Orogrande, New Mexico Property Taxes
The median property tax rate in Orogrande, NM is 0.63%, which is significantly lower than both the national median of 0.99% and the New Mexico state median of 0.86%. With the median home value in Orogrande at $23,540, the typical annual property tax bill is $138, much lower than the national median of $2,690. Property taxes in Orogrande are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Orogrande'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 Orogrande 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
Orogrande, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$148
Ownwell’s Orogrande Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Orogrande with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Orogrande 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 Orogrande, New Mexico
Property taxes in Orogrande, New Mexico, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Orogrande is 0.63%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Orogrande set these rates annually, and they can vary significantly across different neighborhoods. Each year, Orogrande 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 Orogrande's effective property tax rate to other counties in New Mexico and the national median. For comparison, the zip code 88342 has both the highest and lowest median property tax rate of 0.63%. Understanding how these cities compare with Orogrande provides valuable insights into the varying tax landscape across Otero County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Orogrande Tax Rate
0.63%
Average Otero County Tax Rate
0.80%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Orogrande, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88342 | 0.45% | 0.56% | 0.63% | 0.63% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Orogrande, New Mexico
In Orogrande, 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 Otero 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 Orogrande, 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. The median home price in Orogrande is $23,540, with tax bills ranging from $98 at the 25th percentile to $331 at the 90th percentile. 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 Orogrande helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Orogrande Assessed Value
$23,540
Average Otero County Assessed Value
$117,358
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Orogrande, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88342 | $14,831 | $18,837 | $23,540 | $35,649 | $51,091 |
Source: Ownwell
Property Tax Bills Across Orogrande, New Mexico
In Orogrande, located in Otero County, NM, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is a percentage of the property's market value. The median home price in Orogrande is $23,540. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. The national median property tax rate is 0.99%, but local rates can vary. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Orogrande, the annual tax bill can range significantly. For instance, those in the 25th percentile pay around $98, while those in the 75th percentile pay approximately $233. At the 90th percentile, the tax bill can reach up to $331. Understanding these factors helps homeowners anticipate their property tax obligations and budget accordingly, ensuring they are prepared for their annual payments.
Average Orogrande Tax Bill
$138
Average Otero County Tax Bill
$861
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Orogrande, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88342 | $80 | $98 | $138 | $233 | $331 |
Source: Ownwell