Yeso, New Mexico Property Taxes
The median property tax rate in YESO, NM is 0.76%, which is lower than both the national median of 0.99% and the New Mexico state median of 0.86%. With the median home value in YESO at $55,434, the typical annual property tax bill is $431, significantly below the national median of $2,690. Property taxes in YESO are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding YESO'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 YESO 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
Yeso, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$421
Ownwell’s YESO Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in YESO with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in YESO 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 Yeso, New Mexico
Property taxes in YESO, New Mexico, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in YESO is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within YESO set these rates annually, and they can vary across different neighborhoods. Each year, YESO 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 YESO's effective property tax rate to other areas in De Baca County and the national median. For comparison, the zip code 88136 has both the highest and lowest median property tax rate of 0.76%. Understanding how these areas compare with YESO provides valuable insights into the varying tax landscape across De Baca County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Yeso Tax Rate
0.76%
Average De Baca County Tax Rate
0.78%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Yeso, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88136 | 0.68% | 0.74% | 0.76% | 0.77% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Yeso, New Mexico
In YESO, 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 De Baca County 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 YESO, 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 YESO helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in YESO both stand at $431.00, specifically in the 88136 zip code.
Average Yeso Assessed Value
$55,434
Average De Baca County Assessed Value
$35,902
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Yeso, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88136 | $3,035 | $25,161 | $55,434 | $87,810 | $107,489 |
Source: Ownwell
Property Tax Bills Across Yeso, New Mexico
Property tax bills in YESO, located in De Baca County, NM, are calculated based on the assessed value of a property, which is typically a percentage of its market value. The median home price in YESO is $55,434. The property tax rate in this region is applied to the assessed value to determine the annual tax bill. Factors influencing the tax bill include property location, size, and any applicable exemptions or deductions. For homeowners in YESO, property tax bills can vary significantly. The 25th percentile tax bill is approximately $190, while the 75th percentile tax bill reaches around $636. At the 90th percentile, homeowners could see tax bills as high as $820. The highest median tax bill in the area is $431, which is also the lowest median tax bill, indicating some uniformity in tax assessments within the 88136 zip code. These tax bills can impact homeowners' financial planning and budgeting, making it essential to understand how local property tax rates compare to the national median property tax rate of 0.99%.
Average Yeso Tax Bill
$431
Average De Baca County Tax Bill
$297
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Yeso, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88136 | $24 | $190 | $431 | $636 | $820 |
Source: Ownwell