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New Mexico transfer tax rules (2026)
No state real estate transfer tax. You still pay recording fees and the other closing costs.
New Mexico vs other states
New Mexico is one of 15 states with no state transfer tax. On a $400,000 home Delaware buyers and sellers pay $16,000 between them. States nearby in the ranking:
- MissouriNo tax
- MontanaNo tax
- North DakotaNo tax
- OregonNo tax
All states: real estate transfer tax by state. Monthly payment: New Mexico mortgage calculator · how much house you can afford in New Mexico.
Sources
Checked 2026-10-23. Rates change — we re-check every state on a schedule. Confirm with your title company or closing attorney.
Closing cost calculators for other states
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- District of Columbia
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
Assumptions
- Transfer and recording taxes use each state's published rates; exemptions (first-time buyer, senior, affordable housing) aren't applied unless noted.
- Who pays a tax can be changed by the purchase contract; "either" means local custom or the contract decides.
- Other closing costs (lender, title, appraisal, prepaid items) vary widely — use your Loan Estimate for real numbers.
- New Mexico rules checked 2026-10-23: PropertyShark — real estate transfer taxes by state; LodeStar — which states quote transfer taxes.
Frequently asked questions
Does New Mexico have a real estate transfer tax?+
No. New Mexico has no state real estate transfer tax. No state real estate transfer tax. You still pay recording fees and the other closing costs.
What are closing costs in New Mexico?+
Without a transfer tax, New Mexico closing costs are mostly lender fees, title insurance, appraisal, recording fees and prepaid interest and escrow — typically about 2%–5% of the price nationally. On a $280,000 home, 2% is about $5,600. Your lender's Loan Estimate shows the real numbers.
Who pays closing costs in New Mexico?+
The buyer pays most lender and loan costs; the seller usually pays the real estate commission and often the owner's title policy, depending on local custom. Sellers can also agree to pay part of the buyer's costs as a concession.
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Uses 2026 rules and limits. Last reviewed October 23, 2026. Calculator version 1.0.0. Sources: Freddie Mac (via industry summaries) — closing costs typically 2%–5% of the purchase price. Results are estimates for educational purposes, not financial, tax or lending advice. How we check our numbers. Embed this calculator on your site for free.