Understanding Your 2025 Property Tax Changes in Bernalillo County

Recently, GAAR heard differing messages about property tax trends in Bernalillo County—one (shared with members in September) suggesting that residential property owners may see a modest tax decrease, and another indicating that many homeowners will actually see an increase.

To help set the record straight, here’s what’s really happening based on clarification from Bernalillo County Treasurer Tim Eichenberg.

Why the Confusion?

In September, the County Assessor’s Office announced that mill rates—the rates used to calculate property taxes—were decreasing in most jurisdictions. On its own, a lower mill rate can reduce tax bills.

However, that message did not account for the increase in property assessments that took effect in April. Residential assessments rose by about 3%, and non-residential (commercial) properties saw an average 16% increase.

What It Means for Property Owners

The result is that, even though mill rates went down slightly, higher assessed values will more than offset that change—causing most property owners to see a net increase in their tax bills.

According to Treasurer Eichenberg:

• Residential properties will see an average increase of about $175 per household.
• In the Bel Air neighborhood, the average increase is closer to $65.
• In the North Albuquerque Acres, the average is around $275.
• Non-residential (commercial) properties will increase about $400 on average.

How REALTORS® Can Help Clients

As bills begin arriving in mailboxes, homeowners may be surprised by the difference between early reports and their actual tax statements. You can help by explaining:

• Assessment increases often outweigh small mill rate adjustments.
• Yield control laws are designed to limit rapid growth in tax revenue but don’t always prevent individual increases when valuations rise.
• Property owners who believe their valuation is inaccurate may appeal their assessment through the County Assessor’s Office.

For more details, REALTORS® can refer clients to the County Treasurer’s recent KOB interview or the Bernalillo County Assessor’s Office website.