Jemez Pueblo, New Mexico Property Taxes
The median property tax rate in Jemez Pueblo, NM is 0.75%, lower than both the national median of 0.99% and the New Mexico state median of 0.86%. With the median home value in Jemez Pueblo, the typical annual property tax bill reaches $651, significantly less than the national median of $2,690. Property taxes in Jemez Pueblo are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Jemez Pueblo'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 Jemez Pueblo 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
Jemez Pueblo, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$667
Ownwell’s Jemez Pueblo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jemez Pueblo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jemez Pueblo 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 Jemez Pueblo, New Mexico
Property taxes in Jemez Pueblo, 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 Jemez Pueblo is 0.75%, which is lower than both the New Mexico state median and the U.S. national median of 0.99%. Local government entities within Jemez Pueblo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jemez Pueblo 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 Jemez Pueblo's effective property tax rate to other counties in New Mexico and the national median. For comparison, the zip code 87024 has the highest median property tax rate of 0.75%, while the same zip code also has the lowest median tax rate of 0.75%. Understanding how these cities compare with Jemez Pueblo provides valuable insights into the varying tax landscape across Sandoval County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jemez Pueblo Tax Rate
0.75%
Average Sandoval County Tax Rate
1.19%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jemez Pueblo, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87024 | 0.63% | 0.70% | 0.75% | 0.75% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Jemez Pueblo, New Mexico
In Jemez Pueblo, 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 Sandoval 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 Jemez Pueblo, 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. For instance, the median home price in Jemez Pueblo is $88,934, with tax bills ranging from $286 at the 25th percentile to $1,968 at the 90th percentile. The zip code 87024 has the highest and lowest median tax bill, both at $651. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Jemez Pueblo Assessed Value
$88,934
Average Sandoval County Assessed Value
$190,579
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jemez Pueblo, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87024 | $7,014 | $39,016 | $88,934 | $161,751 | $260,005 |
Source: Ownwell
Property Tax Bills Across Jemez Pueblo, New Mexico
In Jemez Pueblo, located in Sandoval County, NM, property tax bills are determined based on the assessed value of the home. The assessed value is a percentage of the market value, and this value is then multiplied by the local tax rate. For homeowners in Jemez Pueblo, the median home price is $88,934. The property tax rate in this region can result in varying tax bills, with the 25th percentile tax bill being around $286 and the 75th percentile reaching up to $1,218. At the higher end, the 90th percentile tax bill can soar to approximately $1,968. These tax bills can significantly impact homeowners, influencing their annual budgeting and financial planning. Compared to the national median property tax rate of 0.99%, the property tax rates in Jemez Pueblo may appear more favorable or burdensome depending on individual circumstances and property values. Understanding these factors is crucial for homeowners to manage their financial obligations effectively.
Average Jemez Pueblo Tax Bill
$651
Average Sandoval County Tax Bill
$2,213
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Jemez Pueblo, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87024 | $48 | $286 | $651 | $1,218 | $1,968 |
Source: Ownwell