Farmington, San Juan County, New Mexico Property Taxes

Name: Property Tax Bills Across Farmington, San Juan County, New Mexico
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Farmington, NM effective property tax rate: 0.81%, significantly lower than the national median of 1.02%, but lower than the New Mexico state median of 0.86%.
Median Farmington, NM home value: $119,664
Median annual Farmington, NM tax bill: $970, $1,430 lower than the national median property tax bill of $2,400.

How are property taxes in San Juan calculated?

Property taxes in Farmington, NM are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Farmington’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Farmington, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Farmington, San Juan County, New Mexico Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.81%

Estimate Property Tax Bill

$969

$899

Ownwell’s Farmington Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Farmington with just two data points. By entering your property's estimated assessed value, our calculator applies Farmington’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in San Juan County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Farmington, San Juan County, New Mexico

Local government entities set tax rates, which can vary widely within a state. This variation is due to the fact that each county annually estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. In Farmington, located in San Juan County, the effective property tax rate is reflective of this process. Compared to other cities in New Mexico and the national median, Farmington's rate offers insight into how local property tax rates can differ even within the same state. Understanding these differences is crucial for property owners who seek to manage their tax liabilities effectively. By comparing Farmington’s property tax rate to both state and national medians, property owners can gain a clearer picture of where they stand and potentially identify opportunities for tax appeals or exemptions.

Property Tax Rates Across Farmington, San Juan County, New Mexico

Source: Ownwell

0.74%

0.82%

0.90%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Farmington Tax Rate

0.81%

Median Effective San Juan County Tax Rate

0.83%

Median Effective New Mexico Tax Rate

0.86%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Farmington, San Juan County, New Mexico

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
87401	0.73%	0.77%	0.80%	0.83%	0.83%
87402	0.78%	0.80%	0.83%	0.83%	0.83%

Source: Ownwell

Property Tax Assessment Values Across Farmington, San Juan County, New Mexico

When examining property taxes in Farmington, NM, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The San Juan County assessor estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill. In San Juan County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Farmington. For example, the median home price in Farmington is $119,664, with tax bills ranging significantly across the county. Zip code 87402 has the highest median home price at $178,603.

Property Tax Assessment Values Across Farmington, San Juan County, New Mexico

Source: Ownwell

$39,630

$109,117

$178,603

Median Farmington Market Value

$119,664

Median San Juan County Market Value

$93,508

Median New Mexico Market Value

$121,540

Median United States Market Value

$235,294

Property Tax Assessment Values Across Farmington, San Juan County, New Mexico

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
87401	$5,773	$26,708	$101,843	$174,772	$253,126
87402	$32,453	$112,433	$178,603	$277,022	$382,392

Source: Ownwell

Property Tax Bills Across Farmington, San Juan County, New Mexico

In Farmington, located in San Juan County, NM, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Farmington homeowners experience a range in tax bills, from the 25th percentile at $238 to the 90th percentile reaching $2,369. The median home price in Farmington is $119,664, and the highest median tax bill in the area is $1,470 in the 87402 zip code, while the lowest is $810 in the 87401 zip code. Compared to the national median property tax bill of $2,400, Farmington's tax bills can be significantly lower, offering potential savings for homeowners. However, understanding and navigating the property tax system can be complex. This is where Ownwell steps in, providing expert property tax appeal and exemption services to help homeowners potentially lower their tax bills, ensuring they only pay their fair share.

Property Tax Bills Across Farmington, San Juan County, New Mexico

Source: Ownwell

$277

$874

$1,470

Median Farmington Tax Bill

$970

Median San Juan County Tax Bill

$761

Median New Mexico Tax Bill

$1,192

Median United States Tax Bill

$2,400

Property Tax Bills Across Farmington, San Juan County, New Mexico

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
87401	$34	$190	$810	$1,438	$2,073
87402	$222	$917	$1,470	$2,303	$3,182

Source: Ownwell