Everything You Need to Know About Property Taxes in Albuquerque

Whether you're buying your first home or you've owned property for years, understanding how property taxes work in Albuquerque is essential for planning your budget and protecting your investment. New Mexico’s tax system offers unique benefits—but it’s also important to know what to expect each year.

How Property Taxes Work in Albuquerque

In Albuquerque and the rest of Bernalillo County, property taxes are based on the assessed value of your home, which is usually one-third of the market value. For example, if your home is worth $300,000, the taxable value might be around $100,000.

The county then applies a mill rate (tax rate per $1,000 of taxable value), which is used to calculate your annual bill. That money helps fund local schools, emergency services, roads, and libraries.

What’s the Current Property Tax Rate?

As of 2025, Bernalillo County’s average property tax rate is approximately 1.05% of a home’s assessed value. That’s lower than the national average—and one reason many homeowners find Albuquerque an affordable place to live.

For example:

• A $250,000 home may generate around $875–$1,100/year in property taxes, depending on exemptions and exact location.

 When Are Property Taxes Due?

Property taxes in Albuquerque are paid twice a year:

• First half due: November 10

• Second half due: April 10

Late payments may incur penalties and interest, so mark your calendar or ask your mortgage servicer if taxes are escrowed.

What Exemptions or Breaks Are Available?

New Mexico offers several property tax exemptions that can lower your bill:

• Head of Household Exemption: $2,000 off assessed value

• Veteran and Disabled Veteran Exemptions

• Senior and Low-Income Tax Rebate Programs

• Property Value Freeze for Seniors (65+) and Disabled Persons if income qualifications are met

To qualify, homeowners must apply through the Bernalillo County Assessor’s Office.

 Property Taxes & Real Estate Transactions

When buying or selling a home in Albuquerque, property taxes are prorated at closing—meaning the buyer and seller each pay their share for the year.

Sellers should provide recent tax bills to buyers for transparency. Buyers should consider taxes when budgeting for monthly costs.

Will Property Taxes Go Up?

Property values in Albuquerque have risen steadily over the past few years. While tax rates may remain steady, rising home values could mean slightly higher tax bills over time. However, New Mexico caps valuation increases at 3% annually for most residential properties, helping to protect homeowners from sudden spikes.

 Get Local Guidance from a Trusted Expert

Property taxes may not be the most exciting part of homeownership—but they’re one of the most important. Whether you're thinking about buying, selling, or just want to better understand how taxes affect your bottom line, having the right support matters.

Anita Mora, a trusted and experienced Albuquerque Realtor, provides clients with in-depth local knowledge—from property taxes and neighborhood trends to the full buying or selling process. With years of experience in New Mexico real estate, she helps her clients feel confident and informed at every step.

Real Estate FAQs

1. How do property taxes in Albuquerque compare to other New Mexico cities?
Albuquerque’s property tax rate is relatively moderate compared to other New Mexico cities. While Santa Fe may have slightly higher average rates due to home values, Albuquerque remains affordable, with most homeowners paying around 1.05% of assessed value annually.

2. Do property taxes differ by neighborhood in Albuquerque?
Yes, taxes can vary slightly depending on the neighborhood due to different mill levies and school districts. For example, areas like Northeast Heights and North Valley may have different tax obligations than newer communities in Ventana Ranch or Mesa del Sol.

3. Can I estimate my property taxes when buying a home in Albuquerque?
Absolutely. Before buying, your real estate agent can provide recent tax records and help you estimate costs based on the current assessed value. It’s also smart to contact the Bernalillo County Assessor’s Office or use their online calculator for a more accurate figure.