87732 Property Tax Rate

Property owners in ZIP code 87732 (Mora, New Mexico) pay a median of $498/year in property taxes on homes valued at $118,600. This translates to an effective tax rate of 0.42%, which is 29% below the New Mexico state average of 0.59%.

The monthly property tax burden for a median-valued home in 87732 is approximately $42, which factors into escrow payments on mortgages. This ZIP code is located within Mora County. This is $644 less than the New Mexico average of $1,142/year.

Compared to similar ZIP codes in New Mexico, 87732 has lower property taxes. ZIP codes with similar effective rates include 87549 (0.42%) and 87552 (0.42%).

In Mora, property taxes represent approximately 0.8% of the median household income of $66,087, 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; Mora County will establish a new assessed value based on purchase price. Mora County provides Homestead Exemptions and Senior/Disabled Exemptions for primary residents — submit your application to the Mora County Assessor's office within 30 days of closing with proof of residency and ownership. Contact the Mora County Assessor to verify the exemption deadline and ensure the exemption is applied before the tax assessment is finalized.