Mora County Property Taxes
The median property tax rate in Mora County is 0.58%, which is 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 Mora County, the typical annual property tax bill reaches $365, which is well below the national median of $2,690. Property taxes in Mora County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Mora County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Mora or another part of Mora County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mora County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$358
Ownwell’s Mora County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Mora County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Mora County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Mora County, New Mexico
Property taxes in Mora County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Mora County is 0.58%, which is lower than both the New Mexico state median and the U.S. national median of 0.99%. Local government entities within Mora County set these rates annually, and they can vary significantly between different areas within the county. Each year, Mora County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Mora County's effective property tax rate with other counties in New Mexico and the national median. For comparison, the city of Watrous has one of the higher property tax rates in New Mexico at 0.81%, while the city of Ojo Feliz boasts one of the lowest at 0.48%. Analyzing how Mora County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Mora County Tax Rate
0.58%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mora County, New Mexico
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Buena Vista | 0.32% | 0.46% | 0.55% | 0.57% | 0.58% |
| Cleveland | 0.17% | 0.52% | 0.56% | 0.58% | 0.60% |
| Guadalupita | 0.45% | 0.54% | 0.56% | 0.59% | 0.63% |
| Holman | 0.49% | 0.54% | 0.57% | 0.58% | 0.59% |
| Mora | 0.52% | 0.55% | 0.58% | 0.59% | 0.63% |
| Ocate | 0.58% | 0.58% | 0.58% | 0.58% | 0.58% |
| Ojo Feliz | 0.48% | 0.48% | 0.48% | 0.48% | 0.48% |
| Rainsville | 0.53% | 0.55% | 0.58% | 0.59% | 0.60% |
| Wagon Mound | 0.64% | 0.71% | 0.79% | 0.85% | 0.87% |
| Watrous | 0.81% | 0.81% | 0.81% | 0.81% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Mora County, New Mexico
In Mora County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Mora County Appraisal District. The assessed value, however, 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. Assessment notices in Mora County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Watrous has the highest median tax bill at $1,334, while Guadalupita has the lowest at $345. Being aware of these valuation processes in Mora County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Mora County Assessed Value
$61,740
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mora County, New Mexico
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Buena Vista | $57,061 | $103,971 | $137,055 | $145,935 | $149,278 |
| Cleveland | $3,606 | $5,637 | $18,564 | $74,896 | $125,952 |
| Guadalupita | $8,446 | $25,816 | $62,949 | $116,200 | $170,830 |
| Holman | $21,498 | $50,479 | $101,697 | $122,472 | $134,210 |
| Mora | $26,476 | $54,823 | $94,251 | $133,943 | $186,438 |
| Ocate | $72,495 | $72,495 | $72,495 | $72,495 | $72,495 |
| Ojo Feliz | $99,972 | $99,972 | $99,972 | $99,972 | $99,972 |
| Rainsville | $38,090 | $56,476 | $87,120 | $130,946 | $157,241 |
| Wagon Mound | $10,813 | $29,336 | $46,599 | $72,011 | $137,426 |
| Watrous | $164,172 | $164,172 | $164,172 | $164,172 | $164,172 |
Source: Ownwell
Property Tax Bills Across Mora County, New Mexico
In Mora County, NM, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The county assessor determines this assessed value, considering factors such as property size, location, and market conditions. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. For homeowners in Mora County, property tax bills can significantly vary. For example, the 25th percentile tax bill is $145, while the 75th percentile tax bill reaches $675. At the higher end, the 90th percentile tax bill is $1091. These variations reflect differences in property values and specific local tax rates. Comparatively, the median home price in Mora County is $61,740, which is quite modest. In Watrous, homeowners face the highest median tax bill of $1334, whereas in Guadalupita, the lowest median tax bill is $345. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Mora County Tax Bill
$365
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Mora County, New Mexico
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Buena Vista | $261 | $562 | $753 | $803 | $852 |
| Cleveland | $7 | $27 | $77 | $415 | $697 |
| Guadalupita | $43 | $138 | $345 | $671 | $989 |
| Holman | $112 | $294 | $560 | $693 | $772 |
| Mora | $148 | $309 | $538 | $770 | $1,050 |
| Ocate | $418 | $418 | $418 | $418 | $418 |
| Ojo Feliz | $482 | $482 | $482 | $482 | $482 |
| Rainsville | $211 | $302 | $455 | $756 | $936 |
| Wagon Mound | $87 | $217 | $348 | $523 | $985 |
| Watrous | $1,334 | $1,334 | $1,334 | $1,334 | $1,334 |
Source: Ownwell
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