Mcalister, New Mexico Property Taxes
The median property tax rate in McAlister, NM is 0.71%, which is lower than both the national median of 0.99% and the New Mexico state median of 0.86%. With a median home value of $47,391 in McAlister, the typical annual property tax bill is $284, significantly below the national median of $2,690. Property taxes in McAlister 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 McAlister'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 McAlister or another part of Quay County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mcalister, 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 McAlister Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in McAlister with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in McAlister 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 Mcalister, New Mexico
Property taxes in McAlister, 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 McAlister is 0.71%, which is lower than the U.S. national median of 0.99%. Local government entities within McAlister set these rates annually, and they can vary significantly across different neighborhoods. Each year, McAlister 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 McAlister's effective property tax rate to other areas in New Mexico and the national median. For comparison, the zip code 88427 in Quay County has the same median property tax rate of 0.71%. Understanding how these areas compare with McAlister provides valuable insights into the varying tax landscape across Quay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mcalister Tax Rate
0.71%
Average Quay County Tax Rate
0.98%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mcalister, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88427 | 0.62% | 0.65% | 0.71% | 0.74% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Mcalister, New Mexico
In McAlister, 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 Quay 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 McAlister, 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 McAlister helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $284 in the 88427 zip code, which also has the lowest median tax bill at $284.
Average Mcalister Assessed Value
$47,391
Average Quay County Assessed Value
$31,267
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mcalister, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88427 | $6,830 | $20,046 | $47,391 | $90,943 | $162,019 |
Source: Ownwell
Property Tax Bills Across Mcalister, New Mexico
In McAlister, located in Quay County, NM, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. The median home price in McAlister is $47,391. Property taxes are determined by multiplying the assessed value by the local tax rate. For example, residents in McAlister can expect tax bills ranging from $127 at the 25th percentile to $1,071 at the 90th percentile. The highest and lowest median tax bills in the area are both $284, indicating a relatively consistent tax environment within the zip code 88427. Homeowners in McAlister should be aware that property taxes impact their overall housing costs and can vary significantly depending on the assessed value of their property and the specific tax rates applied. By understanding these factors, homeowners can better anticipate their annual property tax expenses and plan their finances accordingly.
Average Mcalister Tax Bill
$284
Average Quay County Tax Bill
$307
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Mcalister, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88427 | $40 | $127 | $284 | $600 | $1,071 |
Source: Ownwell