Taiban, New Mexico Property Taxes
The median property tax rate in Taiban, NM is 0.59%, significantly lower than both the national median of 0.99% and the New Mexico state median of 0.86%. With a median home value of $78,108 in Taiban, the typical annual property tax bill is $435, which is well below the national median of $2,690. Property taxes in Taiban are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of Taiban'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 Taiban or another part of Roosevelt County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Taiban, 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 Taiban Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Taiban with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Taiban 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 Taiban, New Mexico
Property taxes in Taiban, New Mexico, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Taiban is 0.59%, significantly lower than the U.S. national median of 0.99%. Local government entities within Taiban set these rates annually, and they can vary significantly across different neighborhoods. Each year, Taiban 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 Taiban's effective property tax rate to other counties in New Mexico and the national median. For comparison, the zip code 88134 has the highest median property tax rate of 0.59%, while the same zip code also has the lowest median tax rate of 0.59%. Understanding how these cities compare with Taiban provides valuable insights into the varying tax landscape across Roosevelt County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Taiban Tax Rate
0.59%
Average Roosevelt County Tax Rate
0.72%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Taiban, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88134 | 0.51% | 0.52% | 0.59% | 0.66% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Taiban, New Mexico
In Taiban, 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 Roosevelt 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 Taiban, 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 Taiban helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $435.00 in zip code 88134, while the lowest median tax bill is also $435.00 in the same zip code.
Average Taiban Assessed Value
$78,108
Average Roosevelt County Assessed Value
$25,631
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Taiban, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88134 | $21,745 | $36,764 | $78,108 | $118,876 | $132,858 |
Source: Ownwell
Property Tax Bills Across Taiban, New Mexico
In Taiban, located in Roosevelt County, NM, property tax bills are determined by assessing the market value of a home and applying the local tax rate to this value. The median home price in Taiban is $78,108, and the property tax rate is derived from this assessed value. Homeowners here can expect their tax bills to vary; the 25th percentile tax bill is approximately $255, while those in the 75th percentile see bills around $606. At the higher end, the 90th percentile tax bill reaches $695. These figures reflect the range of property values and the corresponding tax obligations. Factors influencing the tax bill include the assessed market value of the property and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Taiban's property tax rates offer a relatively affordable option for homeowners. This can significantly impact the financial planning of residents, making homeownership in Taiban more accessible and manageable.
Average Taiban Tax Bill
$435
Average Roosevelt County Tax Bill
$181
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Taiban, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88134 | $148 | $255 | $435 | $606 | $695 |
Source: Ownwell