NMSA § 7-37-3

New Mexico Real Estate Calculators

New Mexico's 33⅓% assessment ratio plus the § 7-36-21.3 3% residential Yield Cap (the state's Prop-13 analog), § 7-37-5.1 Head-of-Household exemption, § 7-37-5.6 100% disabled-veteran exemption, and § 7-37-7.1 senior valuation freeze.

Anchored to: NMSA §§ 7-37-3, 7-36-21.3, 7-37-5.1, 7-37-7.1

1 calculator live. Reviewed against current statute and regulation. Last updated 2026-05-16.

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NMSA 1978 § 7-37-3 (1/3 assessment ratio)

New Mexico Property Tax Calculator

Compute a New Mexico property's annual tax bill under NMSA 1978 § 7-37-3 (assessment at one-third of full value) and § 7-36-21.3 (the residential 3% yield cap — New Mexico's analog to California Proposition 13, but at 3% per year instead of 2%). Models the § 7-37-5.1 Head-of-Household exemption ($2,000 reduction in taxable value), § 7-37-5.5 Veterans Exemption ($4,000), § 7-37-5.6 100% Disabled Veteran full exemption, § 7-37-7.1 Senior Valuation Freeze (age 65+ at the 2026 income limit of $34,400), and county mill levies for Bernalillo (Albuquerque), Doña Ana (Las Cruces), Sandoval (Rio Rancho), Santa Fe, and the major oil-county and rural jurisdictions.

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New Mexico Property Tax Calculator
Compute a New Mexico property's annual tax bill under NMSA 1978 § 7-37-3 (assessment at one-third of full value) and § 7-36-21.3 (the residential 3% yield cap — New Mexico's analog to California Proposition 13, but at 3% per year instead of 2%). Models the § 7-37-5.1 Head-of-Household exemption ($2,000 reduction in taxable value), § 7-37-5.5 Veterans Exemption ($4,000), § 7-37-5.6 100% Disabled Veteran full exemption, § 7-37-7.1 Senior Valuation Freeze (age 65+ at the 2026 income limit of $34,400), and county mill levies for Bernalillo (Albuquerque), Doña Ana (Las Cruces), Sandoval (Rio Rancho), Santa Fe, and the major oil-county and rural jurisdictions.

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Every YMYL calculator is reviewed quarterly and after every legislative session in the jurisdiction it covers. Citations are link-validated monthly against the relevant statute and regulation websites. The methodology page documents the discipline.

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