Taiban, De Baca County, New Mexico Property Taxes
The median property tax rate in Taiban, NM is 0.77%, which is lower than both the national median of 0.99% and the New Mexico state median of 0.86%. With the median home value in Taiban at $51,957, the typical annual property tax bill is approximately $461, significantly below the national median of $2,690. Property taxes in Taiban 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 Taiban'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 Taiban or another part of De Baca County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Taiban, De Baca County, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$400
$371
Ownwell’s Taiban Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Taiban with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Taiban 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 Taiban, De Baca County, New Mexico
Property taxes in Taiban, 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 Taiban is 0.77%, which is notably lower than the U.S. national median of 0.99%. Local government entities within Taiban set these rates annually, and they can vary significantly across different neighborhoods. Each year, Taiban 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 Taiban's effective property tax rate to other areas in De Baca County and the national median. For comparison, the zip code 88134 has the highest median property tax rate of 0.77%, while the same zip code also has the lowest median tax rate of 0.77%. Understanding how these areas compare with Taiban provides valuable insights into the varying tax landscape across De Baca County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Taiban Tax Rate
0.77%
Average De Baca County Tax Rate
0.78%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Taiban, De Baca County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88134 | 0.67% | 0.72% | 0.77% | 0.78% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Taiban, De Baca County, New Mexico
In Taiban, 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 De Baca 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 Taiban, 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 Taiban helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Taiban is $51,957, with the highest median tax bill being $461 in the zip code 88134.
Property Tax Assessment Values Across Taiban, De Baca County, New Mexico
Source: Ownwell
$35,298
$45,366
$55,434
Average Taiban Assessed Value
$51,957
Average De Baca County Assessed Value
$35,902
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Taiban, De Baca County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88134 | $12,688 | $24,234 | $51,957 | $98,514 | $121,472 |
Source: Ownwell
Property Tax Bills Across Taiban, De Baca County, New Mexico
In Taiban, located in De Baca County, NM, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor’s office, which evaluates the property's market value and then applies an assessment ratio. This ratio is a percentage of the market value that is subject to taxation. For homeowners in Taiban, the median home price is $51,957. Property tax bills can vary widely, with the 25th percentile tax bill at $225 and the 75th percentile tax bill at $770. The 90th percentile tax bill reaches up to $900. These figures illustrate the range of property tax burdens that homeowners might face, depending on the specific assessed value of their property and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Taiban's property tax rates may be considered moderate, impacting homeowners' annual financial planning and overall cost of living. The highest median tax bill in the area is $461, found in the 88134 zip code.
Average Taiban Tax Bill
$461
Average De Baca County Tax Bill
$297
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Taiban, De Baca County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88134 | $97 | $225 | $461 | $770 | $900 |
Source: Ownwell