Cebolla, New Mexico Property Taxes
The median property tax rate in Cebolla, NM is 0.75%, 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 Cebolla at $31,547, the typical annual property tax bill reaches $260, well below the national median of $2,690. Property taxes in Cebolla 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 Cebolla'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 Cebolla 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
Cebolla, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$237
Ownwell’s Cebolla Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Cebolla with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Cebolla to provide an estimated property tax bill. This valuable tool offers clarity on potential tax liabilities. For those interested in more localized trends, additional neighborhood-level information is available below. Your property’s assessed value is determined by the county for property tax purposes, taking into consideration any applicable exemptions.
Property Tax Rates Across Cebolla, New Mexico
Property taxes in Cebolla, New Mexico, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cebolla is 0.75%, lower than both the New Mexico state median and the U.S. national median of 0.99%. Local government entities within Cebolla set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cebolla 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 Cebolla's effective property tax rate to other counties in New Mexico and the national median. For comparison, the 87518 zip code has the highest median property tax rate of 0.75%, while the 87518 zip code also has the lowest median tax rate of 0.75%. Understanding how these cities compare with Cebolla provides valuable insights into the varying tax landscape across Rio Arriba County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cebolla Tax Rate
0.75%
Average Rio Arriba County Tax Rate
0.79%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cebolla, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87518 | 0.68% | 0.75% | 0.75% | 0.76% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Cebolla, New Mexico
In Cebolla, 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 Rio Arriba 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 Cebolla, 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. For example, the median home price in Cebolla is $31,547, with tax bills ranging from $100 at the 25th percentile to $1,182 at the 90th percentile. The zip code 87518 has the highest and lowest median tax bill at $260. 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 Cebolla helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cebolla Assessed Value
$31,547
Average Rio Arriba County Assessed Value
$17,854
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cebolla, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87518 | $9,571 | $15,754 | $31,547 | $77,473 | $136,486 |
Source: Ownwell
Property Tax Bills Across Cebolla, New Mexico
In Cebolla, Rio Arriba County, NM, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is a percentage of the market value, reflecting the property's worth in the current real estate market. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For homeowners in Cebolla, the median home price is $31,547. Property tax bills can vary significantly, with the 25th percentile paying around $100 and the 75th percentile paying up to $616. The highest median tax bill in the area is $260, found in the zip code 87518. These taxes fund essential public services such as schools, infrastructure, and emergency services, impacting the overall community quality. Compared to the national median property tax rate of 0.99%, Cebolla's property tax rates offer a more affordable option for homeowners, making it an attractive place for those looking to manage their property expenses effectively.
Average Cebolla Tax Bill
$260
Average Rio Arriba County Tax Bill
$215
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Cebolla, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87518 | $77 | $100 | $260 | $616 | $1,182 |
Source: Ownwell