Los Alamos, New Mexico Property Taxes
The median property tax rate in Los Alamos, NM is 0.72%, considerably lower than both the national median of 0.99% and the New Mexico state median of 0.86%. With the median home value in Los Alamos, the typical annual property tax bill reaches $83, significantly below the national median of $2,690. Property taxes in Los Alamos 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 Los Alamos'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 Los Alamos 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
Los Alamos, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$83
Ownwell’s LOS ALAMOS Property Tax Bill Calculator enables homeowners, real estate investors, and potential owners to estimate their annual property taxes in LOS ALAMOS with just two data points. By entering your property's estimated assessed value, the calculator utilizes the median tax rate in LOS ALAMOS to provide an estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities. For those interested in observing trends on a neighborhood level, further localized information is available as you scroll down. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Los Alamos, New Mexico
Property taxes in Los Alamos, 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 Los Alamos is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Los Alamos set these rates annually, and they can vary significantly across different neighborhoods. Each year, Los Alamos 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 Los Alamos's effective property tax rate to other counties in New Mexico and the national median. For comparison, the 87544 zip code has both the highest and lowest median property tax rate of 0.72%. Understanding how these areas compare with Los Alamos provides valuable insights into the varying tax landscape across Santa Fe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Los Alamos Tax Rate
0.72%
Average Santa Fe County Tax Rate
0.55%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Los Alamos, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87544 | 0.72% | 0.72% | 0.72% | 0.74% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Los Alamos, New Mexico
In Los Alamos, 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 local appraisal district 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 Los Alamos, 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 Los Alamos helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest tax bill is 87544 at $118, while the lowest is 87547 at $46.
Average Los Alamos Assessed Value
$11,478
Average Santa Fe County Assessed Value
$365,234
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Los Alamos, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87544 | $5,820 | $6,280 | $11,478 | $16,422 | $16,422 |
Source: Ownwell
Property Tax Bills Across Los Alamos, New Mexico
In Los Alamos, Santa Fe County, NM, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the home's market value. Once the assessed value is determined, the local tax rate is applied to calculate the annual property tax bill. Several factors influence the final tax bill, including property location, improvements, and exemptions. Homeowners in Los Alamos benefit from relatively lower property tax rates compared to the national median of 0.99%. For example, properties in the 25th percentile of tax bills pay around $46 annually, while those in the 75th and 90th percentiles pay approximately $118. These property tax rates can significantly impact homeowners, influencing their overall housing costs and long-term financial planning. Lower property taxes can make homeownership more affordable, potentially increasing the attractiveness of living in Los Alamos.
Average Los Alamos Tax Bill
$83
Average Santa Fe County Tax Bill
$1,886
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Los Alamos, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87544 | $44 | $46 | $83 | $118 | $118 |
Source: Ownwell