Lordsburg, New Mexico Property Taxes
The median property tax rate in Lordsburg, NM is 0.65%, significantly lower than both the national median of 0.99% and the New Mexico state median of 0.86%. With the median home value in Lordsburg at $33,621, the typical annual property tax bill is $199, far below the national median of $2,690. Property taxes in Lordsburg are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Lordsburg's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Lordsburg or another part of Hidalgo County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lordsburg, New Mexico Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$1,720
Ownwell’s Lordsburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lordsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lordsburg 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 Lordsburg, New Mexico
Property taxes in Lordsburg, New Mexico, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lordsburg is 0.65%, lower than the U.S. national median of 0.99%. Local government entities within Lordsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lordsburg 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 Lordsburg's effective property tax rate to other counties in New Mexico and the national median. For comparison, the 88045 zip code has the highest median property tax rate of 0.65%, while the same 88045 zip code has the lowest median tax rate of 0.65%. Understanding how these cities compare with Lordsburg provides valuable insights into the varying tax landscape across Hidalgo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lordsburg Tax Rate
0.65%
Average Hidalgo County Tax Rate
0.62%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lordsburg, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88045 | 0.43% | 0.55% | 0.65% | 0.75% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Lordsburg, New Mexico
In Lordsburg, 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 Hidalgo 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 Lordsburg, 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 Lordsburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in the area is $199 in the 88045 zip code, while the lowest is also $199 in the same zip code, reflecting a consistent tax environment.
Average Lordsburg Assessed Value
$33,621
Average Hidalgo County Assessed Value
$36,636
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lordsburg, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88045 | $6,964 | $14,340 | $33,621 | $61,191 | $101,422 |
Source: Ownwell
Property Tax Bills Across Lordsburg, New Mexico
In Lordsburg, located in Hidalgo County, NM, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by the county assessor and is a percentage of the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions. For homeowners in Lordsburg, the median home price is relatively low at $33,621, which can result in lower property tax bills compared to national averages. For instance, the tax bill at the 25th percentile is $95, while at the 75th percentile, it rises to $374. At the 90th percentile, it can reach up to $632. Understanding these factors helps homeowners anticipate their annual tax obligations and plan their finances accordingly. Lower property values in Lordsburg generally mean more manageable tax bills for residents, providing some financial relief in comparison to the national median property tax rate of 0.99%.
Average Lordsburg Tax Bill
$199
Average Hidalgo County Tax Bill
$196
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Lordsburg, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88045 | $49 | $95 | $199 | $374 | $632 |
Source: Ownwell