How to get a New Mexico property tax estimate before you accept an offer

What the law requires

Under NMSA 47-13-4, before accepting an offer to buy residential property, the seller or the seller’s broker must ask the county assessor for an estimate of the property taxes based on the listed price. The seller gives the buyer a written copy of that estimate.

The buyer either acknowledges receiving it in writing or waives it in writing. The assessor has to respond by the next business day, and may do it through its website.

Why the buyer’s tax bill can differ from yours

New Mexico limits how fast a residential property’s taxable value can rise each year for the same owner (NMSA 7-36-21.2). That limitation doesn’t carry over to a new owner, so a property that has been owned for many years can be revalued closer to its current market value after it sells.

The result: your annual tax bill may be a poor guide to the buyer’s. The estimate gives the buyer a realistic number before they commit.

How to request the estimate

1. Find your county assessor: Bernalillo County for Albuquerque, Sandoval County for Rio Rancho and Corrales, Valencia County for Los Lunas and Belen, Torrance County for Moriarty and Edgewood.
2. Check the assessor’s website for a property-tax estimate tool or request form, or call the office.
3. Provide the property address or parcel number and your listed price.
4. Save the written estimate as a PDF or printout with the date.

Giving it to the buyer

Send the estimate before you accept the offer, and keep a signed acknowledgment or a signed waiver with your transaction records. If the buyer’s agent uses an addendum or acknowledgment form, sign and keep a copy.

If your price changes before you accept an offer, ask for an updated estimate at the new price. Our New Mexico FSBO paperwork checklist covers the other documents.

Questions