New Mexico Property Tax Calculator
Homeowners in New Mexico pay an average effective property tax rate of 0.63%. The median bill is $1,731 a year on a median home value of $248,100.
Property tax on homes in New Mexico
| Home value | Yearly tax | Monthly |
|---|---|---|
| $200,000 | $1,260 | $105 |
| $300,000 | $1,890 | $158 |
| $400,000 | $2,520 | $210 |
| $500,000 | $3,150 | $263 |
| $750,000 | $4,725 | $394 |
The effective rate was 0.62% a year earlier. Most states let owners who live in their home claim a homestead exemption or credit that lowers the taxable value; check with your county assessor before you budget.
Data: owner-occupied housing, Census American Community Survey 2020–2024 via Tax Foundation. Reviewed 2026-10-25.
Sources: taxfoundation.org
Frequently asked questions
What is the property tax rate in New Mexico?
The average effective rate is 0.63% of home value (34th highest of 50 states and DC). Rates differ by county, city and school district.
How much is property tax on a $300,000 home in New Mexico?
About $1,890 a year ($158 a month) at the statewide average rate.