What is the property tax rate in New Mexico?

The statewide effective rate is 0.72% of home value, from a median bill of $1,669 on a median home of $232,200. Rates are set locally rather than by the state, so this is a weighted outcome across 26 counties rather than a posted figure.

Which New Mexico county has the highest property tax?

McKinley County at 1.89%, and Taos County is the lowest at 0.33%. A spread that wide inside one state is normal: school district funding varies far more than state policy does.

How much is property tax on a $400,000 home in New Mexico?

Roughly $2,880 a year at the state effective rate, though the county matters more than the state. Pick your county below for a closer figure.

Is New Mexico expensive to live in?

Prices overall run at 92.2 against a national 100, ranking it #37 of 51. Housing is the part that moves: rents there sit at 73.6. Full cost of living breakdown.

New Mexico property tax by county

The median New Mexico homeowner pays $1,669 a year in property tax on a home worth $232,200, an effective rate of 0.72%. That ranks New Mexico #34 of 51 states, against a national 0.98%.

Effective rate 0.72% #34 of 51 states

Median bill $1,669 U.S. $2,969

Median home $232,200 #37 most expensive

Counties covered 26 over 5,000 people

Why the county matters more than the state

McKinley County charges an effective 1.89% and Taos County 0.33%, a spread of 1.56 points inside one state. Property tax in the United States is set by counties, cities, school districts and special districts, not by states. A statewide figure is a weighted average of thousands of separate decisions, and it can be a poor guide to any particular address.

New Mexico sits 0.26 points below the national effective rate. A low rate is not the same as a low bill: on an expensive home it can still produce a large one. House prices in the state moved -1.2% over the year to 2026 Q2, which changes the denominator of this rate over time.

Every county ranked

New Mexico counties by effective property tax rate, ACS 2023 five-year estimates
#	County	Rate	Median bill	Home value	Rent	Income
1	McKinley County	1.89%	$1,362	$72,100	$810	$44,496
2	Bernalillo County	0.95%	$2,544	$268,500	$1,087	$66,514
3	Cibola County	0.82%	$983	$120,000	$724	$51,765
4	Sandoval County	0.76%	$2,147	$282,300	$1,408	$84,053
5	Doña Ana County	0.68%	$1,404	$205,400	$903	$55,663
6	San Juan County	0.67%	$1,249	$185,100	$917	$53,020
7	Valencia County	0.66%	$1,365	$206,800	$970	$58,333
8	Chaves County	0.64%	$915	$141,900	$838	$52,029
9	Quay County	0.62%	$507	$82,200	$752	$43,698
10	Luna County	0.58%	$648	$112,500	$685	$37,917
11	Colfax County	0.58%	$927	$161,000	$704	$52,690
12	Los Alamos County	0.57%	$2,591	$452,500	$1,308	$143,188
13	Otero County	0.56%	$841	$149,500	$926	$52,717
14	Curry County	0.56%	$893	$160,800	$987	$56,259
15	San Miguel County	0.56%	$991	$177,600	$774	$47,400
16	Socorro County	0.55%	$792	$143,200	$653	$47,556
17	Sierra County	0.55%	$793	$144,800	$695	$37,840
18	Lincoln County	0.54%	$1,143	$212,200	$883	$51,643
19	Santa Fe County	0.51%	$2,110	$416,900	$1,318	$74,689
20	Eddy County	0.50%	$995	$199,400	$1,183	$79,605
21	Lea County	0.47%	$824	$176,000	$1,119	$68,750
22	Torrance County	0.47%	$677	$145,100	$845	$46,250
23	Grant County	0.46%	$756	$164,400	$810	$45,921
24	Roosevelt County	0.44%	$593	$136,000	$863	$52,445
25	Rio Arriba County	0.43%	$1,000	$230,900	$760	$53,901
26	Taos County	0.33%	$1,164	$354,000	$1,069	$58,908

Source: U.S. Census Bureau, American Community Survey 2023 five-year estimates. The effective property tax rate is median taxes paid divided by median home value. The two medians come from different distributions, so it approximates the typical rate rather than describing any one household.