This is a local take on a classic green chile potato soup. Can be garnished with sour cream, chives, green onions, bacon, etc.
Heat butter in a large Dutch oven or heavy-bottomed soup pot over medium heat until melted. Add onion; cook and stir until translucent, about 5 minutes. Add garlic and cook until fragrant, about 1 minute. Stir in potatoes and cook for 1 minute.
Sprinkle in flour and stir until smooth. Cook for 1 minute, stirring continuously, until browned but not burned. Slowly pour in broth and stir until well incorporated; bring to a simmer. Cover and cook, stirring every 15 minutes, until potatoes are tender, about 30 minutes. Be sure the soup does not boil.
Stir in chile peppers, milk, cumin, oregano, and salt. Bring to a simmer, then immediately remove from heat; do not allow to boil. Add Monterey Jack cheese and Cheddar cheese; stir until melted. Season with pepper and serve.
Per Serving: 343 calories; protein 14.9g; carbohydrates 36.2g; fat 16.3g; cholesterol 47.5mg; sodium 585.9mg.