Calculate property taxes on any home in New Mexico. The average effective property tax rate is 0.8% — lower than the national average of 1.07%.
Annual Tax (Median Home)
$2,360
Monthly Tax
$197
Tax Rate
0.80%
Avg effective rate
vs. National Avg
-$797
National avg: 1.07%
| Home Value | $295,000 | Median home price in New Mexico (2025) |
| Effective Tax Rate | 0.80% | New Mexico statewide average |
| Annual Tax | $2,360 | Home value × effective rate |
| Monthly Tax | $197 | Annual ÷ 12 months |
| National Avg Rate | 1.07% | US average effective rate |
| vs. National (annual) | -$797 | Difference vs. national avg on same home |
New Mexico's effective property tax rate of 0.8% is lower than the national average of 1.07%. On the median home price of $295,000, homeowners pay approximately $2,360 per year — or $197 added to their monthly housing costs.
Property tax rates vary significantly within New Mexico by county and municipality. The effective rate represents taxes paid as a percentage of home market value. Some counties may assess property at a fraction of market value, so the nominal (millage) rate may differ from the effective rate shown here.
