September 8, 2025

The mill rate in Bernalillo County, the number used in conjunction with the assessed value of a property, has been reduced for a second year, dropping again in 2025.  Generally, that means a drop in property taxes due by the property owner.

For the 2025 tax year, the New Mexico Department of Finance and Administration (DFA) has affirmed the mill rate.  Residential property owners in Albuquerque will see a 1.6% drop in the mill rate while non-residential, or commercial property owners, will see a 4.5% reduction in the mill rate.

“Despite a new taxing authority in Bernalillo County, taxing districts kept their budgets modest,” says County Assessor Damian Lara.  “As an example, a senior citizen on our Value Freeze program since 2023, with a taxable property value of $100,000 will pay $132 less in taxes in 2025 compared to 2023.”

Mill rates vary across Bernalillo County depending on the taxing entities tied to a property’s location. In addition to city, county, educational, and hospital taxes, some property owners also pay taxes to the Middle Rio Grande Conservancy District or the Albuquerque Metropolitan Arroyo Flood Control Authority.

Fair and accurate updates to commercial property assessments – many of which remained unchanged for more than a decade under previous administrations – made this year’s reduction possible.

“A fair balance between property owners and fiscal responsibility from the taxing entities means everyone wins when tax bills arrive,” adds Lara.

Property owners will see the changes reflected in tax bills mailed in November 2025.