88201 Property Tax Rate

Property owners in ZIP code 88201 (Roswell, New Mexico) pay a median of $1,271/year in property taxes on homes valued at $202,600. This translates to an effective tax rate of 0.63%, which is 7% above the New Mexico state average of 0.59%.

The monthly property tax burden for a median-valued home in 88201 is approximately $106, which factors into escrow payments on mortgages. This ZIP code is located within Chaves County.

Compared to similar ZIP codes in New Mexico, 88201 has lower property taxes. ZIP codes with similar effective rates include 87701 (0.63%) and 88012 (0.63%).

In Roswell, property taxes represent approximately 2.0% of the median household income of $62,752, 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 — your property will be valued at current market rates regardless of your purchase price or prior tax history. Chaves County provides a homestead exemption reducing the assessed value of primary residences; file your exemption claim with the Chaves County Assessor immediately after closing to capture the relief. Request a written confirmation letter showing your exemption amount and when it takes effect to protect your record.