87506 Property Tax Rate
Santa Fe, New Mexico · Part of Santa Fe County
Effective Tax Rate
0.52%
140.6% above state avgMedian Annual Tax
$2,748
$229/mo escrow
Estimate Your Tax
Annual Tax
$2,748
Monthly
$229
Eff. Rate
0.52%
Buyer decision brief
What ZIP 87506 means for your housing budget
Use this ZIP page to compare recurring tax burden before you compare listing prices. The numbers below are Census ZCTA estimates, so they are strongest for neighborhood comparison and weakest for parcel-specific tax planning.
Monthly escrow signal
$229/mo
Based on median annual tax paid
State context
0.06 percentage points below the New Mexico average
New Mexico average: 0.59%
Data confidence
High confidenceThe Census margin of error is $263, about 10% of the median tax estimate.
Verify before you offer
- Confirm parcel assessed value with Santa Fe County assessor.
- Check homestead, senior, veteran, and disability exemptions.
- Ask whether purchase triggers reassessment or value-cap reset.
- Review school district and special assessment boundaries.
Lower-rate similar ZIPs
This is informational content, not tax, legal, or mortgage advice. Local assessor records remain the source of truth for a specific property.
Data confidence ledger
Can you trust ZIP 87506 for comparison?
ACS vintage
2019-2023 ACS 5-Year Estimates
Five-year Census ZCTA estimates.
ZCTA caveat
Census area, not parcel boundary
USPS ZIP routes and taxing districts can differ inside the same area.
Field completeness
3/3 required fields
Median tax, home value, and derived rate are present.
MOE status
Strong ACS confidence
$263 tax MOE, 10% of the median tax estimate.
Last site refresh
March 10, 2026
Dataset and page-quality audit run locally before publication.
County fallback
County advisory available
Santa Fe County is used for assessor verification and broader context.
Tax bill anatomy
What can change your actual bill in ZIP 87506
Use the ZIP estimate to compare neighborhoods, then verify these parcel-level inputs before relying on a payment estimate.
Assessed value
The ZCTA median home value is $523,600, but your bill starts with the local assessed value for a specific parcel.
Effective rate
The displayed rate is 0.52%, derived from median tax paid divided by median home value.
Exemptions
Homestead, senior, veteran, disability, and local exemptions can reduce taxable value. Confirm eligibility before estimating escrow.
Reassessment
A purchase can change assessed value depending on New Mexico and county rules. Ask how sale price affects the next assessment cycle.
Escrow impact
The median tax paid in this ZCTA equals about $229 per month before insurance, HOA dues, or special assessments.
Assessor verification
Santa Fe County assessor or tax collector records are the source of truth for parcel taxes, appeal windows, and exemptions.
How ZIP 87506 Compares
Median Annual Property Tax
ZIP 87506
0.52%
Effective rate
New Mexico Avg
0.59%
Effective rate
National Avg
1.10%
Effective rate
State Ranking
Property Tax Rank in New Mexico
Lower than 52% of ZIP codes in New Mexico(48th percentile, 227 ZIPs compared)
Property Tax Analysis
Property Tax Insights for ZIP 87506
Property owners in ZIP code 87506 (Santa Fe, New Mexico) pay a median of $2,748/year in property taxes on homes valued at $523,600. This translates to an effective tax rate of 0.52%, which is 11% below the New Mexico state average of 0.59%.
The monthly property tax burden for a median-valued home in 87506 is approximately $229, which factors into escrow payments on mortgages. This ZIP code is located within Santa Fe County. This is $1,606 more than the New Mexico average of $1,142/year.
Compared to similar ZIP codes in New Mexico, 87506 has higher property taxes. ZIP codes with similar effective rates include 87041 (0.52%) and 87710 (0.52%).
In Santa Fe, property taxes represent approximately 3.0% of the median household income of $90,504, providing context for the relative tax burden on homeowners in this area.
New Mexico reassesses property at market value upon sale with no statewide cap; your assessed value will reset to the purchase price in Santa Fe County. Santa Fe County provides a Homestead Exemption (exempting a portion of assessed value for primary residences) and Senior/Disabled Exemptions — submit applications to the Santa Fe County Assessor within 30 days of closing. Contact the Santa Fe County Assessor's office to verify current exemption amounts and file your claim before the tax year closes to avoid paying full tax on the purchase price.
Frequently Asked Questions
What is the property tax rate in ZIP code 87506?
How much are property taxes in Santa Fe, NM (87506)?
How does ZIP 87506 compare to the New Mexico average?
What is the median home value in ZIP 87506?
What county is ZIP code 87506 in?
Margin of Error
The median property tax estimate for this ZIP code has a margin of error of ±$263. ZCTA-level data has wider margins than county-level estimates due to smaller sample sizes.
County-Level Data
ZIP code 87506 is part of Santa Fe County, New Mexico. View the full county profile for broader context and more data.
View Santa Fe County on TaxByCounty →Explore Santa Fe, NM
View all 5 ZIP codes in Santa Fe with property tax comparisons.
View Santa Fe Property Tax Rates →Why compare these ZIPs?
Better comparison set for ZIP 87506
Each ZIP highlights a homebuyer tradeoff: lower rate, stronger value context, shared county rules, city boundary changes, or nearby missing data.
87501
Santa Fe, NM
0.09 percentage points lower than ZIP 87506.
Rate
0.44%
Tax
$2,831
Quality
101
87507
Santa Fe, NM
0.04 percentage points lower than ZIP 87506.
Rate
0.48%
Tax
$1,616
Quality
101
87508
Santa Fe, NM
0.01 percentage points lower than ZIP 87506.
Rate
0.52%
Tax
$2,729
Quality
101
87505
Santa Fe, NM
0.01 percentage points lower than ZIP 87506.
Rate
0.52%
Tax
$2,498
Quality
101
87522
Chimayo, NM
0.18 percentage points lower than ZIP 87506.
Rate
0.35%
Tax
$758
Quality
84
87010
Cerrillos, NM
0.16 percentage points lower than ZIP 87506.
Rate
0.37%
Tax
$1,656
Quality
84
87535
Glorieta, NM
0.12 percentage points lower than ZIP 87506.
Rate
0.40%
Tax
$1,720
Quality
89
87567
Santa Cruz, NM
0.08 percentage points lower than ZIP 87506.
Rate
0.44%
Tax
$1,258
Quality
86
Data from U.S. Census Bureau, American Community Survey 2019-2023 5-Year Estimates (ZCTA level). ZIP Code Tabulation Areas (ZCTAs) are Census approximations of USPS ZIP codes.
Estimates are informational only and should not be used as financial or legal advice.