Santa Fe County, New Mexico property tax
The median homeowner in Santa Fe County, New Mexico pays $2,110 a year in property tax on a home worth $416,900, an effective rate of 0.51%. The national effective rate is 0.98%.
What the rate means here
At 0.51%, Santa Fe County taxes property more lightly than the national 0.98%. A low rate on an expensive house is not the bargain it looks like. The median bill is still $2,110, because 0.51% of $416,900 is not a small number.
It ranks #19 of 26 New Mexico counties by effective rate, against a statewide 0.72%, and #2,391 nationally. The state runs from 1.89% in McKinley County down to 0.33% in Taos County.
The median home costs 5.58 times the median household income of $74,689, against 3.86 nationally, so housing absorbs an unusually large share of what people here earn. Renters pay 21.18% of median income in gross rent. The county has 155,175 residents, which is small enough that the medians describe a reasonably coherent market.
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
| Santa Fe County | New Mexico | United States | |
|---|---|---|---|
| Effective property tax | 0.51% | 0.72% | 0.98% |
| Median tax bill | $2,110 | $1,669 | $2,969 |
| Median home value | $416,900 | $232,200 | $303,400 |
| Median gross rent | $1,318 | $1,021 | $1,348 |
| Median household income | $74,689 | $62,125 | $78,538 |
| Home price to income | 5.58× | 3.74× | 3.86× |
| Rent as share of income | 21.18% | 19.72% | 20.6% |
| Owner-occupied | 70.62% | 69.34% | 65.02% |
Source: U.S. Census Bureau, American Community Survey 2023 five-year estimates. Population 155,175.
Nearby counties of similar size
| County | Rate | Median bill | Home value |
|---|---|---|---|
| Sandoval County | 0.76% | $2,147 | $282,300 |
| San Juan County | 0.67% | $1,249 | $185,100 |
| Doña Ana County | 0.68% | $1,404 | $205,400 |
| Valencia County | 0.66% | $1,365 | $206,800 |
| Lea County | 0.47% | $824 | $176,000 |
Santa Fe County property tax: common questions
What is the property tax rate in Santa Fe County, New Mexico?
The effective rate is 0.51% of home value, from a median tax bill of $2,110 against a median home value of $416,900. That is 0.47 points below the national 0.98%.
How much is property tax on a $400,000 home in Santa Fe County?
Roughly $2,040 a year at the county effective rate of 0.51%.
Is Santa Fe County expensive compared with the rest of New Mexico?
It ranks #19 of 26 New Mexico counties by effective property tax rate, and #2391 of 2,826 nationally. That is 0.21 points below the New Mexico average of 0.72%.
What does housing cost in Santa Fe County?
The median home is worth $416,900 and median gross rent is $1,318 a month. Median household income is $74,689, which puts the home at 5.58 times annual income and rent at 21.18% of it.