Lea commissioners approve imposition of 2026 property tax rates
Denise Marquez/News-Sun
LOVINGTON — The Lea County Board of County Commissioners ordered the county assessor to impose the 2026 state property tax rates, most of which will hold steady from last year.
During a special county commission meeting Tuesday morning, Ave Benge, Lea County assessor, reviewed the property tax rates set forth by the New Mexico Department of Finance and Administration to be collected in fiscal year 2027.
Benge informed commissioners the 2026 net taxable value for the county decreased 7.36 percent from 2025; and residential and non-residential property values increased from 2025.
“Our 2026 net taxable value is $21,265,972,364,” she said. “The decrease from 2025 is basically $1,626,089,636 — that’s a 7.36 percent decrease and that is due to oil and gas production and oil and gas equipment in 2025. Prices were down so that’s where that’s coming from.
“Value change from 2025 residential is up $55 million, non-residential is up $757 million,” Benge continued. “Oil and gas production was down $2 billion (and) oil and gas equipment (is down) $418 million. The total is a net change of a negative $1,626,089,636 (from 2025).”
The county commissioners’ imposition of the state property taxes is a routine annual requirement under state law. It formally adopts and levies the property tax rates certified by NMDFA for various entities across the county, including municipalities, school districts and special districts, such as hospital districts. Property taxes in Lea County fund local services such as public education, county road maintenance, corrections and law enforcement operations.
The following are the mill levies approved for Lea County municipalities for tax year 2026:
Hobbs
• Residential (in city): 26.791; 2025 levies: 26.989
• Non-residential (in city): 34.494; 2025 levies: 34.497
• Residential (out of city): 22.993; 2025 levies: 23.155
• Non-residential (out of city): 28.939; 2025 levies: 28.942
Lovington
• Residential (in city): 30.183; 2025 levies: 30.498
• Non-residential (in city): 38.333; 2025 levies: 38.333
• Residential (out of city): 26.712; 2025 levies: 26.948
• Non-residential (out of city): 32.683; 2025 levies: 32.683
Eunice
• Residential (in city): 23.949; 2025 levies: 24.486
• Non-residential (in city): 32.508; 2025 levies: 32.724
• Residential (out of city): 18.814; 2025 levies: 19.248
• Non-residential (out of city): 24.858; 2025 levies: 25.074
Jal
• Residential (in city): 21.193; 2025 levies: 21.638
• Non-residential (in city): 29.725; 2025 levies: 29.725
• Residential (out of city): 16.122; 2025 levies: 16.369
• Non-residential (out of city): 22.075; 2025 levies: 22.075
Tatum
• Residential (in city): 25.276; 2025 levies: 25.488
• Non-residential (in city): 32.444; 2025 levies: 32.444
• Residential (out of city): 22.329; 2025 levies: 22.498
• Non-residential (out of city): 28.219; 2025 levies: 28.219
“Mostly our tax rates have remained unchanged,” Benge said. “There are some areas in which our non-residential (tax rates) have actually come down, which is a good thing. If you’re lucky and live outside of Jal that’s a great place, low tax rates. It’s very stable.”
With the commission’s formal approval complete, the county assessor’s office will proceed with finalizing the tax schedule. Tax bills across New Mexico are traditionally mailed by county treasurers on or before Nov. 1 each year.
