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Updated 2025 Tax Year

San Miguel County
Property Tax Guide

Everything you need to know about property taxes in San Miguel 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
$2.00 per $1,000 of net taxable value (0.2% effective rate), varies by special taxing districts
1st Due
Nov 10
2nd Due
Apr 10
Exemptions
5+ Available
Section 1

How Property Tax Works

San Miguel County, New Mexico operates under a property tax system that serves as a crucial funding mechanism for essential local services including public schools, county operations, fire protection, and various special districts. Property owners in San Miguel County pay taxes based on their property's assessed value multiplied by the applicable tax rate, which for 2025 is $2.00 per $1,000 of net taxable value. This translates to an effective rate of approximately 0.2% before considering any applicable tax credits.

It's important to understand that your actual property tax rate may vary depending on your specific location within San Miguel County. Different areas are served by various special taxing districts such as school districts, fire districts, hospital districts, and improvement districts, each of which may impose additional levies. The county assesses all real property at approximately 33.33% of its market value, though this assessed value may be reduced through various tax credits that require separate applications and are not automatically applied.

Section 2

What Makes Up Your Tax Bill

ComponentRate per $1,000Description
Base County Levy$2.00San Miguel County general operations for FY 2025
School DistrictVariesDepends on specific school district boundaries
Fire DistrictVariesBased on fire protection district service area
Hospital DistrictVariesIf property is within hospital district boundaries
Special AssessmentsVariesImprovement districts, conservancy districts, etc.

Note: The $2.00 per $1,000 rate applies to the base county levy for fiscal year 2025. Additional special district taxes will appear as separate line items on your tax bill and vary significantly based on your property's location within the county. Contact the San Miguel County Assessor's office at (505) 454-9513 for your specific total tax rate.

Section 3

When Are Property Taxes Due?

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

First Installment
Nov 10
Delinquent after Dec 10
Second Installment
Apr 10
Delinquent after Apr 10
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 property taxes in San Miguel County are additional tax bills issued when there are changes to property ownership, value, or use that occur after the regular assessment date. The most common triggers include the sale of property to a new owner, completion of new construction or major improvements, and changes in property use classification (such as converting residential to commercial use).

When a supplemental assessment is triggered, the county calculates the difference between the old and new assessed values, applies the current tax rate, and prorates the additional tax based on the number of months remaining in the tax year. For example, if you purchase a home in San Miguel County in January that was previously underassessed, and the new assessment increases the taxable value by $50,000, you would owe approximately $100 in supplemental taxes ($50,000 × 33.33% assessment ratio × $2.00 rate ÷ 1,000) prorated for the remaining months of the tax year.

Example Calculation

Example 1: $300,000 Home

  • Market Value: $300,000
  • Assessed Value (33.33%): $100,000
  • Less: Veterans Exemption (if applicable): -$4,000
  • Net Taxable Value: $96,000
  • Annual Tax ($96,000 × $2.00 ÷ 1,000): $192
  • Monthly (if escrowed): $16

Example 2: $600,000 Home

  • Market Value: $600,000
  • Assessed Value (33.33%): $200,000
  • Less: Head of Family Credit (if applicable): -$2,000
  • Net Taxable Value: $198,000
  • Annual Tax ($198,000 × $2.00 ÷ 1,000): $396
  • Monthly (if escrowed): $33

Example 3: $1,000,000 Home

  • Market Value: $1,000,000
  • Assessed Value (33.33%): $333,333
  • Less: Applicable Credits: -$4,000
  • Net Taxable Value: $329,333
  • Annual Tax ($329,333 × $2.00 ÷ 1,000): $659
  • Monthly (if escrowed): $55

Note: Tax credits shown require separate applications and are not automatically applied. Rates shown are base county rates only and do not include special district taxes.

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Section 5

Escrow & Property Taxes

Most mortgage lenders in San Miguel County require borrowers to maintain an escrow account for property taxes, especially when the loan-to-value ratio exceeds 80%. Your lender collects 1/12th of your estimated annual property tax bill with each monthly mortgage payment and holds these funds in a separate escrow account. The lender then pays your property taxes directly to San Miguel County when they become due.

Property taxes in San Miguel County are paid in two installments: the first half is due November 10th, and the second half is due April 10th of the following year (with a grace period until May 10th). Your lender will typically pay these installments on your behalf and provide you with documentation showing the payments. It's important to review your annual escrow analysis statement to ensure adequate funds are being collected, as special district taxes or assessment increases can affect your total tax bill and may require escrow payment adjustments.

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 San Miguel County for the current fiscal year? A: For fiscal year 2025, the first installment is due November 10, 2025, and the second installment is due April 10, 2026, with a grace period until May 10, 2026.

Q: What tax credits are available and do they apply automatically? A: Common tax credits include the Veterans Tax Credit, Head of Family Credit, and Disabled Veterans Credit. These credits reduce your tax bill but require separate applications filed with the San Miguel County Assessor's office - they are NOT automatically applied.

Q: How does the Homestead Credit work in New Mexico? A: New Mexico does not have a traditional homestead exemption. However, owner-occupied residential properties may qualify for specific tax credits that must be applied for annually. Contact the County Assessor at (505) 454-9513 for current available credits.

Q: What happens if I pay my property taxes late? A: Late payments incur interest charges. After May 10th for the second installment, interest begins accruing monthly until paid in full.

Q: How often are properties reassessed in San Miguel County? A: New Mexico requires counties to conduct revaluations periodically. Contact the Assessor's office for the current revaluation schedule.

Q: Can I pay my property taxes online? A: Yes, San Miguel County offers online payment options. Visit the county treasurer's website or contact their office at (505) 454-9507 for payment portal access.

Q: How do special district taxes affect my bill? A: Special districts for schools, fire protection, hospitals, and improvements each impose separate taxes that appear as additional line items on your tax bill, potentially doubling or tripling your total tax amount.

Q: How do I appeal my property assessment? A: Assessment appeals must be filed with the County Valuation Protest Board within 30 days of receiving your Notice of Value. Contact the Assessor's office for appeal forms and procedures.

Q: What if I disagree with a supplemental tax bill? A: You can appeal supplemental assessments through the same process as regular assessments. Contact the Assessor's office within 30 days of receiving the supplemental notice.

Q: Are there tax credits for seniors or disabled property owners? A: Yes, New Mexico offers various tax credits for seniors, disabled veterans, and other qualifying groups. These require annual applications and documentation - contact the Assessor's office for eligibility requirements and application deadlines.

Verified Sources

Backed by 10 Official Government Sources

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

01
State
New Mexico Secretary of Stateelectionresults.sos.nm.gov
02
County
County Net Taxable Valuesnmdfa.state.nm.us
03
County
Treasurer's Office - San Miguel County NMco.sanmiguel.nm.us
04
County
San Miguel County property tax deadline extendedtax.newmexico.gov
05
County
Assessor - San Miguel County NMco.sanmiguel.nm.us
06
Money Mattersnmlegis.gov
07
Tax Doc
Property Taxes in New Mexiconmlegis.gov
08
Tax Doc
Property Tax Division : Taxation and Revenue New Mexicotax.newmexico.gov
09
County
San Miguel Countyco.sanmiguel.nm.us
10
Tax Doc
Lodgers' Tax Act NMSA 1978.pdfco.sanmiguel.nm.us
All sources verified as of 2025 Tax Year

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