Sierra County Property Taxes
The median property tax rate in Sierra County is 0.77%, which is notably lower than both the national median of 0.99% and the New Mexico state median of 0.86%. With the median home value in Sierra County, the typical annual property tax bill is $335, significantly below the national median of $2,690. Property taxes in Sierra County are calculated based on the assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Sierra County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Truth or Consequences or another part of Sierra County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sierra County 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 Sierra County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Sierra County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Sierra County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Sierra County, New Mexico
Property taxes in Sierra County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Sierra County is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Sierra County set these rates annually, and they can vary significantly between different areas within the county. Each year, Sierra County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Sierra County's effective property tax rate with other areas in New Mexico and the national median. For comparison, the city of Elephant Butte has one of the higher property tax rates in New Mexico at 0.90%, while the city of Arrey boasts one of the lowest at 0.72%. Analyzing how Sierra County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Sierra County Tax Rate
0.77%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sierra County, New Mexico
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Arrey | 0.62% | 0.72% | 0.72% | 0.76% | 0.76% |
| Caballo | 0.65% | 0.72% | 0.76% | 0.76% | 0.77% |
| Deming | 0.76% | 0.76% | 0.76% | 0.76% | 0.76% |
| Derry | 0.72% | 0.72% | 0.76% | 0.76% | 0.78% |
| Elephant Butte | 0.76% | 0.86% | 0.90% | 0.90% | 0.90% |
| Hillsboro | 0.70% | 0.73% | 0.76% | 0.76% | 0.76% |
| Monticello | 0.72% | 0.72% | 0.76% | 0.76% | 0.77% |
| Silver City | 0.81% | 0.81% | 0.81% | 0.81% | 0.81% |
| T Or C | 0.39% | 0.73% | 0.81% | 0.81% | 0.81% |
| Truth Or Consequences | 0.68% | 0.76% | 0.79% | 0.81% | 0.81% |
| Williamsburg | 0.64% | 0.72% | 0.76% | 0.81% | 0.81% |
| Winston | 0.67% | 0.72% | 0.76% | 0.76% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Sierra County, New Mexico
In Sierra County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Sierra County Appraisal District. The assessed value, however, 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 in Sierra County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Sierra County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. Notably, Deming has the highest median tax bill at $2,499, while T or C has the lowest at $115.
Property Tax Assessment Values Across Sierra County, New Mexico
Source: Ownwell
$16,624
$173,383
$330,141
Average Sierra County Assessed Value
$44,145
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sierra County, New Mexico
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Arrey | $3,441 | $6,504 | $28,329 | $59,202 | $96,816 |
| Caballo | $5,977 | $20,630 | $45,510 | $98,266 | $162,704 |
| Deming | $125,675 | $202,350 | $330,141 | $330,372 | $330,511 |
| Derry | $8,625 | $40,412 | $71,007 | $134,579 | $206,702 |
| Elephant Butte | $12,340 | $27,534 | $81,117 | $148,293 | $209,343 |
| Hillsboro | $34,074 | $61,200 | $104,232 | $177,972 | $302,243 |
| Monticello | $9,231 | $37,590 | $82,926 | $137,440 | $179,898 |
| Silver City | $64,971 | $64,971 | $64,971 | $64,971 | $64,971 |
| T Or C | $5,386 | $12,514 | $16,624 | $49,659 | $65,216 |
| Truth Or Consequences | $5,577 | $16,974 | $49,846 | $94,241 | $150,856 |
| Williamsburg | $6,650 | $24,398 | $52,296 | $97,339 | $151,797 |
| Winston | $11,801 | $31,152 | $62,085 | $98,450 | $169,079 |
Source: Ownwell
Property Tax Bills Across Sierra County, New Mexico
In Sierra County, NM, property tax bills are calculated based on the assessed value of the property and the applicable tax rate. The assessed value is determined by the county assessor and is a percentage of the property's market value. Homeowners then multiply this assessed value by the local tax rate to determine their annual tax bill. For instance, the median home price in Sierra County is $44,145, which can result in varying tax bills depending on the specific assessed value and applicable tax rate. Tax bills can range significantly within the county. The 25th percentile of tax bills is around $103, while the 75th percentile reaches $748. At the 90th percentile, tax bills can go up to $1,310, showing a wide range of potential costs for homeowners. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding how local rates might differ. In Sierra County, the highest median tax bill is found in Deming at $2,499, while the lowest is in T or C at $115, illustrating the variability within the region.
Average Sierra County Tax Bill
$335
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Sierra County, New Mexico
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Arrey | $23 | $39 | $192 | $396 | $688 |
| Caballo | $39 | $123 | $301 | $701 | $1,234 |
| Deming | $952 | $1,532 | $2,499 | $2,500 | $2,500 |
| Derry | $68 | $288 | $512 | $1,035 | $1,639 |
| Elephant Butte | $89 | $221 | $608 | $1,260 | $1,807 |
| Hillsboro | $251 | $464 | $767 | $1,356 | $2,280 |
| Monticello | $114 | $287 | $603 | $1,006 | $1,357 |
| Silver City | $525 | $525 | $525 | $525 | $525 |
| T Or C | $49 | $64 | $115 | $149 | $535 |
| Truth Or Consequences | $42 | $123 | $375 | $724 | $1,172 |
| Williamsburg | $47 | $175 | $378 | $716 | $1,137 |
| Winston | $66 | $179 | $467 | $746 | $1,253 |
Source: Ownwell