Transfer tax in New Mexico: is there one when you buy or sell?

Is there a state transfer tax in New Mexico?

No. I found no New Mexico statute that taxes a deed, a conveyance or a recording, and the state’s own legislative record points the same way. In 2022, House Bill 158 proposed a new Real Estate Transfer Tax Act with an excise tax on residential sales over $500,000. The Legislative Finance Committee’s fiscal impact report treated it as a new tax, and the Legislature’s status page lists the bill as “Died.”

This page rests on what the sources show. Tax laws change in each session, so confirm with the county clerk or your closing agent before you rely on it. The Legislature’s official site, nmlegis.gov, lists each year’s bills.

What does recording a deed cost in Bernalillo County?

The County Clerk charges $25 per document for up to 10 entries. If a document lists more than 10 items, the Clerk charges another $25 for each group of 10 or fewer (Bernalillo County Clerk, as of October 2026). Copies cost $1 per page, plus $2 per document if certified.

A purchase with a loan usually records at least two documents: the deed and the mortgage. At $25 each, that is $50 if each document stays within 10 entries. The Clerk’s page does not list any tax added to that fee.

Do you pay another tax when you sell?

Possibly gross receipts tax, but not on your own home. New Mexico’s gross receipts tax applies to many sales of property. For a home, the Taxation and Revenue Department’s rules give this example:

• A homeowner sells their own house. The homeowner’s receipts are exempt as receipts from an isolated or occasional sale under Section 7-9-28 NMSA 1978.
• The real estate broker’s commission on that sale is fully taxable. No part of it is deductible (3.2.226.9 NMAC).

So gross receipts tax is built into the broker’s side of the deal, not a line on the seller’s closing statement. For commission costs, see our real estate commission guide. A seller who sells repeatedly, or as a business, falls outside the isolated-sale example and should ask the Taxation and Revenue Department.

What do you file with the county after you buy?

A residential deed or real estate contract that is presented for recording triggers a second step. The person presenting it must also file an affidavit with the county assessor within 30 days of recording (Property Tax Code § 7-38-12.1). The affidavit gives names, addresses, the legal description, the full price paid and the terms of the sale. The assessor uses it for statistics and appraisal and keeps it as a confidential record. It is not a tax.

The recorded deed also updates the assessor’s ownership record. If it is not updated within three weeks, the Bernalillo County Assessor asks you to email a copy of the deed. Your purchase price matters later: the assessor values a newly sold home at market value. See property tax in New Mexico.

What you pay at closing instead

The full list is in closing costs in New Mexico and in our closing costs guide.

Worked example: a $400,000 sale in Albuquerque

Suppose you buy for $400,000 with a mortgage. This is an illustration only.

The price of the home does not change the recording fee.