Property tax by ZIP code in New Mexico
Enter a New Mexico ZIP and see the median property tax paid, median home value, and effective tax rate from the 2020–2024 American Community Survey — plus how it compares to the New Mexico state median.
Look up a New Mexico ZIP code
Enter a 5-digit New Mexico ZIP code above to see its property tax data.
ZIP doesn't have ACS data — typically because it's a PO-box-only ZIP, a single-business ZIP, or a small area where the Census suppresses small-sample estimates. Try a nearby ZIP.
ZIP isn't a New Mexico ZIP code. This page covers New Mexico only. Other states are launching state by state — check back, or use our state-by-state median page in the meantime.
New Mexico's effective property-tax rate is among the lowest in the country — around 0.70% of value statewide. A big reason is structural: a home is taxed not on its full market price but on a taxable value of just one-third (33⅓%) of market value, so the rate you'd compute against a sale price looks small before any other relief.
Two more features hold bills down. The residential taxable value of a home can rise no more than 3% a year while the same owner keeps it, and the state layers on exemptions — a head-of-family exemption, a veteran exemption, and a value freeze for low-income seniors. Enter a 5-digit New Mexico ZIP to see its median property tax, median home value, and effective rate from the US Census American Community Survey 2020–2024 vintage, plus how it compares to the New Mexico state and US national medians. The explainer below covers the 33⅓% rule, the 3% cap and why it makes neighbors pay differently, and each exemption.
How New Mexico property tax works
In New Mexico, the county assessor values property and then taxes it on a taxable value equal to one-third (33⅓%) of market value (NMSA 7-37-3). Property is reappraised annually, but state law limits how fast a residence's taxable value can climb: the annual increase in residential taxable value is capped at 3% (NMSA 7-36-21.2). That cap resets to full market value when the property changes ownership and does not apply to new improvements — so identical neighboring homes can owe very different bills depending on when each was bought, a pattern often called the "acquisition-value" distortion.
Several exemptions reduce taxable value directly. The head-of-family exemption removes $2,000 of taxable value (NMSA 7-37-4), and the veteran exemption removes $10,000 — raised from $4,000 effective tax year 2025 and now indexed to inflation. A veteran rated 100% service-connected disabled qualifies for a full exemption on a primary residence; a 2024 constitutional amendment began making that disabled-veteran benefit proportional to the VA rating starting in tax year 2026.
Lower-income seniors get the most durable relief: New Mexico's value freeze locks the taxable value of a primary residence for homeowners 65 or older (or disabled) whose household income falls under an annual limit — $44,200 for 2026 — so their taxable value stops rising even as the market climbs. The veteran-exemption increase and the proportional disabled-veteran change were locked in by voters in November 2024 (Amendments 2 and 1) and implemented by HB47, signed March 20, 2025 — these are enacted, not proposed.
Why your actual bill differs
The numbers above describe a typical homeowner in this ZIP — not your specific bill. A few things move bills away from the median:
- Overlapping mill rates. Your bill stacks county, municipal, and school-district levies against your taxable value, so two similar homes in different taxing districts can owe different amounts.
- The 3% cap and acquisition value. Because a long-time owner's residential taxable value can rise only 3% a year while a recent buyer's resets to full market value, recent buyers often pay more than long-time owners of an otherwise identical home.
- Exemptions and the senior freeze. The head-of-family exemption, the veteran exemption (and the full exemption for 100% disabled veterans), and the low-income value freeze for owners 65+ each pull a qualifying owner's bill below the median.
New Mexico has no single statewide bill lookup — each county runs its own. The Bernalillo County Treasurer's public-access site (Albuquerque) is a working example; for other counties, search your county treasurer's property or tax-records page.
Methodology
Data on this page comes from the US Census American Community Survey 5-year estimates, 2020–2024 vintage (released January 29, 2026), at the ZIP Code Tabulation Area (ZCTA) level. After filtering ZCTAs the Census suppresses for privacy or small-sample reasons, this page covers 217 New Mexico ZIPs.
Topcoding in New Mexico. The Census caps median property tax at $10,000, reporting anything higher as $10,001. New Mexico's low taxable values and modest effective rate keep essentially every ZIP below the cap, so the figures here are true medians.
See the full methodology page for source details (Census table IDs, the comparison-median rule, calculator formulas), how we handle topcoding across every state, and the refresh cadence.
Frequently asked questions
Why is the median tax in my ZIP different from what I pay?
Median is the middle of the distribution, not your bill. In New Mexico your assessor taxes one-third of market value, your bill stacks overlapping county, municipal, and school mill rates, and the 3% cap means recent buyers and long-time owners of identical homes can owe very different amounts. Head-of-family and veteran exemptions and the senior value freeze move qualifying owners further from the median.
What is New Mexico's 3% valuation cap, and why do neighbors pay different amounts?
State law (NMSA 7-36-21.2) limits the annual increase in a home's residential taxable value to 3%. The cap resets to full market value on a change of ownership and excludes new improvements, so a long-time owner can sit well below market while the buyer next door resets to today's price — the "acquisition-value" gap that makes identical neighboring homes owe different bills.
Where do I find my actual New Mexico property tax bill?
Through your county treasurer. New Mexico has no statewide portal; each county runs its own. The Bernalillo County Treasurer public-access site (Albuquerque) is a working example.
When does New Mexico data update on this page?
Annually, when the Census Bureau releases a new ACS 5-year vintage. The 2020–2024 vintage released January 29, 2026. The next vintage (2021–2025) typically follows the next year, though the Census has not yet posted its release date.
Why don't you cover other states yet?
State-by-state rollout. Each state needs its own context section (assessment method, exemptions, local taxing structure) to be genuinely useful. High-search-volume states are going live first.