Pinehill, New Mexico Property Taxes
The median property tax rate in Pinehill, NM is 0.95%, slightly below the national median of 0.99% but higher than the New Mexico state median of 0.86%. With a median home value of $51,185 in Pinehill, the typical annual property tax bill is $442, which is significantly lower than the national median of $2,690. Property taxes in Pinehill are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Pinehill'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 Pinehill or another part of Cibola County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pinehill, 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 Pinehill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pinehill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pinehill 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 Pinehill, New Mexico
Property taxes in Pinehill, New Mexico, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pinehill is 0.95%, which is lower than the U.S. national median of 0.99%. Local government entities within Pinehill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pinehill 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 Pinehill's effective property tax rate to other counties in New Mexico and the national median. For comparison, the 87357 zip code has both the highest and lowest median property tax rate of 0.95%. Understanding how these cities compare with Pinehill provides valuable insights into the varying tax landscape across Cibola County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pinehill Tax Rate
0.95%
Average Cibola County Tax Rate
0.98%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pinehill, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87357 | 0.77% | 0.94% | 0.95% | 0.98% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Pinehill, New Mexico
In Pinehill, New Mexico, understanding the difference between "market value" and "assessed value" is essential 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 county 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 Pinehill, 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 Pinehill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Pinehill, the median home price is $51,185. The tax bill for the 25th percentile is $241, while the 75th percentile faces a tax bill of $880. The highest median tax bill is $442 in zip code 87357, which also happens to have the lowest median tax bill.
Average Pinehill Assessed Value
$51,185
Average Cibola County Assessed Value
$45,831
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pinehill, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87357 | $14,386 | $26,678 | $51,185 | $94,127 | $152,342 |
Source: Ownwell
Property Tax Bills Across Pinehill, New Mexico
In Pinehill, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is a percentage of the home's market value. For example, with a median home price of $51,185 in Cibola County, the property tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property improvements, location, and market trends can influence the assessed value. Homeowners in Pinehill typically see a range of property tax bills. For instance, the 25th percentile tax bill is around $241, while the 75th percentile reaches up to $880. At the higher end, the 90th percentile tax bill is approximately $1,428. These variations reflect differences in property values and the specific characteristics of each home. Compared to the national median property tax rate of 0.99%, Pinehill homeowners may find their tax bills relatively manageable, although individual circumstances can vary significantly. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Pinehill Tax Bill
$442
Average Cibola County Tax Bill
$449
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Pinehill, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87357 | $120 | $241 | $442 | $880 | $1,428 |
Source: Ownwell