Eddy County, New Mexico property tax
The median homeowner in Eddy County, New Mexico pays $995 a year in property tax on a home worth $199,400, an effective rate of 0.50%. The national effective rate is 0.98%.
What the rate means here
At 0.50%, Eddy County taxes property more lightly than the national 0.98%. That puts the median bill at $995. Rates this low usually mean the state, rather than the county, carries more of the school funding.
It ranks #20 of 26 New Mexico counties by effective rate, against a statewide 0.72%, and #2,430 nationally. The state runs from 1.89% in McKinley County down to 0.33% in Taos County.
The median home costs 2.5 times the median household income of $79,605, against 3.86 nationally, which is a comfortable ratio by American standards. 74.66% of occupied homes are owned rather than rented, and cheap housing relative to income is usually why. With 61,114 residents, the sample behind these medians is small, and the survey's own margins of error are correspondingly wider.
The rate is derived rather than quoted. How and why.
What that costs at different home values
Arithmetic at the county effective rate, before any exemption or assessment cap.
Housing and income
| Eddy County | New Mexico | United States | |
|---|---|---|---|
| Effective property tax | 0.50% | 0.72% | 0.98% |
| Median tax bill | $995 | $1,669 | $2,969 |
| Median home value | $199,400 | $232,200 | $303,400 |
| Median gross rent | $1,183 | $1,021 | $1,348 |
| Median household income | $79,605 | $62,125 | $78,538 |
| Home price to income | 2.5× | 3.74× | 3.86× |
| Rent as share of income | 17.83% | 19.72% | 20.6% |
| Owner-occupied | 74.66% | 69.34% | 65.02% |
Source: U.S. Census Bureau, American Community Survey 2023 five-year estimates. Population 61,114.
Nearby counties of similar size
| County | Rate | Median bill | Home value |
|---|---|---|---|
| Chaves County | 0.64% | $915 | $141,900 |
| Otero County | 0.56% | $841 | $149,500 |
| McKinley County | 1.89% | $1,362 | $72,100 |
| Lea County | 0.47% | $824 | $176,000 |
| Curry County | 0.56% | $893 | $160,800 |
Eddy County property tax: common questions
What is the property tax rate in Eddy County, New Mexico?
The effective rate is 0.50% of home value, from a median tax bill of $995 against a median home value of $199,400. That is 0.48 points below the national 0.98%.
How much is property tax on a $400,000 home in Eddy County?
Roughly $2,000 a year at the county effective rate of 0.50%.
Is Eddy County expensive compared with the rest of New Mexico?
It ranks #20 of 26 New Mexico counties by effective property tax rate, and #2430 of 2,826 nationally. That is 0.22 points below the New Mexico average of 0.72%.
What does housing cost in Eddy County?
The median home is worth $199,400 and median gross rent is $1,183 a month. Median household income is $79,605, which puts the home at 2.5 times annual income and rent at 17.83% of it.