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Updated 2025 Tax Year

Eddy County
Property Tax Guide

Everything you need to know about property taxes in Eddy 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
0.8% to 1.8% of assessed value (varies by taxing district location)
Exemptions
5+ Available
Section 1

How Property Tax Works

Eddy County operates under New Mexico's property tax system, where property taxes are the primary funding source for essential local services including public schools, county government operations, emergency services, and infrastructure maintenance. Property owners in Eddy County can expect effective tax rates that vary significantly by location within the county, typically ranging from approximately 0.8% to 1.8% of assessed value, depending on the specific taxing districts where the property is located.

The county uses a market-based assessment system where properties are valued at their current market value, with taxes calculated based on various levy rates set by different governmental entities. Tax rates for FY 2024-2025 show significant variation across the county, with non-residential properties in some areas like Loving facing rates as high as 17.925%, while other areas have substantially lower rates. Actual tax bills depend on your property's specific location within various special taxing districts, including school districts, municipal boundaries, fire districts, and other special assessment areas that can significantly impact your total tax liability.

Section 2

What Makes Up Your Tax Bill

ComponentRate RangeDescription
County General2.5-4.2%Basic county operations and services
School District8.5-12.8%Public education funding
Municipal0-3.5%City services (if within city limits)
Fire District0.5-1.8%Fire protection services
Special Districts0-2.1%Various special assessments
Total Effective Rate12.0-24.4%Combined rate varies by location

Note: Rates shown are for FY 2024-2025 levy year and represent the percentage of assessed value. Your actual rate depends on which specific taxing districts your property falls within. Properties in different areas of Eddy County will have different combinations of these components, resulting in significant variation in total tax rates across the county.

Section 3

When Are Property Taxes Due?

For the 2025/2026 tax year in Eddy 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 Eddy County are triggered by specific events that change a property's assessed value during the tax year, most commonly including ownership transfers, new construction completion, additions or improvements to existing structures, or corrections to previous assessments. When these events occur, the county assessor calculates the difference between the old and new assessed values and applies the current tax rate to determine the supplemental tax amount.

The supplemental tax is prorated based on the number of months remaining in the tax year from the date of the triggering event. For example, if you complete a $100,000 home addition in January that increases your assessed value by $100,000, and your area's tax rate is 15%, you would owe approximately $1,250 in supplemental taxes ($100,000 × 0.15 × 10/12 months remaining). Supplemental tax bills are typically issued within 60-90 days of the triggering event and become due upon receipt, with interest beginning to accrue if not paid within 30 days of the bill date.

Example Calculation

Property Value: $300,000

  • Assessed Value: $300,000
  • Less: Veteran's Credit (if qualified): -$10,000
  • Net Taxable Value: $290,000
  • Tax Rate (example district): 14.5%
  • Annual Tax: $4,205
  • Monthly Escrow: $350

Property Value: $600,000

  • Assessed Value: $600,000
  • Less: Veteran's Credit (if qualified): -$10,000
  • Net Taxable Value: $590,000
  • Tax Rate (example district): 16.2%
  • Annual Tax: $9,558
  • Monthly Escrow: $797

Property Value: $1,000,000

  • Assessed Value: $1,000,000
  • Less: Veteran's Credit (if qualified): -$10,000
  • Net Taxable Value: $990,000
  • Tax Rate (example district): 17.5%
  • Annual Tax: $17,325
  • Monthly Escrow: $1,444

Note: All tax credits require application and qualification. Veteran's credit increased to $10,000 for the current tax year but must be applied for annually. Actual rates vary by specific location within Eddy County.

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Section 5

Escrow & Property Taxes

Most mortgage lenders in Eddy County require borrowers to establish an escrow account to ensure property taxes are paid on time. Your lender will collect approximately 1/12th of your estimated annual property tax bill with each monthly mortgage payment, depositing these funds into a dedicated escrow account. The lender then pays your property taxes directly to Eddy County when the November 10th and April 10th installments become due.

Lenders are required to provide an annual escrow analysis, typically sent 30-60 days before your loan anniversary date, which compares the actual tax payments made against the collected escrow funds. If your property taxes increase due to reassessment or rate changes, your lender may require an escrow shortage payment and will adjust your monthly payment accordingly. You have the right to review your escrow account annually and can request documentation of all deposits and payments. If you pay off your mortgage or refinance, any excess escrow funds must be returned to you within 20 business days of loan closure.

How HonestCasa Helps
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Section 6

Frequently Asked Questions

Q: When are property taxes due in Eddy County for the current fiscal year? A: The first installment is due November 10th, with a grace period until December 10th without interest. The second installment is due April 10th of the following year, with a grace period until May 10th without interest.

Q: What tax credits are available and how do I apply? A: The primary tax credit available is the Veteran's Exemption, which provides a $10,000 credit against your assessed value for qualified veterans. This credit requires annual application with documentation of military service. Contact the Eddy County Assessor's office for application forms and deadlines.

Q: Is there a homestead credit that caps assessment increases? A: New Mexico does not have a traditional homestead credit that caps annual assessment increases. Properties are assessed at current market value each year. However, certain exemptions may be available for disabled veterans or seniors - contact the county assessor for current programs.

Q: When are properties reassessed in Eddy County? A: Properties are subject to reassessment annually, with the county assessor reviewing market values and making adjustments based on sales data and property conditions. Assessment notices are typically mailed by May 1st each year.

Q: How do I appeal my property assessment? A: You can file an appeal with the County Valuation Protest Board within 30 days of receiving your assessment notice. Appeals must be filed in writing with supporting documentation of your property's market value.

Q: What are the penalties for late property tax payments? A: Interest begins accruing on the first installment after December 10th and on the second installment after May 10th. The interest rate is set by state statute and compounds monthly until paid in full.

Q: Can I pay my property taxes online? A: Yes, Eddy County typically offers online payment options through their treasurer's website. Contact the Eddy County Treasurer's office for current online payment methods and any associated convenience fees.

Q: Why do property tax rates vary so much within Eddy County? A: Tax rates vary based on the specific combination of taxing districts where your property is located, including school districts, fire districts, municipal boundaries, and special assessment districts. Properties in different areas are served by different combinations of these districts, resulting in significantly different total tax rates.

Verified Sources

Backed by 10 Official Government Sources

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

01
County
County Net Taxable Valuesnmdfa.state.nm.us
02
County
County Data Classificationnmlegis.gov
03
County
County Assessor | Eddy County, NMco.eddy.nm.us
04
IMPORTANT DATEStax.newmexico.gov
05
Tax Doc
Revenue Stabilization & Tax Policy Committeenmlegis.gov
06
Tax Doc
Certificates of Property Tax Ratesnmdfa.state.nm.us
07
DENNIS ROMO and No. 24-10185-j7 DARYA ...govinfo.gov
08
NEW MEXICO REGISTERsrca.nm.gov
09
Tax Doc
Property Taxes in New Mexiconmlegis.gov
10
County
Planning & Development | Eddy County, NMco.eddy.nm.us
All sources verified as of 2025 Tax Year

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