87036 Property Tax Rate

Property owners in ZIP code 87036 (Mountainair, New Mexico) pay a median of $528/year in property taxes on homes valued at $147,700. This translates to an effective tax rate of 0.36%, which is 39% below the New Mexico state average of 0.59%.

The monthly property tax burden for a median-valued home in 87036 is approximately $44, which factors into escrow payments on mortgages. This ZIP code is located within Torrance County. This is $614 less than the New Mexico average of $1,142/year.

Compared to similar ZIP codes in New Mexico, 87036 has higher property taxes. ZIP codes with similar effective rates include 87941 (0.36%) and 87537 (0.35%).

In Mountainair, property taxes represent approximately 1.1% of the median household income of $49,338, providing context for the relative tax burden on homeowners in this area.

New Mexico imposes no statewide property tax cap; your property will be reassessed at market value upon purchase in Torrance County. Torrance County offers Homestead Exemptions and Senior/Disabled Exemptions for primary residents — submit your application to the Torrance County Assessor's office with proof of residency and age/disability status. Contact the Torrance County Assessor immediately after closing to confirm the application deadline and ensure your exemption is recorded before the tax year assessment is finalized.