New Mexico

Property Tax Rates & Rules

0.63%

Effective Rate

$1,795

Median Annual Tax

$285k

Median Home Value

Available

Homestead Exempt

Full Tax Details

Avg Effective Rate0.63%

Median Home Value$285,000

Median Annual Tax$1,795

Assessment Ratio33.33%

Homestead ExemptionYes

Senior ExemptionYes

Highest Rate CountyLos Alamos

Lowest Rate CountyHarding

Payment ScheduleTwo installments: December 10 and May 10.

Assessment Method

Taxable value is one-third of the appraised market value.

Homestead Exemption Details

$2,000 head-of-household exemption available for primary residences.

Senior Exemption Details

Valuation freeze available for low-income seniors 65+; income limit approx. $41,000.

How to Appeal Your Assessment

File a protest with the County Assessor within 30 days of the mailing of the notice.

Official Source

New Mexico Tax Authority

Last verified: 2026-03-31 · Always confirm current rates before making real estate decisions.