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How Much is Property Tax on a $800,000 Home in New Mexico?
Property tax on a $800,000 home in New Mexico typically ranges from $2,400 to $9,600 per year (roughly $200 to $800/month), depending on the county. Based on the statewide average effective rate of 0.67%, you can expect to pay around $5,360/year, or $447/month. New Mexico has relatively low property taxes; residential property is assessed at a fraction of market value, and there are annual assessment increase limitations.