Alcalde, New Mexico Property Taxes
The median property tax rate in Alcalde, NM is 0.83%, which is lower than both the national median of 0.99% and New Mexico's state median of 0.86%. With a median home value of $34,956 in Alcalde, the typical annual property tax bill amounts to $317, significantly below the national median of $2,690. Property taxes in Alcalde are determined based on the tax assessed value, which is generally lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Alcalde'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 Alcalde or another part of Rio Arriba County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Alcalde, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$290
Ownwell’s Alcalde Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Alcalde with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Alcalde 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 Alcalde, New Mexico
Property taxes in Alcalde, 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 Alcalde is 0.83%, which is lower than the U.S. national median of 0.99%. Local government entities within Alcalde set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alcalde 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 Alcalde's effective property tax rate to other areas in Rio Arriba County and the national median. For comparison, the zip code 87511 has both the highest and lowest median property tax rate of 0.83%. Understanding how these areas compare with Alcalde provides valuable insights into the varying tax landscape across Rio Arriba County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alcalde Tax Rate
0.83%
Average Rio Arriba County Tax Rate
0.79%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alcalde, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87511 | 0.49% | 0.77% | 0.83% | 0.83% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Alcalde, New Mexico
In Alcalde, 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 Rio Arriba 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 Alcalde, 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 Alcalde helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $317, found in the 87511 zip code.
Average Alcalde Assessed Value
$34,956
Average Rio Arriba County Assessed Value
$17,854
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alcalde, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87511 | $4,882 | $9,394 | $34,956 | $53,730 | $102,299 |
Source: Ownwell
Property Tax Bills Across Alcalde, New Mexico
In Alcalde, located in Rio Arriba County, NM, property tax bills are determined based on the assessed value of a home. The median home price in Alcalde is $34,956, and property taxes are calculated by applying the local tax rate to this assessed value. The tax rate in Rio Arriba County is designed to fund various public services, including schools, infrastructure, and emergency services. Several factors influence the final tax bill, including the property's assessed value, any applicable exemptions, and local levies. For example, the 25th percentile of tax bills in Alcalde is $108, while the 75th percentile reaches $495. Homeowners at the 90th percentile can expect to pay around $874. These figures illustrate the range of property tax obligations that residents may face. Compared to the national median property tax rate of 0.99%, homeowners in Alcalde experience relatively modest tax bills. Nevertheless, understanding these factors is crucial for homeowners to anticipate their annual financial obligations and plan accordingly.
Average Alcalde Tax Bill
$317
Average Rio Arriba County Tax Bill
$215
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Alcalde, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87511 | $41 | $108 | $317 | $495 | $874 |
Source: Ownwell