San Fidel, Cibola County, New Mexico Property Taxes
The median property tax rate in San Fidel, NM is 0.94%, which is slightly lower than the national median of 0.99% but higher than the New Mexico state median of 0.86%. With the median home value in San Fidel at $29,621, the typical annual property tax bill comes to $313, which is significantly below the national median of $2,690. Property taxes in San Fidel are calculated based on the assessed value, which often falls below the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding San Fidel's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of San Fidel or another part of Cibola County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
San Fidel, Cibola County, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$278
$258
Ownwell’s San Fidel Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in San Fidel with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in San Fidel 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 San Fidel, Cibola County, New Mexico
Property taxes in San Fidel, 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 San Fidel is 0.94%, which is slightly below the U.S. national median of 0.99%. Local government entities within San Fidel set these rates annually, and they can vary significantly across different neighborhoods. Each year, San Fidel 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 San Fidel's effective property tax rate to other areas in Cibola County and the national median. For comparison, the zip code 87049 has both the highest and lowest median property tax rate of 0.94%. Understanding how these areas compare with San Fidel provides valuable insights into the varying tax landscape across Cibola County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average San Fidel Tax Rate
0.94%
Average Cibola County Tax Rate
0.98%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across San Fidel, Cibola County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87049 | 0.75% | 0.94% | 0.94% | 0.98% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across San Fidel, Cibola County, New Mexico
In San Fidel, 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 Cibola County Assessor's Office 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 San Fidel, 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 San Fidel helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $313, found in the 87049 zip code.
Property Tax Assessment Values Across San Fidel, Cibola County, New Mexico
Source: Ownwell
$25,925
$63,601
$101,276
Average San Fidel Assessed Value
$29,621
Average Cibola County Assessed Value
$45,831
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across San Fidel, Cibola County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87049 | $4,511 | $9,510 | $29,621 | $67,140 | $177,120 |
Source: Ownwell
Property Tax Bills Across San Fidel, Cibola County, New Mexico
In San Fidel, NM, property tax bills are determined based on the assessed value of a home, which is typically a percentage of its market value. The median home price in San Fidel is $29,621. The county's property tax rate is applied to this assessed value to calculate the tax bill. For instance, the tax bill for the 25th percentile of homes is $97, while at the 75th percentile, it reaches $631. At the 90th percentile, homeowners can expect a tax bill of $1,722. Factors influencing the tax bill include the home's assessed value, the local tax rate, and any applicable exemptions or deductions. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the community. Compared to the national median property tax rate of 0.99%, San Fidel's tax rates can vary significantly, reflecting local economic conditions and public service needs. Homeowners must budget for these taxes as part of their annual housing costs, ensuring they can meet their financial obligations.
Average San Fidel Tax Bill
$313
Average Cibola County Tax Bill
$449
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across San Fidel, Cibola County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87049 | $44 | $97 | $313 | $631 | $1,722 |
Source: Ownwell