Loan Tax CalculatorNew Mexico property tax
Effective rate
0.63%
Median home value
$308,031
Average annual tax
$1,941
Rank of 51
#34
1 = highest effective rate
New Mexico's rate is 0.27 points below the national average of 0.90%. On the median-priced New Mexico home, that's about $162 per month added to the mortgage payment.
Estimate your New Mexico property tax
Annual tax—
Monthly escrow—
At the average effective rate of 0.63%. Local county and municipal rates vary.
Tax on typical home values
| Home value | Annual tax | Monthly escrow |
|---|---|---|
| $250,000 | $1,575 | $131 |
| $400,000 | $2,520 | $210 |
| $600,000 | $3,780 | $315 |
How New Mexico compares
Texas1.40%
Oklahoma0.79%
New Mexico (this state)0.63%
Colorado0.48%
Arizona0.48%
Utah0.48%
National average0.90%
Homestead exemptions & relief
Head of Family Exemption: $2,000 off assessed value for primary homeowners; $150,000 exemption for bankruptcy protection; disabled veterans with 100% disability receive full exemption