La Cueva, New Mexico Property Taxes
The median property tax rate in LA CUEVA, NM is 0.75%, which is lower than both the national median of 0.99% and the New Mexico state median of 0.86%. With the median home value in LA CUEVA, the typical annual property tax bill is $65, significantly below the national median of $2,690. Property taxes in LA CUEVA are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding LA CUEVA'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 LA CUEVA 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
La Cueva, 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 LA CUEVA Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in LA CUEVA with ease. By simply entering your property's estimated assessed value, the calculator utilizes the median tax rate in LA CUEVA to provide an accurate estimate of your property tax bill. This valuable tool offers insight into potential tax liabilities, helping you plan and budget effectively. For those interested in more granular data, the trends page offers localized information at the neighborhood level. Your property’s assessed value, determined by Sandoval County, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across La Cueva, New Mexico
Property taxes in LA CUEVA, 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 LA CUEVA is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within LA CUEVA set these rates annually, and they can vary significantly across different neighborhoods. Each year, LA CUEVA 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 LA CUEVA's effective property tax rate to other areas in New Mexico and the national median. For comparison, the zip code 87535 has both the highest and lowest median property tax rate of 0.75%. Understanding how these areas compare with LA CUEVA 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 La Cueva 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 La Cueva, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87535 | 0.75% | 0.75% | 0.75% | 0.75% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across La Cueva, New Mexico
In LA CUEVA, 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 LA CUEVA, 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 LA CUEVA helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average La Cueva Assessed Value
$8,717
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 La Cueva, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87535 | $8,717 | $8,717 | $8,717 | $8,717 | $8,717 |
Source: Ownwell
Property Tax Bills Across La Cueva, New Mexico
In LA CUEVA, located in Sandoval County, NM, property tax bills are calculated based on the assessed value of a property, which is derived from the market value. The median home price in this area is $8,717. Property taxes are influenced by various factors, including the property's assessed value and the local tax rate. The national median property tax rate stands at 0.99%, but local rates can vary. For homeowners in LA CUEVA, tax bills are relatively consistent, with the 25th, 75th, and 90th percentiles all reporting a tax bill of $65. This consistency suggests a stable tax environment, which can be beneficial for financial planning. However, even small fluctuations in assessed property values or tax rates can impact the amount homeowners owe annually. Understanding these factors is crucial for homeowners aiming to manage their property expenses effectively. By staying informed about local tax policies and market trends, homeowners can better anticipate and plan for their annual property tax obligations.
Average La Cueva Tax Bill
$65
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 La Cueva, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87535 | $65 | $65 | $65 | $65 | $65 |
Source: Ownwell