Valencia County, NM Property Tax Search
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In-depth Valencia County, NM Property Tax Information
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See detailed property tax information from the sample report for 1026 Molina Rd, Valencia County, NM
Property Tax Calculation
Property taxes in New Mexico are levied and collected locally by the counties. The Assessor values all tangible property for property tax purposes. Properties valued by the property tax code are: all real property, manufactured homes, business personal property and livestock.
Market Value
Market value is the amount a property would sell for in a competitive and open market, presuming that both buyer and seller are knowledgeable about the sale, allow sufficient time for it, and are not affected by undue pressures (e.g. foreclosures and bankruptcy).
Assessed Value
The Assessor is responsible for establishing the assessed value of properties. They are calculated by multiplying a property's market value by a predetermined ratio. This predetermined ratio is currently set to 1/3 of a property's market value.
Exemptions and Taxable Values
Taxable value represents the assessed value less any tax deductions that apply. Under New Mexico property tax law, there are two categories of individual property taxation exemptions, Head of Family and Veterans, and several categories of institutional and governmental exemptions.
Property Tax
Base tax is calculated by multiplying the assesssed value by the millage rates applicable to it and is an estimate of what an owner not benefiting of any exemptions would pay. The rates are expressed as millages (i.e the actual rates multiplied by 1000).
Current tax is calculated by multiplying the net taxable value by the applicable tax rate and represents the amount the current owner pays.
Actual taxes might differ from the figures displayed here due to various abatement and financial assistance programs or to non ad-valorem taxes. For more information please visit the web pages of Valencia County's Assessor, Treasurer or look up this property's current valuation and tax situation.
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Valencia County Stats for Property Taxes
For an easier overview of the difference in tax rates between counties, explore the charts below. You can also get additional insights on median home values, income levels and homeownership rates in your area.
Effective tax rate (%)
0.7% of Assessed Home Value
0.74% of Assessed Home Value
1.02% of Assessed Home Value
Median real estate taxes paid
$1,296
$1,588
$2,869
Median home value
$184,400
$216,000
$281,900
Median income
$56,246
$58,722
$75,149
Owner occupied housing (%)
82.7%
68.7%
64.8%
Renter occupied housing (%)
17.3%
31.3%
35.2%
Frequently Asked Questions on Property Taxes
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