Albuquerque, NM variant. This is a Albuquerque, NM-specific version of the Property Tax Calculator, using pre-defined local figures (tax rates, median home and income values, and typical regional costs). For the full formula, methodology, and FAQ, open the main Property Tax Calculator.
Albuquerque property tax runs about 0.85% of value - roughly $2,720/year on the $320,000 median home.
Property tax in Albuquerque
Tax = assessed value × local rate. The 0.85% effective rate captures Albuquerque's blend of county, city, and school levies.
On the $320,000 median home that's $2,720/year ($227/month), usually escrowed with your mortgage.
About Albuquerque, NM
Albuquerque applies New Mexico's gross receipts tax, which functions much like a sales tax on goods and services.
Albuquerque's home prices remain moderate relative to the national market.
Albuquerque's economy includes government, national laboratories, and healthcare, with a cost of living below the national average.
Worked example: $320,000 home
$320,000 × 0.85% = $2,720/year. A $600,000 Albuquerque home would owe about $5,100.
Quick reference
- Median home value: $320,000
- Median rent: $1,300/mo
- Median household income: $64,254
- Local sales tax: 7.875%
- Effective property tax rate: 0.85%
- Cost of living index: 92 (US avg = 100)
Frequently Asked Questions
What is the property tax rate in Albuquerque?
About 0.85% of market value per year.
How much property tax on a median Albuquerque home?
Roughly $2,720 per year.