Silver City, Grant County, New Mexico Property Taxes

Name: Property Tax Bills Across Silver City, Grant County, New Mexico
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Silver City, NM effective property tax rate: 0.57%, significantly lower than the national median of 1.02%, but lower than the New Mexico state median of 0.86%.
Median Silver City, NM home value: $78,794
Median annual Silver City, NM tax bill: $445, $1,955 lower than the national median property tax bill of $2,400.

How are property taxes in Grant County calculated?

Property taxes in Silver City, NM are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Silver City’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Silver City, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Silver City, Grant County, New Mexico Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.57%

Estimate Property Tax Bill

$449

$417

Ownwell’s Silver City Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Silver City with just two data points.

By entering your property's estimated assessed value, our calculator applies Silver City’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.

This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Grant County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Silver City, Grant County, New Mexico

Local government entities determine tax rates, which can vary significantly within a state. This is because each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although setting tax rates and budgets involves votes and laws, this is essentially the annual process.

For instance, Silver City in Grant County, New Mexico, has an effective property tax rate of 0.57%, which is significantly lower than the national median of 1.02%. This makes Silver City an attractive location for property owners looking to minimize their tax burden. Compared to other cities within New Mexico, Silver City's tax rate remains competitive, offering residents a financial advantage. The lower tax rate can contribute to a more affordable cost of living, making it an appealing option for potential homeowners or investors. By understanding these local tax dynamics, property owners can make informed decisions that align with their financial goals.

Property Tax Rates Across Silver City, Grant County, New Mexico

Source: Ownwell

0.50%

0.66%

0.81%

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 Effective Silver City Tax Rate

0.57%

Median Effective Grant County Tax Rate

0.60%

Median Effective New Mexico Tax Rate

0.86%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Silver City, Grant County, New Mexico

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
88061	0.49%	0.51%	0.57%	0.60%	0.60%
88022	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Silver City, Grant County, New Mexico

When examining property taxes in Silver City, NM, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Grant County Assessor estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Grant County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Silver City. For example, the median home price in Silver City is $78,794, with tax bills ranging significantly across the county. Zip code 88061 has the highest median home price at $78,834.

Property Tax Assessment Values Across Silver City, Grant County, New Mexico

Source: Ownwell

$10,985

$65,642

$120,298

Median Silver City Market Value

$78,794

Median Grant County Market Value

$54,932

Median New Mexico Market Value

$121,540

Median United States Market Value

$235,294

Property Tax Assessment Values Across Silver City, Grant County, New Mexico

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
88061	$4,390	$11,200	$78,834	$167,708	$257,430
88022	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Silver City, Grant County, New Mexico

In Silver City, located in Grant County, NM, property tax bills are determined by assessing the property's value and applying the local tax rate. Homeowners in Silver City face a median property tax bill of $445, significantly lower than the national median of $2,400. This is due to the relatively low median home price of $78,794 in the area. Factors influencing the tax bill include the assessed property value and local tax rates. Despite the lower bills, homeowners can still benefit from reducing their property tax burden. The 25th percentile tax bill is $64, while the 75th percentile reaches $928, and the 90th percentile is $1,403, indicating variability based on property value and location. Ownwell assists homeowners by offering property tax appeal and exemption services, potentially lowering these bills further. By analyzing local assessments and identifying discrepancies, Ownwell helps homeowners ensure their property taxes are fair, maximizing savings and providing peace of mind.

Property Tax Bills Across Silver City, Grant County, New Mexico

Source: Ownwell

$79

$341

$603

Median Silver City Tax Bill

$445

Median Grant County Tax Bill

$356

Median New Mexico Tax Bill

$1,192

Median United States Tax Bill

$2,400

Property Tax Bills Across Silver City, Grant County, New Mexico

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
88061	$24	$64	$445	$928	$1,403
88022	N/A	N/A	N/A	N/A	N/A

Source: Ownwell