87321 Property Tax Rate

Property owners in ZIP code 87321 (Ramah, New Mexico) pay a median of $1,437/year in property taxes on homes valued at $160,200. This translates to an effective tax rate of 0.90%, which is 52% above the New Mexico state average of 0.59%.

The monthly property tax burden for a median-valued home in 87321 is approximately $120, which factors into escrow payments on mortgages. This ZIP code is located within Cibola County. This is $295 more than the New Mexico average of $1,142/year.

Compared to similar ZIP codes in New Mexico, 87321 has lower property taxes. ZIP codes with similar effective rates include 87122 (0.90%) and 87107 (0.90%).

In Ramah, property taxes represent approximately 2.4% of the median household income of $60,345, providing context for the relative tax burden on homeowners in this area.

New Mexico reassesses property at sale price with no statewide cap; Cibola County will establish a new assessed value based on your purchase price. Cibola County provides Homestead and Senior Exemptions for primary residences — apply with the Cibola County Assessor's office with proof of residency and ownership. File your exemption application within 30 days of closing to ensure the exemption reduces your taxable value in the assessment year.