Eagle Nest, Colfax County, New Mexico Property Taxes
The median property tax rate in Eagle Nest, NM is 0.67%, which is considerably lower than both the national median of 0.99% and the New Mexico state median of 0.86%. With the median home value in Eagle Nest, the typical annual property tax bill reaches $492, significantly below the national median of $2,690. Property taxes in Eagle Nest are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Eagle Nest'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 Eagle Nest 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
Eagle Nest, Colfax County, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$489
$454
Ownwell’s Eagle Nest Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Eagle Nest with ease. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Eagle Nest to provide an accurate estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. For those interested in exploring neighborhood-specific trends, additional localized information is available below. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Eagle Nest, Colfax County, New Mexico
Property taxes in Eagle Nest, New Mexico, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eagle Nest is 0.67%, which is lower than the U.S. national median of 0.99%. Local government entities within Eagle Nest set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eagle Nest 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 Eagle Nest's effective property tax rate to other areas in New Mexico and the national median. For comparison, the area with the highest median property tax rate in Colfax County is 87714, with a rate of 0.73%, while the area with the lowest median tax rate is 87718, with a rate of 0.67%. Understanding how these areas compare with Eagle Nest 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 Eagle Nest Tax Rate
0.67%
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 Eagle Nest, Colfax County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87710 | N/A | N/A | N/A | N/A | N/A |
| 87714 | N/A | N/A | N/A | N/A | N/A |
| 87718 | 0.67% | 0.67% | 0.67% | 0.73% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Eagle Nest, Colfax County, New Mexico
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Eagle Nest, NM. 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 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 Eagle Nest, 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. The median home price in Eagle Nest is $73,057, and understanding these valuation concepts can help property owners navigate their tax responsibilities. For example, the highest median tax bill in the area is $927 in zip code 87714, while the lowest is $490 in zip code 87718. By being aware of these valuation processes, property owners can identify opportunities for protesting assessments or applying for exemptions to manage the tax burden effectively.
Property Tax Assessment Values Across Eagle Nest, Colfax County, New Mexico
Source: Ownwell
$38,745
$144,339
$249,932
Average Eagle Nest Assessed Value
$73,057
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 Eagle Nest, Colfax County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87710 | N/A | N/A | N/A | N/A | N/A |
| 87714 | N/A | N/A | N/A | N/A | N/A |
| 87718 | $16,838 | $40,030 | $72,616 | $138,710 | $238,609 |
Source: Ownwell
Property Tax Bills Across Eagle Nest, Colfax County, New Mexico
In Eagle Nest, property tax bills are calculated based on the assessed value of the home, which is determined by the local assessor's office. The median home price in Eagle Nest is $73,057. Homeowners in this area can expect property tax bills that vary significantly depending on several factors, including the assessed value of their property and the local tax rate. For instance, the tax bill at the 25th percentile is around $264, while at the 75th percentile, it rises to approximately $957. For those at the higher end, the 90th percentile tax bill can reach up to $1,717. Local tax rates in Eagle Nest are influenced by various factors, such as the budgetary needs of the county and the value of properties within the region. These property tax bills directly impact homeowners by contributing to the funding of essential public services like schools, roads, and emergency services. Comparatively, the property tax rates in Eagle Nest can be seen as moderate when compared to the national median property tax rate of 0.99%.
Average Eagle Nest Tax Bill
$492
Average Colfax County Tax Bill
$615
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Eagle Nest, Colfax County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87710 | N/A | N/A | N/A | N/A | N/A |
| 87714 | N/A | N/A | N/A | N/A | N/A |
| 87718 | $102 | $262 | $490 | $954 | $1,716 |
Source: Ownwell