New Mexico Property Tax Calculator
Applies New Mexico’s effective rate of 0.63%.
New Mexico property tax estimator
Applies New Mexico’s effective rate of 0.63%.
Estimated annual tax —
Monthly escrow —
Saved by exemption —
New Mexico at a glance
| Figure | New Mexico | Source |
|---|---|---|
| Effective property tax rate | 0.63% | [1] |
| Median home value | $321,000 | [1] |
| Tax on the median home | $2,022 | [1] |
| Homestead exemption | None / local only | [2] |
New Mexico highlighted. Same data as the table below, shown as a distribution so the comparison is visible at a glance.
Highlighted: New Mexico, ranked 34 of 50. Median 0.79%.
New Mexico property tax by home value
Annual tax at New Mexico's 0.63% effective rate, with and without homestead.
| Home value | Annual | Monthly | No exemption |
|---|---|---|---|
| $75,000 | $473 | $39 | $473 |
| $100,000 | $630 | $53 | $630 |
| $125,000 | $788 | $66 | $788 |
| $150,000 | $945 | $79 | $945 |
| $175,000 | $1,103 | $92 | $1,103 |
| $200,000 | $1,260 | $105 | $1,260 |
| $225,000 | $1,418 | $118 | $1,418 |
| $250,000 | $1,575 | $131 | $1,575 |
| $300,000 | $1,890 | $158 | $1,890 |
| $350,000 | $2,205 | $184 | $2,205 |
| $400,000 | $2,520 | $210 | $2,520 |
| $450,000 | $2,835 | $236 | $2,835 |
| $500,000 | $3,150 | $263 | $3,150 |
| $600,000 | $3,780 | $315 | $3,780 |
| $700,000 | $4,410 | $368 | $4,410 |
| $850,000 | $5,355 | $446 | $5,355 |
| $1,000,000 | $6,300 | $525 | $6,300 |
| $1,250,000 | $7,875 | $656 | $7,875 |
Worked figures for New Mexico
New Mexico values:
| Value | Annual | Monthly | Effective |
|---|---|---|---|
| $100,000 | $630 | $53 | 0.63% |
| $150,000 | $945 | $79 | 0.63% |
| $200,000 | $1,260 | $105 | 0.63% |
| $250,000 | $1,575 | $131 | 0.63% |
| $300,000 | $1,890 | $158 | 0.63% |
| $400,000 | $2,520 | $210 | 0.63% |
| $500,000 | $3,150 | $263 | 0.63% |
| $600,000 | $3,780 | $315 | 0.63% |
| $750,000 | $4,725 | $394 | 0.63% |
| $900,000 | $5,670 | $473 | 0.63% |
| $1,000,000 | $6,300 | $525 | 0.63% |
| $1,500,000 | $9,450 | $788 | 0.63% |
How New Mexico compares nationally
On effective property tax rate, New Mexico ranks #34 of 50 at 0.63% — 20% below the median of 0.79%. The national range runs from 0.29% (Hawaii) to 1.88% (Illinois).
| Rank | State | Effective property tax rate |
|---|---|---|
| #32 | California | 0.70% |
| #33 | North Carolina | 0.66% |
| #34 | New Mexico | 0.63% |
| #35 | Montana | 0.61% |
| #36 | Mississippi | 0.58% |
Mid-range effective rates, ranked
Same rule structure as New Mexico:
| State | Effective property tax rate | vs New Mexico |
|---|---|---|
| Nebraska | 1.44% | +128.6% |
| Texas | 1.40% | +122.2% |
| Ohio | 1.36% | +115.9% |
| Iowa | 1.33% | +111.1% |
| Wisconsin | 1.32% | +109.5% |
| Pennsylvania | 1.26% | +100.0% |
| Kansas | 1.21% | +92.1% |
| Michigan | 1.19% | +88.9% |
| Rhode Island | 1.12% | +77.8% |
| Massachusetts | 1.00% | +58.7% |
| Maine | 0.98% | +55.6% |
| Alaska | 0.94% | +49.2% |
New Mexico questions, answered with New Mexico numbers
What is property tax on a median New Mexico home?▾
New Mexico's median home is $321,000 and its effective rate is 0.63%, giving roughly $2,022 a year — about $169 a month in escrow.
What about a $500,000 home?▾
Approximately $3,150 annually.
Does New Mexico have a homestead exemption?▾
New Mexico has no flat statewide homestead exemption; relief is handled locally, so check with your county assessor.
Other mid-range effective rates
Last reviewed 2026-08-26. New Mexico figures only — verify with the relevant New Mexico agency before acting. How this is calculated.