Chaves County Property Taxes
The median property tax rate in Chaves County is 0.90%, slightly below the national median of 0.99% but higher than the New Mexico state median of 0.86%. With a median home value of $70,868, the typical annual property tax bill in Chaves County is $601, which is significantly lower than the national median of $2,690. Property taxes in Chaves 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 Chaves 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 Roswell or another part of Chaves County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chaves County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$638
Ownwell’s Chaves County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chaves County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Chaves County 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 Chaves County, New Mexico
Property taxes in Chaves County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Chaves County is 0.90%, which is lower than the U.S. national median of 0.99%. Local government entities within Chaves County set these rates annually, and they can vary significantly between different areas within the county. Each year, Chaves 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 Chaves County's effective property tax rate with other counties in New Mexico and the national median. For comparison, the city of Roswell has one of the higher property tax rates in New Mexico at 0.93%, while the city of Pinon boasts one of the lowest at 0.55%. Analyzing how Chaves County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Chaves County Tax Rate
0.90%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chaves County, New Mexico
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Dexter | 0.52% | 0.66% | 0.74% | 0.88% | 0.88% |
| Elida | 0.30% | 0.30% | 0.30% | 0.30% | 0.30% |
| Flying H | 0.57% | 0.57% | 0.57% | 0.57% | 0.57% |
| Hagerman | 0.50% | 0.50% | 0.72% | 0.74% | 0.74% |
| Hope | 0.51% | 0.55% | 0.56% | 0.58% | 0.61% |
| Lake Arthur | 0.51% | 0.58% | 0.72% | 0.76% | 0.76% |
| Mayhill | 0.55% | 0.55% | 0.57% | 0.61% | 0.62% |
| Pinon | 0.40% | 0.47% | 0.55% | 0.58% | 0.60% |
| Roswell | 0.60% | 0.75% | 0.93% | 0.93% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Chaves County, New Mexico
In Chaves 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 Chaves 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 Chaves 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. The highest median tax bill in Chaves County is found in Flying H at $1,975, while Lake Arthur has the lowest median tax bill at $160. 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 Chaves County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Chaves County, New Mexico
Source: Ownwell
$23,547
$185,640
$347,732
Average Chaves County Assessed Value
$70,868
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chaves County, New Mexico
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Dexter | $4,956 | $10,227 | $29,189 | $70,824 | $128,330 |
| Elida | $294,058 | $294,058 | $294,058 | $294,058 | $294,058 |
| Flying H | $347,732 | $347,732 | $347,732 | $347,732 | $347,732 |
| Hagerman | $5,012 | $11,749 | $25,869 | $68,136 | $115,666 |
| Hope | $48,152 | $74,565 | $106,716 | $155,394 | $182,660 |
| Lake Arthur | $3,342 | $6,610 | $23,547 | $54,056 | $104,826 |
| Mayhill | $52,481 | $68,373 | $95,488 | $132,988 | $167,349 |
| Pinon | $23,813 | $59,281 | $96,058 | $176,034 | $248,328 |
| Roswell | $12,999 | $40,178 | $77,715 | $143,963 | $235,702 |
Source: Ownwell
Property Tax Bills Across Chaves County, New Mexico
In Chaves County, NM, property tax bills are calculated based on the assessed value of a property, which is a percentage of the market value. The local tax rate is then applied to this assessed value. For homeowners, this means that the higher the assessed value of their property, the higher their tax bill will be. Factors such as property size, location, and any improvements made can influence the assessed value. The median home price in Chaves County is $70,868, and tax bills can vary significantly. For instance, tax bills at the 25th percentile are around $270, while those at the 75th percentile can reach $1,177. At the 90th percentile, homeowners might see tax bills as high as $1,938. Comparatively, the highest median tax bill in the county is $1,975 in Flying H, while the lowest is $160 in Lake Arthur. These variations illustrate how property values and local tax rates impact what homeowners owe, affecting their financial planning and budgeting.
Average Chaves County Tax Bill
$601
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Chaves County, New Mexico
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Dexter | $26 | $63 | $208 | $531 | $1,106 |
| Elida | $896 | $896 | $896 | $896 | $896 |
| Flying H | $1,975 | $1,975 | $1,975 | $1,975 | $1,975 |
| Hagerman | $25 | $67 | $173 | $436 | $814 |
| Hope | $256 | $438 | $607 | $868 | $1,056 |
| Lake Arthur | $16 | $37 | $160 | $360 | $667 |
| Mayhill | $326 | $403 | $529 | $746 | $1,009 |
| Pinon | $66 | $331 | $523 | $1,009 | $1,447 |
| Roswell | $87 | $338 | $674 | $1,261 | $2,016 |
Source: Ownwell