La Union, New Mexico Property Taxes
The median property tax rate in LA UNION, NM is 1.12%, which is higher than both the national median of 0.99% and the New Mexico state median of 0.86%. With a median home value of $24,768 in LA UNION, the typical annual property tax bill is $184, significantly lower than the national median of $2,690. Property taxes in LA UNION are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding LA UNION'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 LA UNION or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
La Union, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.12%
Estimate Property Tax Bill
$277
Ownwell’s LA UNION Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LA UNION with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LA UNION 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 La Union, New Mexico
Property taxes in LA UNION, New Mexico, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in LA UNION is 1.12%, significantly higher than the U.S. national median of 0.99%. Local government entities within LA UNION set these rates annually, and they can vary significantly across different neighborhoods. Each year, LA UNION 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 LA UNION's effective property tax rate to other areas in Doña Ana County and the national median. For comparison, the 88021 zip code has the same median property tax rate of 1.12%. Understanding how these areas compare with LA UNION provides valuable insights into the varying tax landscape across Doña Ana County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average La Union Tax Rate
1.12%
Average Doaana County Tax Rate
1.02%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across La Union, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88021 | 0.77% | 0.78% | 1.12% | 1.12% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across La Union, New Mexico
In LA UNION, 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 Doña Ana County Appraisal District 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 LA UNION, 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. For instance, the median home price in LA UNION is $24,768, with property tax bills ranging from $139 at the 25th percentile to $1,930 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average La Union Assessed Value
$24,768
Average Doaana County Assessed Value
$120,428
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across La Union, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88021 | $8,538 | $15,461 | $24,768 | $87,132 | $214,706 |
Source: Ownwell
Property Tax Bills Across La Union, New Mexico
In LA UNION, located in Doa Ana County, NM, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in this region, the tax rate and assessed value are critical factors. The median home price in LA UNION is $24,768, leading to varying tax bills across the spectrum. For instance, homeowners in the 25th percentile can expect a tax bill around $139, while those in the 75th percentile might see bills closer to $975. The highest median tax bill in the area is $184, found in the 88021 zip code. Compared to the national median property tax rate of 0.99%, LA UNION's tax bills highlight the affordability of property taxes in this region. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average La Union Tax Bill
$184
Average Doaana County Tax Bill
$1,201
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across La Union, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88021 | $96 | $139 | $184 | $975 | $1,930 |
Source: Ownwell