Los Alamos, New Mexico Property Taxes
The median property tax rate in Los Alamos, NM is 0.80%, 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 Los Alamos at $304,010, the typical annual property tax bill amounts to $2,407, falling below the national median of $2,690. Property taxes in Los Alamos are determined based on the tax assessed value, often lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Los Alamos'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 Los Alamos 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
Los Alamos, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$2,432
Ownwell’s LOS ALAMOS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LOS ALAMOS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LOS ALAMOS 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 Los Alamos, New Mexico
Property taxes in Los Alamos, 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 Los Alamos is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Los Alamos set these rates annually, and they can vary significantly across different neighborhoods. Each year, Los Alamos 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 Los Alamos's effective property tax rate to other counties in New Mexico and the national median. For comparison, the 87544 zip code has the highest median property tax rate of 0.80%, while the same zip code also has the lowest median tax rate of 0.80%. Understanding how these cities compare with Los Alamos provides valuable insights into the varying tax landscape across Los Alamos County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Los Alamos Tax Rate
0.80%
Average Los Alamos County Tax Rate
0.80%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Los Alamos, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87544 | 0.77% | 0.79% | 0.80% | 0.80% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Los Alamos, New Mexico
In Los Alamos, 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 Los Alamos 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. In Los Alamos, 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 Los Alamos helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median property tax bill in the area is $2,407, with the zip code 87544 reflecting this value.
Average Los Alamos Assessed Value
$304,010
Average Los Alamos County Assessed Value
$312,070
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Los Alamos, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87544 | $121,458 | $189,728 | $304,010 | $442,085 | $589,318 |
Source: Ownwell
Property Tax Bills Across Los Alamos, New Mexico
Property tax bills in Los Alamos, NM, are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's market value, location, and any applicable exemptions. For homeowners in Los Alamos, the median home price is $304,010. The property tax rate in this area is calculated to generate tax bills ranging from $1,498 at the 25th percentile to $4,682 at the 90th percentile. The highest median tax bill in the area is $2,407, which is notably higher than the national median property tax rate of 0.99%. This demonstrates how local property tax rates and assessed values can significantly affect the financial burden on homeowners. Understanding these factors can help homeowners anticipate their annual property tax expenses and plan their budgets accordingly.
Average Los Alamos Tax Bill
$2,407
Average Los Alamos County Tax Bill
$2,472
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Los Alamos, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87544 | $963 | $1,498 | $2,407 | $3,507 | $4,682 |
Source: Ownwell