White Rock, New Mexico Property Taxes
The median property tax rate in White Rock, NM is 0.80%, which is lower than both the national median of 0.99% and the New Mexico state median of 0.86%. With the median home value in White Rock at $321,360, the typical annual property tax bill amounts to $2,561, which is below the national median of $2,690. Property taxes in White Rock are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding White Rock'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 White Rock 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
White Rock, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$2,571
Ownwell’s White Rock Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in White Rock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in White Rock 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 White Rock, New Mexico
Property taxes in White Rock, 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 White Rock is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within White Rock set these rates annually, and they can vary significantly across different neighborhoods. Each year, White Rock 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 White Rock's effective property tax rate to other areas in Los Alamos County and the national median. For comparison, the zip code 87547 has the highest median property tax rate of 0.80%, while the same zip code also has the lowest median tax rate of 0.80%. Understanding how these areas compare with White Rock provides valuable insights into the varying tax landscape across Los Alamos County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average White Rock Tax Rate
0.80%
Average Los Alamos County Tax Rate
0.80%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across White Rock, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87547 | 0.77% | 0.79% | 0.80% | 0.80% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across White Rock, New Mexico
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in White Rock, New Mexico. 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 local assessment authorities 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 White Rock, 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 White Rock helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 87547 in White Rock has the highest and lowest median tax bill at $2,561. With the median home price at $321,360, understanding these values helps homeowners effectively manage their property tax obligations.
Average White Rock Assessed Value
$321,360
Average Los Alamos County Assessed Value
$312,070
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across White Rock, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87547 | $207,268 | $257,010 | $321,360 | $442,270 | $574,328 |
Source: Ownwell
Property Tax Bills Across White Rock, New Mexico
In White Rock, property tax bills are calculated by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the market value of the property, which is determined by the county assessor. Factors such as property size, location, and improvements can influence this value. Homeowners in White Rock experience a range of property tax bills. For example, the 25th percentile tax bill is $2,027, while the 75th percentile tax bill is $3,532, and the 90th percentile reaches up to $4,686. These figures indicate that property taxes can vary significantly within the area. Comparatively, the national median property tax rate is 0.99%. The highest and lowest median tax bills in White Rock are both $2,561, which suggests a uniformity in tax assessments within the zip code 87547. These property taxes play a crucial role in funding local services, including schools, public safety, and infrastructure, directly impacting the quality of life for homeowners.
Average White Rock Tax Bill
$2,561
Average Los Alamos County Tax Bill
$2,472
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across White Rock, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87547 | $1,624 | $2,027 | $2,561 | $3,532 | $4,686 |
Source: Ownwell