US Home Sales Tax

Taxes when buying a house in New Mexico

New Mexico does not tax a home purchase or the mortgage, for the buyer or the seller.

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Loan amount: $320,000. Some states tax the mortgage, so the loan size changes the result there. Paying cash? Enter 100.

Estimated taxes when you buyNew Mexico ยท Rates verified November 2026
Pay to the order ofState and county tax offices$0

Zero and 00/100 dollars

New Mexico does not tax the buyer on this purchase.

Taxes the buyer pays
Tax on the purchase$0
Total buyer taxes$0

Taxes only. Lender fees, title insurance, flat recording fees and prepaid property tax are separate closing costs.

What a New Mexico home buyer is taxed on

Buyer's taxes
None on the purchase or the mortgage.
Transfer tax
Nobody. New Mexico does not tax the transfer of a home.
Sales tax
None. A home is real estate, and sales tax does not apply to it.
Official source
New Mexico Taxation and Revenue Department
Last verified

New Mexico buyer taxes at common prices

Purchase priceLoan with 20% downBuyer's taxes
$150,000$120,000$0
$250,000$200,000$0
$400,000$320,000$0
$600,000$480,000$0
$1,000,000$800,000$0

Questions New Mexico buyers ask

Do buyers pay transfer tax in New Mexico?

Nobody. New Mexico does not tax the transfer of a home.

Is there a mortgage tax in New Mexico?

No. New Mexico does not tax the recording of a mortgage. The county charges only a flat fee to record it.

Is there sales tax when you buy a house in New Mexico?

No. Sales tax applies to goods and some services, and a house is real estate, which no state taxes that way.

How much tax does a buyer pay at closing in New Mexico?

Usually none. On a $400,000 home a New Mexico buyer owes no state or local tax on the purchase itself. Closing costs still include lender fees, title insurance and prepaid property tax.

Selling in New Mexico? Use the New Mexico seller net proceeds calculator.

Buyer taxes in other states