County TreasurerTerri Richards: Treasurer Eddy County Administration Complex 101 W. Greene St. Suite 117 Carlsbad, NM 88220 PHONE: 575-885-3913 Fax: 575-234-1835 OFFICE HOURS: Monday – Friday 8 am to 4:30 pm
TAX BILL INFORMATION:
TAX BILLS ARE DUE AND PAYABLE ON NOVEMBER 10TH OF EACH TAX YEAR AND MAY BE PAID IN FULL OR IN TWO (2) INSTALLMENTS.
1st Installment: Due November 10th of the Tax Year, AND IS DELINQUENT AFTER DECEMBER 10TH.
2nd Installment: Due the following April 10th, AND IS DELINQUENT AFTER MAY 10TH.
PENALTY AND INTEREST ON DELINQUENT TAX:
For specific Penalty and Interest amounts due, contact the Treasurer's Office.
Penalty and Interest on delinquent amounts are calculated as follows:
Penalty: 1% per month on delinquent TAX AMOUNT ONLY: 5% maximum
Interest: 1% per month on delinquent TAX AMOUNT ONLY: no maximum
**NOTE**: When delinquent dates fall on a weekend or legal Eddy County holiday, payments become delinquent at 5:00 pm the following business day.
REAL PROPERTY THAT IS DELINQUENT FOR 3 YEARS IS REPORTED TO THE STATE OF NEW MEXICO PROPERTY TAX DIVISION IN JULY OF THE 3RD YEAR OF DELINQUENCY. ONCE REPORTED, ALL TAXES PLUS A STATE COST FEE MUST BE PAID TO KEEP THE PROPERTY FROM BEING SOLD AT AUCTION. REAL PROPERTY THAT IS FOUR YEARS DELINQUENT IS AUCTIONED BY THE STATE OF NEW MEXICO.
Information for the NEW HOME BUYER:
Exemptions: Exemptions are available for Head of Family and qualifying Veterans. Exemptions may be claimed from January 1st through April 30th of each year at the Eddy County Assessor's Office during the rendering period. Contact the Assessor's Office for more information.
Mobile Home Sales or Purchases: If you are moving or selling your mobile home, the Assessor will require the new site address, new mailing address and new owner's name as it should appear on the new title to be issued by the state Motor Vehicle Department. After all information is taken, the Assessor will send you to the Treasurer's Office to get a tax release. The Treasurer will collect all prior and current calendar year taxes before signing and sealing the tax release. Your paper work must then be taken to the Motor Vehicle Department for the changes to be made.
Taxes Paid by Mortgage Companies: If you have a mortgage on your property, your mortgage company MAY pay the taxes. However it is YOUR responsibility to insure that your mortgage company is paying your taxes. You can verify payment of the taxes by calling the Treasurer's Office.
Taxes Credited at Closing: Since property taxes in New Mexico are based on a calendar year, your closing officer will generally impound, from the seller, a pro-rated share of the current year's taxes in advance. The buyer will then be credited with the amount that the seller has paid into closing. When the taxes become due, THE BUYER WILL BE RESPONSIBLE FOR THE ENTIRE BILL since he has been credited with the seller's pro-rated amount.
STEPS IN FORMING A TAX BILL:
- Assessor appraises property.
- Assessor reports values to New Mexico Department of Finance and Administration (DFA).
- Commissioners submit budgets to DFA.
- DFA includes bond issue taxes.
- DFA checks budgets for compliance within New Mexico Statutes.
- DFA gives proposed tax rates to County Commissioners.
- Assessor issues a Tax Roll to the County Treasurer based on the *mil rate and taxable values.
Formula for Calculating Tax Amounts: Appraised Value is divided by 3 to get the Assessed Value. Exemptions are subtracted from the Assessed Value to get the Taxable Value. Taxable Value is multiplied by mil rate then divided by 1,000 to determine yearly taxes.
*See the Eddy County Assessor's Office web page or call them to get the mil rate and exemption information.