Bernalillo County, NM – Property owners in Bernalillo County could see lower tax bills this year, as the county’s mill rate has dropped for the second consecutive year. The mill rate, used to calculate property taxes based on assessed value, has been affirmed by the New Mexico Department of Finance and Administration for the 2025 tax year.
Residential property owners in Albuquerque will see a 1.6% decrease, while commercial property owners will benefit from a 4.5% reduction.
“Despite a new taxing authority in Bernalillo County, taxing districts kept their budgets modest,” said County Assessor Damian Lara. He noted that a senior citizen enrolled in the Value Freeze program with a taxable property value of $100,000 will pay about $43 less in 2025 compared to 2023.
Mill rates vary depending on location and the taxing entities involved, which may include city, county, school districts, hospitals, and special districts like the Middle Rio Grande Conservancy District or the Albuquerque Metropolitan Arroyo Flood Control Authority.
Officials say fair and updated commercial property assessments—many unchanged for over a decade—contributed to this year’s reduction.
“A fair balance between property owners and fiscal responsibility from the taxing entities means everyone wins when tax bills arrive,” Lara added.
Property owners will see the updated rates reflected in tax bills mailed out in November 2025.
