Youngsville, New Mexico Property Taxes
The median property tax rate in Youngsville, NM is 0.58%, significantly lower than the national median of 0.99% and the New Mexico state median of 0.86%. With the median home value in Youngsville, the typical annual property tax bill is $151, far below the national median of $2,690. Property taxes in Youngsville are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Youngsville'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 Youngsville 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
Youngsville, New Mexico Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$1,720
Ownwell’s Youngsville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Youngsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Youngsville 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 Youngsville, New Mexico
Property taxes in Youngsville, 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 Youngsville is 0.58%, which is lower than the U.S. national median of 0.99%. Local government entities in Youngsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Youngsville 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 Youngsville's effective property tax rate to other regions in New Mexico and the national median. For comparison, the zip code 87064 has both the highest and lowest median property tax rate of 0.58%. Understanding how these areas compare with Youngsville 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 Youngsville 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 Youngsville, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87064 | 0.58% | 0.58% | 0.58% | 0.62% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Youngsville, New Mexico
In Youngsville, 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. In Youngsville, 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 Youngsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 87064 has both the highest and lowest median tax bill, standing at $151.
Average Youngsville Assessed Value
$22,000
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 Youngsville, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87064 | $3,631 | $9,730 | $22,000 | $71,630 | $238,082 |
Source: Ownwell
Property Tax Bills Across Youngsville, New Mexico
In Youngsville, Rio Arriba County, NM, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the county assessor, who evaluates the property's market value and then applies an assessment ratio to arrive at the assessed value. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. Several factors influence the assessed value, including the property's location, size, age, and condition. Additionally, any improvements or renovations can affect the property's market value and subsequently its assessed value. For homeowners, understanding these factors is crucial as they directly impact the amount they owe in property taxes. In Youngsville, the median home price is $22,000, with tax bills varying significantly. The 25th percentile tax bill is $91, while those in the 75th percentile pay around $607. At the 90th percentile, tax bills can reach up to $1,536. This variation highlights how different property characteristics and assessments can lead to a wide range of tax obligations for homeowners in the area.
Average Youngsville Tax Bill
$151
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 Youngsville, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87064 | $56 | $91 | $151 | $607 | $1,536 |
Source: Ownwell