Socorro County, New Mexico Property Taxes
Median Socorro County effective property tax rate: 0.98%, slightly lower than the national median of 1.02%. Median Socorro County home value: $10,114. Median annual Socorro County tax bill: $102, $2,298 lower than the national median property tax bill of $2,400.
How are property taxes in Socorro County calculated?
Property taxes in Socorro County 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 your county's property tax system, exemptions, and reduction opportunities can lead to significant savings. Whether you live in Socorro or another part of Socorro County, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Socorro County, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.98%
Estimate Property Tax Bill
$99
$92
Ownwell’s Socorro County Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Socorro County with just two data points.
By entering your property's estimated assessed value, our calculator applies Socorro County’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 more 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 Socorro County.
For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Socorro County, New Mexico
Local government entities determine tax rates, which can differ significantly within a state. Each year, counties calculate their necessary budget to provide essential services and divide this by the total value of all taxable property in their area. This calculation results in the property tax rate. While votes and laws are part of the process, this is essentially how it works annually.
Socorro County's effective property tax rate is slightly below the national median of 1.02%, reflecting the diverse nature of tax rates across different regions. Within the state, Socorro County's rate is among the lowest, with San Antonio having the lowest rate at 0.89% and Socorro city itself having the highest at 1.07%. This variability highlights the importance of understanding local tax dynamics, as they can have a significant impact on property owners. Comparing Socorro County's rate with other counties or the national median can provide valuable insights into how local property taxes might affect your finances. Understanding these differences can help property owners make informed decisions about their investments and potential tax liabilities.
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 Socorro County Tax Rate
0.98%
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 New Mexico Tax Rate
0.86%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Socorro County, New Mexico
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bosque | 0.98% | 0.98% | 0.98% | 0.98% | 1.06% |
| La Joya | 0.98% | 0.98% | 0.98% | 0.98% | 0.98% |
| Lemitar | 0.89% | 0.89% | 0.89% | 0.89% | 1.07% |
| Magdalena | 0.89% | 0.91% | 0.92% | 0.94% | 0.96% |
| Polvadera | 0.89% | 0.89% | 0.89% | 0.89% | 0.89% |
| San Acacia | 0.89% | 0.89% | 0.89% | 0.89% | 0.89% |
| San Antonio | 0.89% | 0.89% | 0.89% | 0.89% | 0.91% |
| Socorro | 0.89% | 1.06% | 1.07% | 1.07% | 1.07% |
| Veguita | 0.98% | 0.98% | 0.98% | 0.98% | 1.06% |
| Claunch | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Socorro County, New Mexico
When examining property taxes in Socorro County, 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 Socorro County Assessor's Office 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.
Assessment notices: In Socorro 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 Socorro County. For example, the median tax bill in Socorro County is $235, with tax bills ranging significantly across the county. La Joya has the highest median home price at $23,960.
Median Socorro County Market Value
$10,114
Median New Mexico Market Value
$121,540
Median United States Market Value
$235,294
Property Tax Assessment Values Across Socorro County, New Mexico
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bosque | $2,682 | $4,699 | $12,914 | $32,759 | $75,331 |
| La Joya | $4,497 | $10,224 | $23,960 | $34,648 | $75,497 |
| Lemitar | $2,011 | $2,682 | $7,464 | $18,622 | $39,326 |
| Magdalena | $3,310 | $8,614 | $19,035 | $51,470 | $125,058 |
| Polvadera | $4,769 | $6,810 | $9,722 | $13,932 | $25,749 |
| San Acacia | $2,738 | $8,008 | $19,169 | $39,679 | $76,300 |
| San Antonio | $5,130 | $8,446 | $14,662 | $37,863 | $77,728 |
| Socorro | $2,942 | $4,839 | $9,770 | $21,965 | $77,292 |
| Veguita | $2,682 | $4,699 | $10,294 | $20,547 | $52,270 |
| Claunch | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Socorro County, New Mexico
Median Socorro County Tax Bill
$102
Median New Mexico Tax Bill
$1,192
Median United States Tax Bill
$2,400
Property Tax Bills Across Socorro County, New Mexico
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bosque | $26 | $46 | $130 | $322 | $738 |
| La Joya | $44 | $100 | $235 | $339 | $743 |
| Lemitar | $18 | $24 | $71 | $178 | $357 |
| Magdalena | $35 | $87 | $180 | $443 | $1,169 |
| Polvadera | $43 | $61 | $87 | $123 | $230 |
| San Acacia | $24 | $71 | $171 | $356 | $681 |
| San Antonio | $46 | $83 | $141 | $338 | $694 |
| Socorro | $30 | $50 | $101 | $225 | $817 |
| Veguita | $26 | $46 | $101 | $205 | $528 |
| Claunch | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell