Torrance County, New Mexico Property Taxes
Census Bureau ACS property tax data for New Mexico. Population: 4,715.
The median annual property tax in Torrance County is $677, which is 35% lower than the New Mexico state average and 65% below the national average. The effective tax rate is 0.47% on a median home value of $145,100. Property taxes represent 1.5% of the median household income in this county.
Median Annual Tax
$677
-35% vs State
-65% vs US
Median Home Value
$145,100
-20% vs State
-31% vs US
Effective Tax Rate
0.47%
-22% vs State
-51% vs US
With vs Without Mortgage
With Mortgage
$880
$73/mo
Without Mortgage
$528
$44/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 | $677 -5.4% | 0.47% |
| 2022 | $716 +4.1% | 0.54% |
| 2021 | $688 -5.0% | 0.57% |
| 2020 | $724 -2.6% | 0.63% |
| 2019 | $743 | 0.65% |
Tax Burden
Tax-to-Income Ratio
1.5%
of median household income
Median Income
$46,250
per year
Monthly Tax
$56
per month
Other Counties in New Mexico
Los Alamos County
Tax: $2,591/yr Rate: 0.57%
Quay County
Tax: $507/yr Rate: 0.62%
McKinley County
Tax: $1,362/yr Rate: 1.89%
Lincoln County
Tax: $1,143/yr Rate: 0.54%
San Juan County
Tax: $1,249/yr Rate: 0.67%
Hidalgo County
Tax: $526/yr Rate: 0.46%
Frequently Asked Questions
What is the average property tax in Torrance County, New Mexico? ▼
The median annual property tax in Torrance County is $677 based on the most recent Census Bureau American Community Survey data. The effective tax rate is 0.47% on a median home value of $145,100.
How does Torrance County property tax compare to the national average? ▼
Property taxes in Torrance County are 65% below the national average of $1,923. The effective rate of 0.47% compares to 0.95% nationally.
Does having a mortgage affect property taxes in Torrance County? ▼
In Torrance County, homeowners with a mortgage pay a median of $880 in annual property taxes, while homeowners without a mortgage pay $528. This difference often reflects the value of homes rather than different tax rates.
What percentage of income goes to property taxes in Torrance County? ▼
Property taxes in Torrance County represent approximately 1.5% of the median household income of $46,250. 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.