Annual Tax
$1,176
Effective Rate
Monthly Tax
$98
Assessed Value
$64,236
Taxable Value
$62,236
Summary
A $192,727 home in New Mexico has an estimated annual property tax of $1,176 (0.63% effective rate), with homestead exemption applied.
New Mexico's 0.63% effective property tax rate ranks #34 nationally (1 = highest).
New Mexico offers a $2,000 homestead exemption off assessed value. This saves you approximately $38/year.
New Mexico assesses property at 33.3% of market value.
Your estimated monthly property tax is $98.
Property Tax Calculation Breakdown
7 rows
| Step | Amount |
|---|---|
| Home Market Value | $192,727 |
| × Assessment Ratio (33.3%) | $64,236 |
| − Homestead Exemption | −$2,000 |
| = Taxable Value | $62,236 |
| × Tax Rate (1.8902%) | |
| = Annual Property Tax | $1,176 |
| ÷ 12 = Monthly Tax | $98 |
Property tax rates are statewide average effective rates based on 2025 data from the Tax Foundation and ACS. Actual taxes vary significantly by county, city, and school district. Contact your local assessor for exact figures. Not tax advice.