Santa Fe, Santa Fe County, New Mexico Property Taxes
Property Taxes in Santa Fe, New Mexico
Median Santa Fe, New Mexico effective property tax rate: 0.54%, significantly lower than the national median of 1.02%, and lower than the New Mexico state median of 0.85%.
Median Santa Fe, New Mexico home value: $405,164
Median annual Santa Fe, New Mexico tax bill: $2,140, lower than the national median property tax bill of $2,400.
How are property taxes in Santa Fe calculated?
Property taxes in Santa Fe, New Mexico 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 Santa Fe's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Santa Fe, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Santa Fe, Santa Fe County, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.54%
Estimate Property Tax Bill
$2,188
$2,030
How Does the Santa Fe Property Tax Calculator Work?
Use this Santa Fe property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Santa Fe's median effective tax rate of 0.54% — based on actual property records in Santa Fe County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Santa Fe's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Santa Fe: rates range from $1,544.00 in 87507 to $3,549.00 in 87506, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Santa Fe.
About Santa Fe Property Taxes
About Property Taxes in Santa Fe, Santa Fe, New Mexico
Santa Fe’s median effective property tax rate of 0.54% is lower than the New Mexico state median of 0.85% and lower than the national median of 1.02%. This rate reflects the Santa Fe County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Santa Fe. Homeowners in the 87507 ZIP code carry a median effective rate of 0.57%, while those in 87505 pay 0.52%. This spread — 0.05 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Santa Fe County. Understanding which part of Santa Fe you live in can make a meaningful difference to your annual tax bill.
Santa Fe homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the May 1, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Santa Fe, Santa Fe County, New Mexico
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate.
While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Santa Fe's effective property tax rate to other cities in New Mexico and the median property tax rates in New Mexico and the U.S.
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 Santa Fe Tax Rate
0.54%
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 Santa Fe County Tax Rate
0.55%
Median Effective New Mexico Tax Rate
0.85%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Santa Fe, Santa Fe County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87501 | 0.34% | 0.43% | 0.54% | 0.63% | 0.76% |
| 87505 | 0.36% | 0.44% | 0.52% | 0.62% | 0.72% |
| 87506 | 0.38% | 0.45% | 0.53% | 0.66% | 0.74% |
| 87507 | 0.37% | 0.47% | 0.57% | 0.71% | 0.76% |
| 87508 | 0.39% | 0.47% | 0.54% | 0.64% | 0.70% |
| 87502 | N/A | N/A | N/A | N/A | N/A |
| 87504 | N/A | N/A | N/A | N/A | N/A |
| 87509 | N/A | N/A | N/A | N/A | N/A |
| 87540 | N/A | N/A | N/A | N/A | N/A |
| 87592 | N/A | N/A | N/A | N/A | N/A |
| 87594 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Santa Fe, Santa Fe County, New Mexico
When examining property taxes in Santa Fe, New Mexico, 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 Santa Fe 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.
Assessment notices:
In Santa Fe County, assessment notices are sent in April each year. They'll typically reach your mailbox by the middle of April.
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 Santa Fe.
For example, the median home price in Santa Fe is $405,164, with tax bills ranging significantly across the county. 87506 has the highest median home price at $653,389.
Property Tax Assessment Values Across Santa Fe, Santa Fe County, New Mexico
Source: Ownwell
$113,730
$471,494
$829,258
Median Santa Fe Market Value
$405,164
Median Santa Fe County Market Value
$373,377
Median New Mexico Market Value
$129,686
Median United States Market Value
$235,294
Property Tax Assessment Values Across Santa Fe, Santa Fe County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87501 | $292,532 | $392,784 | $566,004 | $908,860 | $1,380,435 |
| 87505 | $189,832 | $313,433 | $437,258 | $668,765 | $1,036,992 |
| 87506 | $16,637 | $226,684 | $653,389 | $1,284,517 | $1,795,147 |
| 87507 | $11,973 | $80,000 | $305,317 | $400,117 | $552,659 |
| 87508 | $93,801 | $340,776 | $488,107 | $654,366 | $848,583 |
| 87502 | N/A | N/A | N/A | N/A | N/A |
| 87504 | N/A | N/A | N/A | N/A | N/A |
| 87509 | N/A | N/A | N/A | N/A | N/A |
| 87540 | N/A | N/A | N/A | N/A | N/A |
| 87592 | N/A | N/A | N/A | N/A | N/A |
| 87594 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Santa Fe, Santa Fe County, New Mexico
Property tax bills in Santa Fe are based on the assessed value of a home, not its market price alone. Local tax rates are applied to that assessed value to determine the amount owed each year, so changes in valuation can directly affect a homeowner’s bill.
For a home with a median home price of $405,164, the tax bill can vary widely depending on location and assessment details. In Santa Fe, the 25th percentile tax bill is $1,269, while the 75th percentile is $3,638 and the 90th percentile reaches $6,021. That range shows how much property taxes can differ from one homeowner to another.
Some areas of the city also see higher or lower typical bills. The highest median tax bill is $3,549 in ZIP code 87506, while the lowest median tax bill is $1,544 in ZIP code 87507. For homeowners, this means property taxes can have a meaningful impact on annual housing costs and overall affordability.
Median Santa Fe Tax Bill
$2,140
Median Santa Fe County Tax Bill
$1,941
Median New Mexico Tax Bill
$1,249
Median United States Tax Bill
$2,400
Property Tax Bills Across Santa Fe, Santa Fe County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87501 | $1,248 | $1,860 | $2,992 | $5,087 | $8,088 |
| 87505 | $907 | $1,454 | $2,257 | $3,679 | $5,863 |
| 87506 | $123 | $1,136 | $3,549 | $6,868 | $9,781 |
| 87507 | $87 | $560 | $1,544 | $2,312 | $3,306 |
| 87508 | $628 | $1,687 | $2,596 | $3,793 | $5,149 |
| 87502 | N/A | N/A | N/A | N/A | N/A |
| 87504 | N/A | N/A | N/A | N/A | N/A |
| 87509 | N/A | N/A | N/A | N/A | N/A |
| 87540 | N/A | N/A | N/A | N/A | N/A |
| 87592 | N/A | N/A | N/A | N/A | N/A |
| 87594 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | June 1 |
Links | |
|---|---|
| Santa Fe Tax Assessor | |
| Website | sfcomaps.santafecountynm.gov |