Socorro County, New Mexico Property Taxes
Census Bureau ACS property tax data for New Mexico. Population: 3,839.
The median annual property tax in Socorro County is $792, which is 24% lower than the New Mexico state average and 59% below the national average. The effective tax rate is 0.55% on a median home value of $143,200. Property taxes represent 1.7% of the median household income in this county.
Median Annual Tax
$792
-24% vs State
-59% vs US
Median Home Value
$143,200
-21% vs State
-32% vs US
Effective Tax Rate
0.55%
-8% vs State
-42% vs US
With vs Without Mortgage
With Mortgage
$1,303
$109/mo
Without Mortgage
$662
$55/mo
Homeowners with a mortgage typically own higher-valued properties, which can result in higher tax bills.
Property Tax History
| Year | Median Tax | Effective Rate |
|---|---|---|
| 2023 | $792 +13.0% | 0.55% |
| 2022 | $701 +0.7% | 0.53% |
| 2021 | $696 -5.6% | 0.62% |
| 2020 | $737 -4.4% | 0.63% |
| 2019 | $771 | 0.62% |
Tax Burden
Tax-to-Income Ratio
1.7%
of median household income
Median Income
$47,556
per year
Monthly Tax
$66
per month
Other Counties in New Mexico
Lincoln County
Tax: $1,143/yr Rate: 0.54%
Rio Arriba County
Tax: $1,000/yr Rate: 0.43%
San Miguel County
Tax: $991/yr Rate: 0.56%
Lea County
Tax: $824/yr Rate: 0.47%
Cibola County
Tax: $983/yr Rate: 0.82%
Eddy County
Tax: $995/yr Rate: 0.50%
Frequently Asked Questions
What is the average property tax in Socorro County, New Mexico? ▼
The median annual property tax in Socorro County is $792 based on the most recent Census Bureau American Community Survey data. The effective tax rate is 0.55% on a median home value of $143,200.
How does Socorro County property tax compare to the national average? ▼
Property taxes in Socorro County are 59% below the national average of $1,923. The effective rate of 0.55% compares to 0.95% nationally.
Does having a mortgage affect property taxes in Socorro County? ▼
In Socorro County, homeowners with a mortgage pay a median of $1,303 in annual property taxes, while homeowners without a mortgage pay $662. This difference often reflects the value of homes rather than different tax rates.
What percentage of income goes to property taxes in Socorro County? ▼
Property taxes in Socorro County represent approximately 1.7% of the median household income of $47,556. The national benchmark is generally 2-4% of household income.
Explore More Data
Data source: U.S. Census Bureau, American Community Survey 5-Year Estimates. Property tax data reflects median amounts paid by homeowners. Effective rates are calculated as median tax divided by median home value.