FAQs

How much property tax will I have to pay?: Taxes are based on the current and correct market value of your residence and land, vacant land, commercial property, or other taxable property. The amount you pay is determined by multiplying the mil levy rate against the net taxable value of your property. The net taxable value is one third of the total assessed value of your property minus valid exemptions such as Head of Family (2000) or Veteran’s exemptions ($4,000 each).

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Assessor's Office

1. How are the changes in the value of my property determined?: The Assessor is required by state law to value property at 100 percent of current market value as determined by sales of comparable property (7-36-15 NMSA 1978).

2. How much property tax will I have to pay?: Taxes are based on the current and correct market value of your residence and land, vacant land, commercial property, or other taxable property. The amount you pay is determined by multiplying the mil levy rate against the net taxable value of your property. The net taxable value is one third of the total assessed value of your property minus valid exemptions such as Head of Family (2000) or Veteran’s exemptions ($4,000 each).

3. I am new to New Mexico and have purchased a home. Do I have to pay property taxes in New Mexico?: Yes! The property owner is responsible for recording property transfer documents with the County Clerk and for notifying the County Assessor purchases and transfers of ownership. Contacting the Assessor should ensure that you are correctly assessed as the current owner with a valid address where you can receive valuation notices and tax bills. If you have moved recently please contact the County Assessor’s Office and give them your new address.

4. I recently moved. Who should be notified of my change in address?: The Assessor’s Office will accept mailing address changes in person or through the mail. The Assessor provides a change of address form with the Notice of Value. If you do not receive a tax bill, be sure to contact the Assessor and verify the address on the tax roll.

5. What are the property tax rates in New Mexico?: Composite mil rates by area as of 2007 ranged from $24.775 to $41.285 per $1,000 of net taxable value of your property, depending on the type and location of the property.

6. What does property valuation mean?: The valuation set for property by the County Assessor is an estimate of the market value of your property, i.e., your residence, vacant land, commercial property, or other taxable property.

7. What is the Notice of Valuation?: Once a year you receive a Notice of Value from the Assessor informing you of the value of your property for that year. It is an advance notice of what the Assessor has determined your property was worth two years earlier. The Notice of Value is not a tax bill. The treasurer issues the tax bill each November 1.

8. What are other dates regarding my property valuation?: Important dates in property valuation are outlined on the Assessor's Timeline page.

9. When is the Notice of Value mailed?: The Assessor is required to mail one Notice of Value for each assessed property by April 1, of each year. (See: 7-38-20 NMSA 1978).