Winston, New Mexico Property Taxes
The median property tax rate in Winston, NM is 0.76%, which is lower than both the national median of 0.99% and the New Mexico state median of 0.86%. With the median home value in Winston at $62,085, the typical annual property tax bill is around $467, significantly less than the national median of $2,690. Property taxes in Winston are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural purposes. Understanding Winston'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 Winston 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
Winston, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$472
Ownwell’s Winston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Winston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Winston 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 Winston, New Mexico
Property taxes in Winston, New Mexico, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Winston is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Winston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Winston 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 Winston's effective property tax rate to other areas in New Mexico and the national median. For comparison, the zip code 87943 has both the highest and lowest median property tax rate in Sierra County, standing at 0.76%. Understanding how these areas compare with Winston provides valuable insights into the varying tax landscape across Sierra County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Winston Tax Rate
0.76%
Average Sierra County Tax Rate
0.77%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Winston, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87943 | 0.67% | 0.72% | 0.76% | 0.76% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Winston, New Mexico
In Winston, 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 Sierra 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 Winston, 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. The median home price in Winston is $62,085, with tax bills ranging from $179 at the 25th percentile to $1,253 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 87943, at $467. Being aware of these valuation processes in Winston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Winston Assessed Value
$62,085
Average Sierra County Assessed Value
$44,145
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Winston, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87943 | $11,801 | $31,152 | $62,085 | $98,450 | $169,079 |
Source: Ownwell
Property Tax Bills Across Winston, New Mexico
In Winston, located in Sierra County, NM, property tax bills are determined based on the assessed value of a home, which is a percentage of the market value. The median home price in Winston is $62,085. Local tax authorities apply the county's tax rate to this assessed value to calculate the annual tax bill. Factors such as property size, location, and any applicable exemptions are also considered. Homeowners in Winston face varying tax bills, with the 25th percentile at $179, the 75th percentile at $746, and the 90th percentile reaching $1,253. This range illustrates how property taxes can significantly impact household budgets, especially when compared to the national median property tax rate of 0.99%. Understanding these factors can help homeowners anticipate their annual financial obligations and better manage their expenses.
Average Winston Tax Bill
$467
Average Sierra County Tax Bill
$335
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Winston, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87943 | $66 | $179 | $467 | $746 | $1,253 |
Source: Ownwell