Ramah, New Mexico Property Taxes
The median property tax rate in Ramah, NM is 0.95%, slightly below the national median of 0.99% but higher than the New Mexico state median of 0.86%. With a median home value in Ramah of $80,828, the typical annual property tax bill is $709, which is notably lower than the national median of $2,690. Property taxes in Ramah are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Ramah's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Ramah or another part of Cibola County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ramah, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$768
Ownwell’s Ramah Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ramah with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ramah to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Ramah, New Mexico
Property taxes in Ramah, New Mexico, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ramah is 0.95%, which is slightly below the U.S. national median of 0.99%. Local government entities within Ramah set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ramah estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Ramah's effective property tax rate to other areas in New Mexico and the national median. For comparison, the zip code 87321 has the highest median property tax rate of 0.95%, while zip code 87357 has the lowest median tax rate of 0.95%. Understanding how these areas compare with Ramah provides valuable insights into the varying tax landscape across Cibola County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ramah Tax Rate
0.95%
Average Cibola County Tax Rate
0.98%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ramah, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87321 | 0.82% | 0.92% | 0.95% | 0.97% | 1.00% |
| 87357 | 0.75% | 0.94% | 0.95% | 0.99% | 1.06% |
Source: Ownwell
Property Tax Assessment Values Across Ramah, New Mexico
In Ramah, New Mexico, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Cibola County Assessor's Office for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Ramah, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Ramah helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Ramah is $937 in zip code 87321, while the lowest is $190 in zip code 87357.
Average Ramah Assessed Value
$80,828
Average Cibola County Assessed Value
$45,831
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ramah, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87321 | $28,597 | $47,210 | $101,276 | $202,056 | $294,082 |
| 87357 | $8,973 | $12,228 | $25,925 | $49,968 | $168,556 |
Source: Ownwell
Property Tax Bills Across Ramah, New Mexico
In Ramah, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor. The assessed value is a percentage of the property's market value and is used to calculate the tax bill. Various factors, including property size, location, and improvements, influence the assessed value. Homeowners in Ramah can expect a wide range of property tax bills. The 25th percentile tax bill is around $306, while the 75th percentile reaches $1,575. For those at the higher end, the 90th percentile tax bill can be as much as $2,580. The highest median tax bill in the area is $937 in the 87321 zip code, whereas the lowest median tax bill is $190 in the 87357 zip code. Compared to the national median property tax rate of 0.99%, Ramah's property taxes can vary significantly, impacting homeowners differently based on their property's assessed value and location within the county.
Average Ramah Tax Bill
$709
Average Cibola County Tax Bill
$449
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Ramah, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87321 | $228 | $441 | $937 | $1,839 | $2,706 |
| 87357 | $71 | $108 | $190 | $463 | $1,521 |
Source: Ownwell