US Home Sales Tax

New Mexico seller net proceeds calculator

New Mexico has no real estate transfer tax.

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Other closing costs cover title, escrow or attorney fees and recording. One percent is a common planning figure.

Estimated net proceedsNew Mexico ยท Rates verified November 2026
Pay to the order ofYou, the seller$374,000

Three hundred seventy-four thousand and 00/100 dollars

$400,000 sale, less $26,000 in costs and payoff

Itemised estimate
Sale price$400,000
Agent commission-$22,000
Transfer taxNew Mexico has no transfer tax.$0
Other closing costs-$4,000
Mortgage payoff$0
You keep$374,000

How transfer tax works in New Mexico

Rate
None
Who usually pays
Nobody. New Mexico does not tax the transfer of a home.
Local taxes
None.
Official source
New Mexico Taxation and Revenue Department
Last verified

What a New Mexico seller keeps at common sale prices

Sale priceSeller keeps before mortgage payoff
$150,000$140,250
$250,000$233,750
$400,000$374,000
$600,000$561,000
$1,000,000$935,000

Assumes a 5.5% agent commission and 1% in other closing costs. Change any figure in the calculator above.

Questions New Mexico sellers ask

Does New Mexico have a real estate transfer tax?

No. New Mexico has no real estate transfer tax.

Who pays the transfer tax in New Mexico, the buyer or the seller?

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

Are there city or county transfer taxes in New Mexico?

No. New Mexico cities and counties do not add one.

How do I estimate my net proceeds in New Mexico?

Start with the sale price, then subtract the agent commission, title and closing fees, and the balance left on your mortgage. On a $400,000 sale with a 5.5% commission and 1% in other costs, a New Mexico seller keeps about $374,000 before paying off the mortgage.

Buying in New Mexico instead? See taxes when buying a house in New Mexico.

More on the basics: What closing costs does a seller pay?, Who pays the transfer tax, the buyer or the seller?, How to calculate net proceeds from a home sale.

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