San Miguel County, New Mexico property tax
The median homeowner in San Miguel County, New Mexico pays $991 a year in property tax on a home worth $177,600, an effective rate of 0.56%. The national effective rate is 0.98%.
What the rate means here
At 0.56%, San Miguel County taxes property more lightly than the national 0.98%. With a median home at $177,600, that produces a bill of $991. Somebody still funds the schools, so it is worth knowing what a low-tax county collects instead.
It ranks #15 of 26 New Mexico counties by effective rate, against a statewide 0.72%, and #2,227 nationally. The state runs from 1.89% in McKinley County down to 0.33% in Taos County.
The median home costs 3.75 times the median household income of $47,400, close to the national 3.86. Incomes run below the national median, and house prices run below it too, which is what keeps the ratio ordinary. With 27,036 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
| San Miguel County | New Mexico | United States | |
|---|---|---|---|
| Effective property tax | 0.56% | 0.72% | 0.98% |
| Median tax bill | $991 | $1,669 | $2,969 |
| Median home value | $177,600 | $232,200 | $303,400 |
| Median gross rent | $774 | $1,021 | $1,348 |
| Median household income | $47,400 | $62,125 | $78,538 |
| Home price to income | 3.75× | 3.74× | 3.86× |
| Rent as share of income | 19.59% | 19.72% | 20.6% |
| Owner-occupied | 73.26% | 69.34% | 65.02% |
Source: U.S. Census Bureau, American Community Survey 2023 five-year estimates. Population 27,036.
Nearby counties of similar size
| County | Rate | Median bill | Home value |
|---|---|---|---|
| Cibola County | 0.82% | $983 | $120,000 |
| Grant County | 0.46% | $756 | $164,400 |
| Luna County | 0.58% | $648 | $112,500 |
| Lincoln County | 0.54% | $1,143 | $212,200 |
| Taos County | 0.33% | $1,164 | $354,000 |
San Miguel County property tax: common questions
What is the property tax rate in San Miguel County, New Mexico?
The effective rate is 0.56% of home value, from a median tax bill of $991 against a median home value of $177,600. That is 0.42 points below the national 0.98%.
How much is property tax on a $400,000 home in San Miguel County?
Roughly $2,240 a year at the county effective rate of 0.56%.
Is San Miguel County expensive compared with the rest of New Mexico?
It ranks #15 of 26 New Mexico counties by effective property tax rate, and #2227 of 2,826 nationally. That is 0.16 points below the New Mexico average of 0.72%.
What does housing cost in San Miguel County?
The median home is worth $177,600 and median gross rent is $774 a month. Median household income is $47,400, which puts the home at 3.75 times annual income and rent at 19.59% of it.