | 0.68% |
| #8 | Doña Ana County | 0.67% |
| #9 | Valencia County | 0.62% |
| #10 | Quay County | 0.61% |
| #11 | Socorro County | 0.61% |
| #12 | Chaves County | 0.60% |
| #13 | De Baca County | 0.60% |
| #14 | Curry County | 0.59% |
| #15 | San Miguel County | 0.57% |
| #16 | Los Alamos County | 0.55% |
| #17 | Otero County | 0.55% |
| #18 | Luna County | 0.54% |
| #19 | Lincoln County | 0.53% |
| #20 | Colfax County | 0.52% |
How New Mexico Compares
Neighboring States
Calculate Your Property Tax in New Mexico
Or open the full New Mexico Property Tax Calculator to estimate your bill by county.
Property Tax Calculator
Estimate your annual property tax based on your location and home value
Estimated Annual Property Tax
$2,100
$175/month · Rate: 0.70%
Home Value
$300,000
Taxable Value
$300,000
Effective Rate
0.70%
New Mexico Property Tax Exemptions
Head of Household
$2,000 reduction in assessed value
Heads of household occupying primary residence
Over 65
Assessed value frozen at current level
Homeowners age 65+ with modified gross income under $32,000
Disabled Veteran
100% exemption for totally disabled veterans (up to specified value)
Veterans with 100% permanent service-connected disability
Not sure which exemption applies to you? See our full homestead exemption guide for all 50 states, including amounts and application deadlines.
When Are Property Taxes Due in New Mexico?
New Mexico law sets a statewide two-installment schedule. County treasurers mail bills by November 1; the first half is due November 10 and the second half is due April 10 of the following year.
First half
November 10
Delinquent December 10
Second half
April 10
Delinquent May 10
If you pay late: The first half becomes delinquent after December 10 and the second half after May 10; delinquent taxes accrue interest of 1% per month plus a penalty of 1% per month (up to a 5% maximum) per Section 7-38-38 NMSA 1978.
See how New Mexico compares in our full guide to property tax due dates for all 50 states.
Nearby States
Frequently Asked Questions
Data Source: U.S. Census Bureau, 2024 American Community Survey 5-Year Estimates (the latest available). Effective tax rates are calculated by dividing median real estate taxes paid by median home value. Actual property tax rates may vary based on local taxing jurisdictions, exemptions, and assessment practices. This information is for general reference only and should not be used as a substitute for professional tax advice.