Kilmer has lived in New Mexico for two decades. He put his 5,300-acre Pecos River Ranch on the market for $33 million in 2009.
The ranch is now listed for sale at $18.5 million, down from $23 million in October.
Kilmer and his agent did not respond to telephone calls and e-mail on Thursday seeking comment.
U.S. & World
Kilmer also starred in movies including "Top Gun."
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