New Mexico's residential and commercial property taxes are among the lowest in the United States.

New Mexico property tax rates depend on property type and location. A site's location within a city, school district or unincorporated part of the county will influence the tax rates assessed, as will a residential or non-residential property classification.

For residential property, the tax rate in New Mexico ranges from $8 to $48 per $1,000 of net taxable value after exemptions are taken. In Grant County, this range is from a low of $12.95 per $1,000 of net taxable value after exemptions to a maximum of $18.21 per $1,000 of net taxable value after exemptions, so Grant County is on the mid- to low-end of the property tax scale compared to the rest of the state.

For non-residential property, the tax in New Mexico ranges from $11 to $48 per $1,000 of net taxable value. In Grant County, this range is from a low of $18.58 per $1,000 of net taxable value after exemptions to a max of $24.64 per $1,000 of net taxable value after exemptions, so the County is in the mid- to low-end of the commercial property tax scale compared to the rest of the state.

There are property tax exemptions for some categories of homes and businesses, including the family exemption. Also, for home assessments, the taxes to be paid are based on one-third of appraised value. A Silver City home owner of a home appraised at $90,000 would pay, for example, one-third of $90,000 multiplied by the appropriate tax rate, depending upon tax juridiction. As an example, this home owner might pay $30,000 x 0.014956, or about $450 per year.

This example is provided for reference only, and tax appraisals and tax rates are subject to change.