87901 Property Tax Rate

Property owners in ZIP code 87901 (Truth Or Consequences, New Mexico) pay a median of $690/year in property taxes on homes valued at $114,800. This translates to an effective tax rate of 0.60%, which is near the New Mexico state average of 0.59%.

The monthly property tax burden for a median-valued home in 87901 is approximately $58, which factors into escrow payments on mortgages. This ZIP code is located within Sierra County. This is $452 less than the New Mexico average of $1,142/year.

Compared to similar ZIP codes in New Mexico, 87901 has lower property taxes. ZIP codes with similar effective rates include 88260 (0.60%) and 88044 (0.60%).

In Truth Or Consequences, property taxes represent approximately 2.5% of the median household income of $27,868, providing context for the relative tax burden on homeowners in this area.

New Mexico has no property tax cap; your home will be reassessed at market value in Sierra County upon purchase. Sierra County offers Homestead Exemptions and Senior/Disabled Exemptions that exempt a portion of assessed value — submit your application to the Sierra County Assessor's office with proof of residency, ownership, and age/disability status. File your exemption claim within 30 days of closing and request written confirmation from the Sierra County Assessor that the exemption reduces your taxable value.