Crownpoint, New Mexico Property Taxes
The median property tax rate in Crownpoint, NM is 0.57%, significantly lower than both the national median of 0.99% and the New Mexico state median of 0.86%. With a median home value of $41,410 in Crownpoint, the typical annual property tax bill amounts to $235, which is well below the national median of $2,690. Property taxes in Crownpoint are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Crownpoint'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 Crownpoint or another part of McKinley County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Crownpoint, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.57%
Estimate Property Tax Bill
$236
Ownwell’s Crownpoint Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Crownpoint with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Crownpoint 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 Crownpoint, New Mexico
Property taxes in Crownpoint, New Mexico, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Crownpoint is 0.57%, which is significantly lower than both the New Mexico state median and the U.S. national median of 0.99%. Local government entities within Crownpoint set these rates annually, and they can vary significantly across different neighborhoods. Each year, Crownpoint 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 Crownpoint's effective property tax rate to other areas in New Mexico and the national median. For comparison, the zip code 87313 has the highest median property tax rate of 0.57%, while the same zip code also has the lowest median tax rate of 0.57%. Understanding how these areas compare with Crownpoint provides valuable insights into the varying tax landscape across McKinley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Crownpoint Tax Rate
0.57%
Average Mckinley County Tax Rate
1.20%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Crownpoint, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87313 | 0.57% | 0.57% | 0.57% | 0.57% | 0.57% |
Source: Ownwell
Property Tax Assessment Values Across Crownpoint, New Mexico
In Crownpoint, 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 McKinley County Assessor 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 Crownpoint, 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 Crownpoint helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 87313, with a tax bill of $235, which is also the lowest median tax bill in the area.
Average Crownpoint Assessed Value
$41,410
Average Mckinley County Assessed Value
$79,030
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Crownpoint, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87313 | $41,410 | $41,410 | $41,410 | $41,410 | $41,410 |
Source: Ownwell
Property Tax Bills Across Crownpoint, New Mexico
In Crownpoint, McKinley County, NM, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value reflects a percentage of the property's market value, which is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Crownpoint, the median home price is $41,410. Given the local tax rate, property tax bills typically range from $235 at the 25th percentile to $235 at the 90th percentile, indicating a consistent tax rate across various property values. This rate is significantly lower than the national median property tax rate of 0.99%, making Crownpoint a relatively affordable area in terms of property taxes. Homeowners benefit from predictable tax bills, which aids in financial planning. However, it's essential for property owners to stay informed about any changes in local tax rates or property assessments, as these can impact annual tax obligations.
Average Crownpoint Tax Bill
$235
Average Mckinley County Tax Bill
$899
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Crownpoint, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87313 | $235 | $235 | $235 | $235 | $235 |
Source: Ownwell