Socorro County Tax Information
How are Property Taxes Calculated in Socorro County?
Property taxes in Socorro County, New Mexico are calculated based on your property's assessed value multiplied by the local tax rate. The Socorro County effective tax rate of 0.630% is applied to determine your annual property tax obligation.
Assessment Process
The Socorro County Property Appraiser's office conducts regular assessments to determine the market value of properties. This assessed value serves as the basis for calculating your property taxes. With a median home value of $117,900, Socorro County property owners typically pay around $737 annually in property taxes.
Tax Exemptions and Relief Programs
Socorro County offers various exemptions and relief programs that may reduce your property tax burden. Common exemptions include homestead exemptions for primary residences, senior citizen exemptions, veteran exemptions, and disability exemptions. Contact the Socorro County Tax Assessor's office to learn about programs you may qualify for.