87734 Property Tax Rate
Ocate, New Mexico · Part of Mora County
Effective Tax Rate
0.21%
21.5% below state avgMedian Annual Tax
$896
$75/mo escrow
Estimate Your Tax
Annual Tax
$896
Monthly
$75
Eff. Rate
0.21%
Buyer decision brief
What ZIP 87734 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
$75/mo
Based on median annual tax paid
State context
0.38 percentage points below the New Mexico average
New Mexico average: 0.59%
Data confidence
High confidenceThe Census margin of error is $77, about 9% of the median tax estimate.
Verify before you offer
- Confirm parcel assessed value with Mora 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 87734 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
$77 tax MOE, 9% 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
Mora County is used for assessor verification and broader context.
Tax bill anatomy
What can change your actual bill in ZIP 87734
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 $420,700, but your bill starts with the local assessed value for a specific parcel.
Effective rate
The displayed rate is 0.21%, 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 $75 per month before insurance, HOA dues, or special assessments.
Assessor verification
Mora County assessor or tax collector records are the source of truth for parcel taxes, appeal windows, and exemptions.
How ZIP 87734 Compares
Median Annual Property Tax
ZIP 87734
0.21%
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 96% of ZIP codes in New Mexico(4th percentile, 227 ZIPs compared)
Property Tax Analysis
Property Tax Insights for ZIP 87734
Property owners in ZIP code 87734 (Ocate, New Mexico) pay a median of $896/year in property taxes on homes valued at $420,700. This translates to an effective tax rate of 0.21%, which is 64% below the New Mexico state average of 0.59%.
The monthly property tax burden for a median-valued home in 87734 is approximately $75, which factors into escrow payments on mortgages. This ZIP code is located within Mora County. This is $246 less than the New Mexico average of $1,142/year.
Compared to similar ZIP codes in New Mexico, 87734 has lower property taxes. ZIP codes with similar effective rates include 87061 (0.22%) and 87538 (0.23%).
In Ocate, property taxes represent approximately 3.2% of the median household income of $27,650, 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.
Frequently Asked Questions
What is the property tax rate in ZIP code 87734?
How much are property taxes in Ocate, NM (87734)?
How does ZIP 87734 compare to the New Mexico average?
What is the median home value in ZIP 87734?
What county is ZIP code 87734 in?
Margin of Error
The median property tax estimate for this ZIP code has a margin of error of ±$77. ZCTA-level data has wider margins than county-level estimates due to smaller sample sizes.
County-Level Data
ZIP code 87734 is part of Mora County, New Mexico. View the full county profile for broader context and more data.
View Mora County on TaxByCounty →Why compare these ZIPs?
Better comparison set for ZIP 87734
Each ZIP highlights a homebuyer tradeoff: lower rate, stronger value context, shared county rules, city boundary changes, or nearby missing data.
88321
Encino, NM
$675,800 higher median home value than ZIP 87734.
Rate
0.77%
Tax
$8,465
Quality
69
87540
Lamy, NM
$265,200 higher median home value than ZIP 87734.
Rate
0.59%
Tax
$4,053
Quality
77
87501
Santa Fe, NM
$228,400 higher median home value than ZIP 87734.
Rate
0.44%
Tax
$2,831
Quality
94
87122
Albuquerque, NM
$193,500 higher median home value than ZIP 87734.
Rate
0.90%
Tax
$5,510
Quality
94
87048
Corrales, NM
$131,300 higher median home value than ZIP 87734.
Rate
0.65%
Tax
$3,569
Quality
84
87508
Santa Fe, NM
$108,300 higher median home value than ZIP 87734.
Rate
0.52%
Tax
$2,729
Quality
94
87516
Canones, NM
0.12 percentage points lower than ZIP 87734.
Rate
0.09%
Tax
$464
Quality
77
87506
Santa Fe, NM
$102,900 higher median home value than ZIP 87734.
Rate
0.52%
Tax
$2,748
Quality
94
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.