Bernalillo County, New Mexico Property Taxes
The median property tax rate in Bernalillo County is 1.38%, which is significantly higher than both the national median of 0.99% and the New Mexico state median of 0.86%. With the median home value in Bernalillo County at $164,969, the typical annual property tax bill is $2,460, which is slightly below the national median of $2,690. Property taxes in Bernalillo County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Bernalillo County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Albuquerque or another part of Bernalillo County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bernalillo County, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.38%
Estimate Property Tax Bill
$2,277
$2,113
Ownwell’s Bernalillo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Bernalillo with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Bernalillo to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Bernalillo County, New Mexico
Property taxes in Bernalillo County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Bernalillo County is 1.38%, which is higher than the U.S. national median of 0.99%. Local government entities within Bernalillo County set these rates annually, and they can vary significantly between different areas within the county. Each year, Bernalillo County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Bernalillo County's effective property tax rate with other areas in New Mexico. For comparison, the city of Rio Rancho has one of the higher property tax rates in New Mexico at 1.42%, while the city of Edgewood boasts one of the lowest at 0.90%. Analyzing how Bernalillo County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Bernalillo County Tax Rate
1.38%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bernalillo County, New Mexico
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Albuquerque | 1.15% | 1.35% | 1.38% | 1.42% | 1.53% |
| Cedar Crest | 0.97% | 0.99% | 0.99% | 1.00% | 1.01% |
| Corrales | 1.01% | 1.01% | 1.02% | 1.02% | 1.03% |
| Edgewood | 0.87% | 0.89% | 0.90% | 0.92% | 1.05% |
| Isleta | N/A | N/A | N/A | N/A | N/A |
| Laguna | N/A | N/A | N/A | N/A | N/A |
| Los Ranchos | 1.19% | 1.21% | 1.23% | 1.24% | 1.25% |
| Los Ranchos De Albuquerque | N/A | N/A | N/A | N/A | N/A |
| Rio Rancho | N/A | N/A | N/A | N/A | N/A |
| Sandia Park | 0.96% | 0.98% | 1.00% | 1.00% | 1.02% |
| Tijeras | 0.88% | 0.96% | 0.99% | 1.01% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Bernalillo County, New Mexico
In Bernalillo County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Bernalillo County Appraisal District. The assessed value, however, 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 Bernalillo County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Bernalillo County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. Notably, Los Ranchos de Albuquerque has the highest median tax bill at $7,279, while Laguna has the lowest at $671.
Property Tax Assessment Values Across Bernalillo County, New Mexico
Source: Ownwell
$69,800
$279,013
$488,226
Average Bernalillo County Assessed Value
$164,969
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bernalillo County, New Mexico
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Albuquerque | $15,564 | $107,194 | $164,600 | $232,867 | $338,847 |
| Cedar Crest | $7,480 | $99,054 | $223,564 | $299,491 | $366,349 |
| Corrales | $173,471 | $192,422 | $236,651 | $297,782 | $369,366 |
| Edgewood | $5,300 | $16,800 | $69,800 | $209,768 | $309,576 |
| Isleta | N/A | N/A | N/A | N/A | N/A |
| Laguna | N/A | N/A | N/A | N/A | N/A |
| Los Ranchos | $4,590 | $137,094 | $258,449 | $493,890 | $751,889 |
| Los Ranchos De Albuquerque | N/A | N/A | N/A | N/A | N/A |
| Rio Rancho | N/A | N/A | N/A | N/A | N/A |
| Sandia Park | $22,610 | $114,802 | $209,720 | $348,695 | $465,448 |
| Tijeras | $5,140 | $19,600 | $129,429 | $248,138 | $369,346 |
Source: Ownwell
Property Tax Bills Across Bernalillo County, New Mexico
In Bernalillo County, NM, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor's office. This assessed value is a percentage of the property's market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Homeowners in Bernalillo County experience a range of property tax bills, influenced by factors such as the property's location, size, and condition. For instance, the median home price in the county is $164,969, with tax bills varying significantly across different percentiles. The 25th percentile tax bill is approximately $1,730, while the 75th percentile reaches around $3,505, and the 90th percentile can be as high as $5,145. The highest median tax bill is found in Los Ranchos de Albuquerque at $7,279, whereas Laguna has the lowest at $671. These variations highlight the significant impact of property values and local tax rates on homeowners' tax obligations in Bernalillo County.
Average Bernalillo County Tax Bill
$2,460
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Bernalillo County, New Mexico
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Albuquerque | $1,210 | $1,739 | $2,464 | $3,500 | $5,132 |
| Cedar Crest | $1,227 | $1,895 | $2,479 | $3,260 | $3,859 |
| Corrales | $1,748 | $1,992 | $2,421 | $3,095 | $3,806 |
| Edgewood | $281 | $621 | $1,529 | $2,331 | $3,268 |
| Isleta | N/A | N/A | N/A | N/A | N/A |
| Laguna | N/A | N/A | N/A | N/A | N/A |
| Los Ranchos | $1,648 | $2,379 | $3,946 | $6,967 | $9,989 |
| Los Ranchos De Albuquerque | N/A | N/A | N/A | N/A | N/A |
| Rio Rancho | N/A | N/A | N/A | N/A | N/A |
| Sandia Park | $868 | $1,477 | $2,364 | $3,664 | $4,913 |
| Tijeras | $345 | $1,103 | $1,960 | $2,990 | $4,213 |
Source: Ownwell