01 - Set oven to 400°F (200°C) to prepare for baking.
02 - Heat a large skillet over medium heat; add ground beef and cook 2 to 3 minutes, breaking it apart with a spoon.
03 - Add diced onion and minced garlic to the skillet and cook until softened, about 3 minutes.
04 - Incorporate ground cumin, chili powder, smoked paprika, salt, and black pepper; cook for 1 minute until fragrant.
05 - Stir in tomato paste and water, then simmer for 4 to 5 minutes until sauce thickens slightly; remove from heat.
06 - Arrange tortilla chips in an even layer on a large baking sheet or ovenproof platter.
07 - Distribute black beans over the chips, then spoon the beef mixture evenly on top.
08 - Sprinkle shredded cheddar and Monterey Jack cheeses evenly over the beef and beans.
09 - Place in preheated oven and bake for 8 to 10 minutes until cheese melts fully and bubbles.
10 - Remove from oven, top with desired optional toppings such as sour cream, avocado, tomato, red onion, cilantro, jalapeño, and lime wedges, then serve immediately.