La Mesilla, New Mexico Property Taxes
The median property tax rate in LA MESILLA, NM is 0.83%, slightly lower than both the national median of 0.99% and the New Mexico state median of 0.86%. With the median home value in LA MESILLA, the typical annual property tax bill reaches $1,195, which is still below the national median of $2,690. Property taxes in LA MESILLA 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 LA MESILLA'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 LA MESILLA 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
La Mesilla, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$79
Ownwell’s LA MESILLA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LA MESILLA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LA MESILLA 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 La Mesilla, New Mexico
Property taxes in LA MESILLA, New Mexico, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in LA MESILLA is 0.83%, lower than both the New Mexico state median and the U.S. national median of 0.99%. Local government entities within LA MESILLA set these rates annually, and they can vary significantly across different neighborhoods. Each year, LA MESILLA 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 LA MESILLA's effective property tax rate to other areas in New Mexico and the national median. For comparison, the 87532 zip code has the highest median property tax rate of 0.83%, while the same 87532 zip code also has the lowest median tax rate of 0.83%. Understanding how these areas compare with LA MESILLA 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 La Mesilla Tax Rate
0.83%
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 La Mesilla, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87532 | 0.80% | 0.81% | 0.83% | 0.84% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across La Mesilla, New Mexico
In LA MESILLA, 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 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 LA MESILLA, 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. For instance, the median home price in LA MESILLA is $9,525, with tax bills ranging from $635 at the 25th percentile to $2,090 at the 90th percentile. The zip code 87532 has both the highest and lowest median tax bill at $1,195. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average La Mesilla Assessed Value
$9,525
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 La Mesilla, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87532 | $6,475 | $7,619 | $9,525 | $139,342 | $217,231 |
Source: Ownwell
Property Tax Bills Across La Mesilla, New Mexico
In La Mesilla, Rio Arriba County, NM, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and typically reflects a percentage of the property's market value. Homeowners in La Mesilla can expect their property tax bills to vary significantly. For instance, the 25th percentile of tax bills is around $635, while the 75th percentile reaches up to $1,755, and the 90th percentile can be as high as $2,090. These figures demonstrate the range of property tax burdens within the area. Comparatively, the national median property tax rate is 0.99%, and understanding how local rates measure against this can help homeowners gauge their relative tax burden. Factors such as property improvements, neighborhood developments, and changes in local government budgets can influence tax assessments and rates. For homeowners, these taxes are a crucial part of budgeting for homeownership, impacting long-term financial planning and the overall cost of maintaining their property.
Average La Mesilla Tax Bill
$1,195
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 La Mesilla, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87532 | $300 | $635 | $1,195 | $1,755 | $2,090 |
Source: Ownwell