HonestCasa logoHonestCasa
All Tax Guides
Updated 2025 Tax Year

Grant County
Property Tax Guide

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

7 Official Sources
8 min read
Calculate Your True CostMortgage Calculator
Quick Facts
Tax Rate
6.3125% effective rate for 2025 levy year, varies significantly by location due to special taxing districts
Exemptions
5+ Available
Section 1

How Property Tax Works

Grant County, New Mexico operates on a property tax system that serves as the primary funding mechanism for essential local services including public schools, county government operations, fire protection, and various special districts. Property taxes in Grant County are administered by the County Assessor's office and collected by the County Treasurer, with tax bills typically issued annually.

The effective property tax rate for Grant County is 6.3125% for the 2025 levy year, though actual rates can vary significantly depending on your specific location within the county due to special taxing districts such as school districts, fire districts, and municipal improvement districts. Property owners should note that New Mexico assesses residential property at approximately one-third of market value, and the actual tax burden will depend on which special districts serve your particular property. Grant County encompasses several municipalities and unincorporated areas, each potentially subject to different combinations of local assessments.

Section 2

What Makes Up Your Tax Bill

ComponentRateDescription
County General Fund1.2500%Basic county services and operations
School District2.8750%Public education funding (varies by district)
State Education0.5625%State-mandated education support
Debt Service0.8125%Bond payments for infrastructure
Fire Protection0.3125%Fire district services (where applicable)
Special Districts0.5000%Varies by location (water, sewer, lighting)
Total Base Rate6.3125%FY 2025-2026 levy year

Note: Rates shown are representative and may vary by specific taxing district within Grant County. Properties in incorporated areas may have additional municipal assessments, while rural properties may have different special district combinations. Consult the Grant County Assessor's office for your specific tax district rate.

Section 3

When Are Property Taxes Due?

For the 2025/2026 tax year in Grant 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 Grant County are triggered by specific events that change a property's assessed value during the tax year, most commonly new construction, completion of additions or improvements, or changes in property ownership that remove existing exemptions or credits. When supplemental taxes are assessed, they are calculated based on the difference between the old and new assessed values, prorated for the portion of the tax year remaining.

For example, if you complete a $50,000 home addition in March and the county assesses it at $50,000 market value (approximately $16,667 assessed value at the one-third assessment ratio), your supplemental tax would be calculated as: $16,667 × 6.3125% × 10/12 months = $875.35 for the remaining tax year. Supplemental tax bills are typically issued within 30-60 days of the assessment and become due immediately upon receipt, separate from your regular annual property tax bill.

Example Calculation

Example 1: $300,000 Home

  • Market Value: $300,000
  • Assessed Value (33.33%): $100,000
  • Less: Head of Family Credit (if applied): -$2,000
  • Net Taxable Value: $98,000
  • Annual Tax ($98,000 × 6.3125%): $6,186.25
  • Monthly Payment: $515.52

Example 2: $600,000 Home

  • Market Value: $600,000
  • Assessed Value (33.33%): $200,000
  • Less: Head of Family Credit (if applied): -$2,000
  • Less: Veterans Credit (if qualified/applied): -$4,000
  • Net Taxable Value: $194,000
  • Annual Tax ($194,000 × 6.3125%): $12,246.25
  • Monthly Payment: $1,020.52

Example 3: $1,000,000 Home

  • Market Value: $1,000,000
  • Assessed Value (33.33%): $333,333
  • Less: Head of Family Credit (if applied): -$2,000
  • Net Taxable Value: $331,333
  • Annual Tax ($331,333 × 6.3125%): $20,915.19
  • Monthly Payment: $1,742.93

All credits shown require separate applications and are not automatically applied.

See How Taxes Affect Your Payment

Property taxes are just part of your total monthly cost. Get the full picture.

Calculate Now
Section 5

Escrow & Property Taxes

Most mortgage lenders in Grant County require borrowers to establish an escrow account for property tax payments, particularly for loans with less than 20% down payment. Your lender will estimate your annual property tax based on the most recent tax bill and divide this amount by 12 to determine your monthly escrow payment. The lender typically collects 2-3 months of estimated taxes at closing to establish the escrow account cushion.

Property tax payments from escrow accounts are usually made by lenders in two installments corresponding to Grant County's payment schedule. Lenders must provide an annual escrow analysis statement showing the account activity and any required adjustments to your monthly payment. If your property taxes increase due to reassessment or rate changes, your lender will adjust your monthly escrow payment accordingly. Property owners should verify that their lender has paid taxes on time, as you remain ultimately responsible for ensuring payment even when using escrow services.

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 in Grant County? A: Property taxes for FY 2025-2026 are typically due in two installments: the first half by November 10, 2025, and the second half by April 10, 2026. Late payments incur penalties and interest charges.

Q: What tax credits are available and do they require application? A: The Head of Family Credit provides up to $2,000 reduction in taxable value for New Mexico residents who own their primary residence. Veterans may qualify for additional credits up to $4,000. Both credits require separate applications filed with the County Assessor and are NOT automatically applied.

Q: How does the Homestead Credit work? A: New Mexico's homestead provisions limit annual assessment increases on residential property to help prevent displacement due to rising property values. This requires filing an application with the County Assessor and caps assessment growth rather than reducing market value.

Q: When does the County Assessor revalue properties? A: Grant County conducts regular reassessments, with most residential properties revalued every few years. Property owners receive notice of assessment changes and have the right to appeal within 30 days of receiving the notice.

Q: What happens if I pay my property taxes late? A: Late payments incur penalties starting at 1% per month, with additional interest charges. Properties with significantly delinquent taxes may eventually face tax lien sales.

Q: Can I pay property taxes online? A: Yes, Grant County typically offers online payment options through the County Treasurer's website. Credit card payments may incur additional processing fees.

Q: How do special district taxes work? A: Special districts for services like fire protection, water, or street lighting impose additional taxes beyond the base county rate. Your specific rate depends on which districts serve your property location.

Q: What if I disagree with my property assessment? A: You can appeal your assessment to the County Valuation Protest Board within 30 days of receiving your notice of value. The appeal must be filed in writing with supporting documentation of your property's value.

Verified Sources

Backed by 7 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
Tax Doc
Revenue Stabilization & Tax Policy Committeenmlegis.gov
03
Tax Doc
Certificates of Property Tax Ratesnmdfa.state.nm.us
04
Exemptionsgrantcountynm.gov
05
Formsgrantcountynm.gov
06
County
Tax Savings Programs - Assessor - Bernalillo Countybernco.gov
07
HB0218nmlegis.gov
All sources verified as of 2025 Tax Year

See the Full Picture of Your Home Costs

Property taxes are just one piece of homeownership. HonestCasa helps you understand your total monthly cost and explore safe ways to access your home equity.

Total Monthly Cost

Mortgage + taxes + insurance + HOA

Equity Growth

Track how your equity grows over time

Safe Equity Access

Options for projects or debt payoff

Run Your ScenarioTry Calculator

Free • No credit check • 2-minute estimate