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Updated 2025 Tax Year

Colfax County
Property Tax Guide

Everything you need to know about property taxes in Colfax County, NM. Rates, due dates, exemptions, and how it affects your monthly payment.

10 Official Sources
8 min read
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Quick Facts
Tax Rate
3.33% effective rate (varies by district and special assessments)
Exemptions
4+ Available
Section 1

How Property Tax Works

Colfax County, New Mexico operates on an ad valorem property tax system that funds essential local services including schools, county government operations, fire protection, and various special districts. Property taxes are assessed based on a percentage of the property's market value and are collected to support these critical community services throughout the county.

The effective tax rate for Colfax County is approximately 3.33% for the 2025 levy year, though actual rates vary significantly by location within the county due to different combinations of special taxing districts. Properties may be subject to additional assessments from school districts, fire districts, hospital districts, and other special service areas. The county follows New Mexico's assessment methodology, which typically assesses residential properties at approximately one-third of market value, with the final tax bill calculated by applying the combined tax rates from all applicable taxing jurisdictions to the net assessed value.

Section 2

What Makes Up Your Tax Bill

ComponentRateDescription
Base County LevyVariableGeneral county operations, services
School DistrictVariableLocal school district operations and bonds
Fire DistrictVariableFire protection services (where applicable)
Hospital DistrictVariableHealthcare district services (where applicable)
Special AssessmentsVariableInfrastructure, bonds, special projects
Total Effective Rate~3.33%Combined rate for FY 2025

Note: Actual tax rates vary by specific location within Colfax County depending on which special taxing districts serve your property. The 3.33% rate represents an average effective rate and your actual rate may be higher or lower based on your property's location and applicable special districts.

Section 3

When Are Property Taxes Due?

For the 2025/2026 tax year in Colfax County, property taxes are due in two installments:

Pro tip: If you pay through mortgage escrow, your lender splits these payments across your monthly mortgage. If you pay directly, set calendar reminders to avoid late penalties.
Section 4

Supplemental Tax Bills

Supplemental taxes in Colfax County are additional property tax assessments that occur when there are significant changes to a property outside of the regular assessment cycle. These are typically triggered by new construction, major improvements, or changes in property ownership that affect the assessed value.

When supplemental taxes are levied, they are calculated based on the difference between the old assessed value and the new assessed value, multiplied by the applicable tax rate for the remaining portion of the tax year. For example, if a homeowner completes a major home addition valued at $50,000 in March, and their tax rate is 3.33%, they would owe supplemental taxes of approximately $1,665 ($50,000 × 3.33%) prorated for the remaining months of the tax year. Supplemental tax bills are issued separately from regular property tax bills and have their own payment due dates.

Example Calculation

Example 1: $300,000 Home

  • Market Value: $300,000
  • Assessed Value (≈33%): $99,000
  • Less: Veterans Exemption (if applicable): -$4,000
  • Net Taxable Value: $95,000
  • Annual Tax ($95,000 × 3.33%): $3,164
  • Monthly Escrow: $264

Example 2: $600,000 Home

  • Market Value: $600,000
  • Assessed Value (≈33%): $198,000
  • Less: Homestead Credit (if applicable): -$2,000
  • Net Taxable Value: $196,000
  • Annual Tax ($196,000 × 3.33%): $6,527
  • Monthly Escrow: $544

Example 3: $1,000,000 Home

  • Market Value: $1,000,000
  • Assessed Value (≈33%): $330,000
  • Less: Available Credits: -$4,000
  • Net Taxable Value: $326,000
  • Annual Tax ($326,000 × 3.33%): $10,856
  • Monthly Escrow: $905

Note: All tax credits require application and approval. Credits shown are examples and actual available credits may vary.

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Section 5

Escrow & Property Taxes

Most mortgage lenders in Colfax County require property tax escrow accounts for borrowers with less than 20% down payment, though some lenders may require escrow regardless of down payment amount. Your lender collects monthly escrow payments along with your mortgage payment, typically calculated as 1/12th of your estimated annual property tax bill plus a small cushion for potential increases.

Property taxes in Colfax County are paid in two installments: the first half is due November 10th (with a grace period until December 10th), and the second half is due April 10th of the following year (with a grace period until May 10th). Your escrow servicer will make these payments on your behalf from your escrow account. You should receive annual escrow statements showing the account activity and any adjustments needed to maintain adequate funds for upcoming tax payments.

How HonestCasa Helps
  • Understand whether your escrow is set correctly
  • See how rising taxes will change your monthly payment
  • Plan ahead instead of being surprised by "shortage" letters
Section 6

Frequently Asked Questions

Q: When are property taxes due for FY 2025? A: First installment is due November 10th (grace period until December 10th), second installment due April 10th of the following year (grace period until May 10th).

Q: What tax credits are available and how do I apply? A: New Mexico offers various tax credits including Veterans Exemption and Homestead Credit. All credits require annual application through the County Assessor's office. Contact Colfax County Assessor for specific eligibility requirements and application deadlines.

Q: How does the Homestead Credit work? A: The Homestead Credit typically caps annual assessment increases rather than reducing market value. You must file an application with the County Assessor's office. This is not automatic and requires annual renewal in most cases.

Q: How often are properties reassessed? A: New Mexico conducts property revaluations on a regular cycle. Contact the Colfax County Assessor's office for the current revaluation schedule and appeal deadlines.

Q: What happens if I pay my taxes late? A: Interest and penalties accrue on unpaid taxes after the grace periods expire. Rates and penalties are set by state law and can compound over time.

Q: Can I pay my property taxes online? A: Contact the Colfax County Treasurer's office for current online payment options and accepted payment methods.

Q: How are special district taxes determined? A: Special districts (fire, hospital, school bonds) are determined by your property's location. Each district sets its own tax rate to fund specific services.

Q: What if I disagree with my property assessment? A: Property owners have the right to appeal their assessment. Contact the Colfax County Assessor's office for appeal procedures and deadlines, which are typically within 30 days of receiving your assessment notice.

Verified Sources

Backed by 10 Official Government Sources

Every fact in this guide is sourced from official county, state, and federal documents.

01
GRT - Filer's Kittax.newmexico.gov
02
Tax Doc
Certificates of Property Tax Ratesnmdfa.state.nm.us
03
2025 NOTICE OF VALUEco.colfax.nm.us
04
Tax Doc
Delinquent Property Tax Auctions : Businessestax.newmexico.gov
05
County
Resolutions - Colfax Countyco.colfax.nm.us
06
NEW MEXICO REGISTERsrca.nm.gov
07
Tax Doc
Property Taxes in New Mexiconmlegis.gov
08
Tracking Number Requester Received Date ...bia.gov
09
2011 Annual Budgetadamscountyco.gov
10
County
STATE OF NEW MEXICO COLFAX COUNTYco.colfax.nm.us
All sources verified as of 2025 Tax Year

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