Gallina, New Mexico Property Taxes
The median property tax rate in Gallina, NM is 0.58%, 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 Gallina, the typical annual property tax bill is $106, far below the national median of $2,690. Property taxes in Gallina are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Gallina'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 Gallina or another part of Rio Arriba County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gallina, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$95
Ownwell’s GALLINA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in GALLINA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in GALLINA 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 Gallina, New Mexico
Property taxes in Gallina, 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 Gallina is 0.58%, lower than both the New Mexico state median and the U.S. national median of 0.99%. Local government entities within Gallina set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gallina 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 Gallina's effective property tax rate to other areas in New Mexico and the national median. For comparison, the 87017 zip code has both the highest and lowest median property tax rate of 0.58%. Understanding how these cities compare with Gallina 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 Gallina Tax Rate
0.58%
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 Gallina, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87017 | 0.41% | 0.52% | 0.58% | 0.62% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Gallina, New Mexico
In Gallina, 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 in Gallina 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 Gallina helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Gallina are both $106, associated with the zip code 87017.
Average Gallina Assessed Value
$16,300
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 Gallina, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87017 | $5,480 | $9,431 | $16,300 | $46,577 | $94,053 |
Source: Ownwell
Property Tax Bills Across Gallina, New Mexico
In Gallina, located in Rio Arriba County, NM, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is a percentage of the property's market value, and the tax rate is applied to this assessed value to determine the annual tax bill. For homeowners in Gallina, the median home price is $16,300. Property tax bills can vary significantly, with the 25th percentile at $63 and the 75th percentile at $280, reflecting the differences in property values and exemptions. At the 90th percentile, tax bills can reach up to $578. This means that while some homeowners may have relatively low property tax bills, others could face higher amounts depending on their property's assessed value. Compared to the national median property tax rate of 0.99%, Gallina's rates can be seen as relatively modest, making it an appealing location for those looking to minimize their property tax expenses.
Average Gallina Tax Bill
$106
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 Gallina, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87017 | $45 | $63 | $106 | $280 | $578 |
Source: Ownwell