Angel Fire, Colfax County, New Mexico Property Taxes
The median property tax rate in Angel Fire, NM is 1.00%, slightly higher than both the national median of 0.99% and the New Mexico state median of 0.86%. With the median home value in Angel Fire at $249,902, the typical annual property tax bill reaches $2,354, which is below the national median of $2,690. Property taxes in Angel Fire 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 properties. Understanding Angel Fire'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 Angel Fire or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Angel Fire, Colfax County, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$2,499
$2,319
Ownwell’s Angel Fire Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Angel Fire with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Angel Fire 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 Colfax County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Angel Fire, Colfax County, New Mexico
Property taxes in Angel Fire, 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 Angel Fire is 1.00%, which is higher than the U.S. national median of 0.99%. Local government entities within Angel Fire set these rates annually, and they can vary significantly across different neighborhoods. Each year, Angel Fire 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 Angel Fire's effective property tax rate to other areas in Colfax County and the national median. For comparison, the 87710 zip code has the highest median property tax rate of 1.00%, while the 87714 zip code has the lowest median tax rate of 1.00%. Understanding how these areas compare with Angel Fire provides valuable insights into the varying tax landscape across Colfax County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Angel Fire Tax Rate
1.00%
Average Colfax County Tax Rate
0.76%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Angel Fire, Colfax County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87710 | 0.67% | 1.00% | 1.00% | 1.00% | 1.00% |
| 87714 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Angel Fire, Colfax County, New Mexico
In Angel Fire, 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 Colfax County Assessor 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 Angel Fire, 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 highest median tax bill in Angel Fire is $2,354 in the 87710 zip code, while the lowest median tax bill is $2,093 in the 87714 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Angel Fire, Colfax County, New Mexico
Source: Ownwell
$38,745
$144,339
$249,932
Average Angel Fire Assessed Value
$249,902
Average Colfax County Assessed Value
$80,911
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Angel Fire, Colfax County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87710 | $65,460 | $119,966 | $249,932 | $366,112 | $510,723 |
| 87714 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Angel Fire, Colfax County, New Mexico
Property tax bills in Angel Fire, located in Colfax County, NM, are calculated based on the assessed value of a property and the local tax rate. The assessed value typically reflects a percentage of the property's market value, which is determined by the county assessor. In Angel Fire, the median home price stands at $249,902. The local tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including property characteristics, market conditions, and any applicable exemptions or deductions. For instance, the 25th percentile tax bill in Angel Fire is $1,011, while the 75th percentile tax bill reaches $3,502. At the 90th percentile, homeowners can expect a tax bill around $4,893. These property taxes significantly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Angel Fire's property taxes can vary widely, reflecting the diverse range of property values and assessments within the area.
Average Angel Fire Tax Bill
$2,354
Average Colfax County Tax Bill
$615
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Angel Fire, Colfax County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87710 | $602 | $1,011 | $2,354 | $3,502 | $4,893 |
| 87714 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell