Tax Code Reference
Effective Rate: 0.63%
New Mexico
Property Tax Code
New Mexico Statutes — Chapter 7 (Taxation) — Complete reference for assessment procedures, appeal rights, exemptions, and key statutes governing property taxation in New Mexico.
Quick Facts
Assessment Authority
County Assessor
Appeal Board
County Valuation Protests Board
Assessment Ratio
33.33% of market value (residential)
Assessment Cycle
Annual
Appeal Deadline
The later of April 1 or 30 days after the Notice of Value was mailed — petition filed with the county ASSESSOR
Assessment System
Governing CodeNew Mexico Statutes — Chapter 7 (Taxation)
Assessment AuthorityCounty Assessor
Assessment Ratio33.33% of market value (residential)
Assessment CycleAnnual
Appeal System
Appeal BoardCounty Valuation Protests Board / Taxation and Revenue Department
Appeal DeadlineThe later of April 1 or 30 days after the Notice of Value was mailed — petition filed with the county ASSESSOR
Key Notes for New Mexico
New Mexico assesses residential property at 33.33% of market value. The protest must be filed within 30 days of the notice of valuation.
Hearing Types Available
1
County Assessor review2
Valuation Protests Board3
District CourtValid Grounds for Appeal
Overvaluation
Incorrect classification
Denial of exemption