87832 Property Tax Rate

Property owners in ZIP code 87832 (San Antonio, New Mexico) pay a median of $365/year in property taxes on homes valued at $214,800. This translates to an effective tax rate of 0.17%, which is 71% below the New Mexico state average of 0.59%.

The monthly property tax burden for a median-valued home in 87832 is approximately $30, which factors into escrow payments on mortgages. This ZIP code is located within Socorro County. This is $777 less than the New Mexico average of $1,142/year.

Compared to similar ZIP codes in New Mexico, 87832 has lower property taxes. ZIP codes with similar effective rates include 88038 (0.17%) and 87566 (0.16%).

New Mexico reassesses property to fair market value upon acquisition, with no statutory caps on future annual increases — your tax basis resets to current market value at closing. Socorro County offers a Primary Residence Assessment Exemption for owner-occupants; contact the Socorro County Assessor's office to file and determine your potential tax reduction. File your homeowner exemption application with the Socorro County Assessor within 30 days of closing to apply the exemption to your first tax bill.