Yorba Linda, New Mexico Property Taxes
The median property tax rate in Yorba Linda, NM is 0.78%, which is below both the national median of 0.99% and the New Mexico state median of 0.86%. With the median home value in Yorba Linda, the typical annual property tax bill is $104, significantly lower than the national median of $2,690. Property taxes in Yorba Linda are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Yorba Linda'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 Yorba Linda 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
Yorba Linda, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$104
Ownwell’s Yorba Linda Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Yorba Linda with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Yorba Linda 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 Yorba Linda, New Mexico
Property taxes in Yorba Linda, 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 Yorba Linda is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Yorba Linda set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yorba Linda 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 Yorba Linda's effective property tax rate to other counties in New Mexico and the national median. For comparison, the zip code 92887 has both the highest and lowest median property tax rate of 0.78%. Understanding how these areas compare with Yorba Linda 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 Yorba Linda Tax Rate
0.78%
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 Yorba Linda, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 92887 | 0.78% | 0.78% | 0.78% | 0.78% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Yorba Linda, New Mexico
In Yorba Linda, 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 Santa Fe County Assessor's Office 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. 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 Yorba Linda helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 92887 in Yorba Linda has both the highest and lowest median tax bill at $104.
Average Yorba Linda Assessed Value
$13,297
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 Yorba Linda, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 92887 | $13,297 | $13,297 | $13,297 | $13,297 | $13,297 |
Source: Ownwell
Property Tax Bills Across Yorba Linda, New Mexico
In Yorba Linda, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is typically a percentage of the property's market value. For homeowners in Yorba Linda, located in Santa Fe County, NM, the median home price is relatively low at $13,297, which directly influences the property tax bill. Property taxes are calculated by multiplying the assessed value by the local tax rate. In this region, the tax rate aligns with the national median property tax rate of 0.99%. Factors such as property improvements, neighborhood changes, and market trends can affect the assessed value, and consequently, the tax bill. Homeowners in Yorba Linda can expect a tax bill around $104, which is consistent across various percentiles, indicating a stable tax environment. This relatively low tax obligation can make homeownership more affordable and predictable, allowing residents to better manage their financial planning and investments.
Average Yorba Linda Tax Bill
$104
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 Yorba Linda, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 92887 | $104 | $104 | $104 | $104 | $104 |
Source: Ownwell