In tax year 2026, the median New Mexico homeowner paid $1,249 in property taxes, a median effective rate of 0.85% of market value, compared with 1.27% nationally. Rates range from 0.55% in Santa Fe County to 1.37% in Bernalillo County, because each county, city, and school district sets its own tax rate.
- Median New Mexico effective property tax rate: 0.85%
- Median New Mexico home value: $129,686
- Median New Mexico property tax bill: $1,249
- Highest median bill: Los Alamos County $2,686
- Lowest median bill: Socorro County $116
Last Updated October 21, 2026
How Property Taxes Work in New Mexico
In New Mexico, your county assessor estimates your home's value, and property is taxed at 33.33% of market value. Your bill is that assessed value, minus any exemptions, multiplied by the combined tax rate of every local government that covers your property, usually your county, city, school district, and any special districts.
The New Mexico Taxation and Revenue Department oversees property tax administration in New Mexico and publishes guidance on assessments, exemptions, and appeals.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median New Mexico Effective Property Tax Rate
0.85%
Median New Mexico Home Value
$129,686
Median New Mexico Tax Bill
$1,249
Every property tax bill comes from three inputs:
Assessed Value
A local assessor or appraisal district estimates your home's market value. Many states then apply an assessment ratio. For example, Georgia taxes homes at 40% of market value, while Texas uses 100%. Some states, like California, cap how fast assessed values can rise for homestead properties.
Exemptions
Homestead, senior, veteran, and disability exemptions reduce the taxable value of qualifying homes, usually for a primary residence only.
Tax Rates
Each taxing authority that covers your property, typically a county, city, school district, and sometimes special districts, sets its own rate. Rates are usually expressed as millage (dollars per $1,000 of taxable value) or as a rate per $100 of value.
Your bill is your taxable value (assessed value minus exemptions) multiplied by the combined tax rate.
What is the Median Effective Property Tax Rate?
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments. Because states and counties assess property differently, the effective rate is the clearest way to compare bills across New Mexico.
Counties With the Highest and Lowest Property Taxes
Five Highest Median Property Tax Bills
| Rank | County | Median Tax Bill |
|---|---|---|
| 1. | Los Alamos County | $2,686 |
| 2. | Bernalillo County | $2,681 |
| 3. | Sandoval County | $2,192 |
| 4. | Santa Fe County | $1,941 |
| 5. | Harding County | $1,936 |
Five Lowest Median Property Tax Bills
| Rank | County | Median Tax Bill |
|---|---|---|
| 27. | Taos County | $203 |
| 28. | Guadalupe County | $199 |
| 29. | Torrance County | $157 |
| 30. | Luna County | $148 |
| 31. | Socorro County | $116 |
1 of 33 New Mexico counties have a median effective rate above the national 1.27%. Bernalillo County has the highest median effective rate at 1.37%, and Santa Fe County has the lowest at 0.55%.
Property Tax Rates and Bills by County
| Rank | County | Median Effective Tax Rate | Median Home Value | Median Tax Bill | 25th % Bill | 75th % Bill | 90th % Bill |
|---|---|---|---|---|---|---|---|
| 1 | Los Alamos County | 0.76% | $367,265 | $2,686 | $1,887 | $3,789 | $5,011 |
| 2 | Bernalillo County | 1.37% | $179,853 | $2,681 | $1,872 | $3,842 | $5,596 |
| 3 | Sandoval County | 1.15% | $204,174 | $2,192 | $1,467 | $3,343 | $4,727 |
| 4 | Santa Fe County | 0.55% | $373,377 | $1,941 | $1,046 | $3,364 | $5,607 |
| 5 | Harding County | 0.82% | $245,721 | $1,936 | $406 | $19,835 | $26,224 |
| 6 | DoaAna County | 1.01% | $133,856 | $1,292 | $309 | $2,191 | $3,179 |
| 7 | Curry County | 0.84% | $112,208 | $924 | $340 | $1,623 | $2,223 |
| 8 | McKinley County | 1.18% | $81,525 | $910 | $201 | $1,704 | $2,649 |
| 9 | San Miguel County | 0.77% | $77,569 | $876 | $458 | $1,375 | $2,066 |
| 10 | Otero County | 0.76% | $122,912 | $860 | $505 | $1,426 | $2,108 |
| 11 | San Juan County | 0.79% | $103,862 | $835 | $218 | $1,558 | $2,298 |
| 12 | Colfax County | 0.93% | $87,627 | $754 | $361 | $1,790 | $3,644 |
| 13 | Chaves County | 0.86% | $77,686 | $623 | $283 | $1,226 | $2,024 |
| 14 | Roosevelt County | 0.82% | $69,424 | $523 | $253 | $995 | $1,633 |
| 15 | Lea County | 0.91% | $57,933 | $516 | $194 | $1,183 | $2,034 |
| 16 | Cibola County | 0.99% | $51,471 | $513 | $150 | $987 | $1,629 |
| 17 | Lincoln County | 0.95% | $94,432 | $430 | $132 | $1,375 | $2,797 |
| 18 | Sierra County | 0.93% | $39,830 | $426 | $129 | $970 | $1,670 |
| 19 | Grant County | 0.61% | $61,450 | $400 | $62 | $852 | $1,341 |
| 20 | Rio Arriba County | 0.81% | $21,947 | $393 | $239 | $771 | $1,423 |
| 21 | Mora County | 0.56% | $65,541 | $368 | $144 | $678 | $1,105 |
| 22 | Quay County | 0.97% | $31,470 | $308 | $106 | $670 | $1,205 |
| 23 | De Baca County | 0.78% | $36,252 | $297 | $127 | $647 | $1,288 |
| 24 | Eddy County | 0.67% | $36,198 | $274 | $70 | $742 | $1,689 |
| 25 | Valencia County | 0.83% | $28,576 | $265 | $129 | $812 | $1,434 |
| 26 | Hidalgo County | 0.68% | $36,648 | $227 | $91 | $451 | $786 |
| 27 | Taos County | 0.62% | $27,789 | $203 | $53 | $730 | $1,825 |
| 28 | Guadalupe County | 0.82% | $25,125 | $199 | $70 | $482 | $1,145 |
| 29 | Torrance County | 0.80% | $20,012 | $157 | $65 | $441 | $938 |
| 30 | Luna County | 0.71% | $18,450 | $148 | $74 | $297 | $548 |
| 31 | Socorro County | 1.02% | $12,110 | $116 | $59 | $250 | $740 |
| — | Catron County | N/A | N/A | N/A | N/A | N/A | N/A |
| — | Union County | N/A | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
How Ownwell Can Help in New Mexico
The below services are dependent on where you live in the United States. Not all products or services are available to every property owner or homeowner.
Appeal packet
Ownwell's appeal packet gives you the evidence and filing guidance you need to protest your assessment yourself.
Exemption filing
Ownwell checks whether you're missing any property tax exemptions and helps you apply for the ones you qualify for.
Bill reduction
Ownwell can also help lower your other recurring household bills.