Rate Breakdown

Property taxes in Chaves County are calculated by multiplying the assessed value (minus exemptions) by the total local millage rate.

How Property Tax Works in Chaves County

Property tax in Chaves County is determined by the assessed value of your property and the local tax rate, known as the millage rate. The Chaves County Assessor’s office is responsible for determining the market value of your property. Under New Mexico law, the taxable value is generally 33.33% of the property's appraised value. The millage rate is then applied to this taxable value. This rate is a composite of levies from various taxing entities, including the county, school districts, and municipal governments. It is important to note that New Mexico law limits the annual increase in the valuation of residential property to 3% per year, unless there is a physical change to the property or a change in ownership.

Available Exemptions

New Mexico offers several tax relief programs to help reduce the financial burden on specific groups of property owners. To qualify, you must be the owner of record and use the property as your primary residence.

• Head of Family Exemption: A reduction of $2,000 from the taxable value of your primary residence.
• Veterans Exemption: Qualified honorably discharged veterans or their surviving spouses may receive a reduction in taxable value. There is also a 100% disability exemption for veterans who meet specific service-connected disability criteria.
• Senior or Disabled Citizen Valuation Freeze: If you are 65 or older or permanently disabled and meet specific income requirements, you may apply to freeze the valuation of your primary residence at the current year’s value, preventing future tax increases due to market value appreciation.

Payment Schedule & Deadlines

Property tax bills in Chaves County are mailed by the County Treasurer’s office by November 1st of each year. Taxes are due in two equal installments:

• First Half: Due on November 10th and becomes delinquent if not paid by December 10th.
• Second Half: Due on April 10th and becomes delinquent if not paid by May 10th.

If you prefer, you may pay the full amount in a single payment by the December 10th deadline. It is critical to adhere to these dates; late payments incur interest and penalty charges mandated by state statute. Failure to pay property taxes can eventually lead to the placement of a tax lien on the property and potential sale at a public auction.

Appealing Your Assessment

If you believe the assessed value of your property is inaccurate or exceeds its fair market value, you have the right to file a formal protest. You must file a written protest with the Chaves County Assessor’s office within 30 days of the date on your Notice of Value. Be prepared to provide supporting documentation, such as recent appraisals, sales data of comparable properties in your area, or photos of property damage. Once filed, you will be notified of a hearing date with the County Valuation Protests Board, where you can present your evidence.