Pinehill, New Mexico Property Taxes
The median property tax rate in Pinehill, NM is 0.98%, 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 $361,830 in Pinehill, the typical annual property tax bill is $3,534, surpassing the national median of $2,690. Property taxes in Pinehill are calculated based on the assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural properties. 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 McKinley County, understanding 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, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pinehill is 0.98%, which is slightly below 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 0.98%. Understanding how these cities compare with Pinehill provides valuable insights into the varying tax landscape across McKinley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pinehill Tax Rate
0.98%
Average Mckinley County Tax Rate
1.20%
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 | 0.98% | 0.98% | 0.98% | 0.98% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Pinehill, New Mexico
In Pinehill, 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 McKinley 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 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 $361,830, and the median tax bill stands at $3,534. The zip code 87357 has both the highest and lowest median tax bills at $3,534.
Average Pinehill Assessed Value
$361,830
Average Mckinley County Assessed Value
$79,030
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 | $361,830 | $361,830 | $361,830 | $361,830 | $361,830 |
Source: Ownwell
Property Tax Bills Across Pinehill, New Mexico
In Pinehill, McKinley County, NM, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The tax rate is applied to this assessed value to determine the annual tax bill. Factors influencing the tax bill include the home's market value, local tax rates, and any applicable exemptions or deductions. Homeowners in Pinehill experience a median property tax bill of $3,534, which is significantly higher than the national median property tax rate of 0.99%. This higher tax bill can be attributed to the relatively high median home price of $361,830 in the area. For homeowners, this means that property taxes can represent a substantial portion of their annual expenses, impacting their overall financial planning. Understanding how these taxes are calculated and what factors affect them can help homeowners better anticipate and manage their property-related costs.
Average Pinehill Tax Bill
$3,534
Average Mckinley County Tax Bill
$899
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 | $3,534 | $3,534 | $3,534 | $3,534 | $3,534 |
Source: Ownwell