Saint Vrain, New Mexico Property Taxes
The median property tax rate in Saint Vrain, NM is 0.53%, 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 Saint Vrain, the typical annual property tax bill reaches $317, significantly below the national median of $2,690. Property taxes in Saint Vrain 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 Saint Vrain'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 Saint Vrain 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
Saint Vrain, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.53%
Estimate Property Tax Bill
$184
Ownwell’s Saint Vrain Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Saint Vrain with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saint Vrain 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 Saint Vrain, New Mexico
Property taxes in Saint Vrain, New Mexico, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Saint Vrain is 0.53%, significantly lower than both the New Mexico state median and the U.S. national median of 0.99%. Local government entities within Saint Vrain set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saint Vrain 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 Saint Vrain's effective property tax rate to other counties in New Mexico and the national median. For comparison, the 88133 zip code has both the highest and lowest median property tax rate of 0.53%. Understanding how these areas compare with Saint Vrain provides valuable insights into the varying tax landscape across Curry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Saint Vrain Tax Rate
0.53%
Average Curry County Tax Rate
0.85%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Saint Vrain, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88133 | 0.53% | 0.53% | 0.53% | 0.53% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across Saint Vrain, New Mexico
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Saint Vrain, New Mexico. 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 Saint Vrain, 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. In Saint Vrain, the median home price is $34,644, with the highest and lowest median tax bills both at $317 in zip code 88133. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Saint Vrain Assessed Value
$34,644
Average Curry County Assessed Value
$106,130
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Saint Vrain, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88133 | $14,189 | $21,860 | $34,644 | $47,428 | $55,099 |
Source: Ownwell
Property Tax Bills Across Saint Vrain, New Mexico
In Saint Vrain, Curry County, NM, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor's office, which evaluates properties periodically to establish their market worth. The median home price in Saint Vrain is $34,644, and the property tax rate is applied to this assessed value to determine the annual tax bill. The tax bill for homeowners in Saint Vrain typically falls around $317, which is consistent across various percentiles, from the 25th to the 90th. This uniformity suggests a stable tax environment, making it easier for homeowners to predict their annual expenses. Compared to the national median property tax rate of 0.99%, Saint Vrain's property tax rate is relatively straightforward, ensuring that homeowners are not burdened with unexpectedly high costs. This stability in property tax bills provides a sense of financial predictability and security for residents, allowing them to plan their budgets more effectively.
Average Saint Vrain Tax Bill
$317
Average Curry County Tax Bill
$1,019
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Saint Vrain, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88133 | $317 | $317 | $317 | $317 | $317 |
Source: Ownwell