Dulce, New Mexico Property Taxes
In Dulce, NM, the median property tax rate is 0.61%, 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 Dulce, the typical annual property tax bill amounts to just $126, well below the national median of $2,690. Property taxes in Dulce are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Dulce's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Dulce or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dulce, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$114
Ownwell’s Dulce Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dulce with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dulce 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 Dulce, New Mexico
Property taxes in Dulce, New Mexico, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dulce is 0.61%, which is lower than the U.S. national median of 0.99%. Local government entities within Dulce set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dulce 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 Dulce's effective property tax rate to other areas in New Mexico and the national median. For comparison, the zip code 87528 in Rio Arriba County has the same median property tax rate of 0.61%, highlighting a consistent tax landscape within the region. Understanding how these areas compare with Dulce 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 Dulce Tax Rate
0.61%
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 Dulce, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87528 | 0.48% | 0.59% | 0.61% | 0.64% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Dulce, New Mexico
In Dulce, 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 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. 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 Dulce helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 87528 has both the highest and lowest median tax bills at $126.
Average Dulce Assessed Value
$18,620
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 Dulce, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87528 | $2,960 | $8,218 | $19,678 | $42,303 | $72,060 |
Source: Ownwell
Property Tax Bills Across Dulce, New Mexico
In Dulce, located in Rio Arriba County, NM, property tax bills are determined based on the assessed value of a property. This assessed value is a percentage of the property's market value, which is then multiplied by the local tax rate to calculate the annual tax bill. The median home price in Dulce is $18,620, and the property tax rate is applied to this value to determine the tax owed by homeowners. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. For instance, the 25th percentile tax bill in Dulce is $53, while the 75th percentile tax bill is $268, and the 90th percentile tax bill can reach up to $480. These variations show how different factors can significantly impact the amount homeowners pay. Compared to the national median property tax rate of 0.99%, Dulce's rate provides a relatively affordable tax environment for its residents, making it an attractive option for homeowners looking to manage their annual expenses efficiently.
Average Dulce Tax Bill
$126
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 Dulce, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87528 | $25 | $53 | $126 | $268 | $480 |
Source: Ownwell