88135 Property Tax Rate

Property owners in ZIP code 88135 (Texico, New Mexico) pay a median of $481/year in property taxes on homes valued at $112,900. This translates to an effective tax rate of 0.43%, which is 28% below the New Mexico state average of 0.59%.

The monthly property tax burden for a median-valued home in 88135 is approximately $40, which factors into escrow payments on mortgages. This ZIP code is located within Curry County. This is $661 less than the New Mexico average of $1,142/year.

Compared to similar ZIP codes in New Mexico, 88135 has higher property taxes. ZIP codes with similar effective rates include 88316 (0.43%) and 87936 (0.43%).

In Texico, property taxes represent approximately 0.7% of the median household income of $71,250, 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 on increases — contact the Curry County Assessor to understand your property's assessed value immediately after closing. Curry County offers a general homestead exemption; file with the Curry County Assessor's office to determine your eligibility and the exemption amount applied to your home. Request a copy of your property assessment card and verify the taxable value on your first tax bill to confirm the exemption was applied correctly.