Chamberino, New Mexico Property Taxes
The median property tax rate in Chamberino, NM is 1.02%, slightly above both the national median of 0.99% and the New Mexico state median of 0.86%. With the median home value in Chamberino at $32,450, the typical annual property tax bill amounts to $327, which is significantly lower than the national median of $2,690. Property taxes in Chamberino are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Chamberino'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 Chamberino or another part of Doa Ana County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chamberino, New Mexico Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$1,720
Ownwell’s Chamberino Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chamberino with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chamberino 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 Chamberino, New Mexico
Property taxes in Chamberino, New Mexico, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chamberino is 0.72%, lower than both the New Mexico state median of 0.55% and the U.S. national median of 0.99%. Local government entities within Chamberino set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chamberino 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 Chamberino's effective property tax rate to other counties in New Mexico and the national median. For comparison, the 88027 zip code has the highest median property tax rate of 0.72%, while the 88027 zip code has the lowest median tax rate of 0.72%. Understanding how these cities compare with Chamberino provides valuable insights into the varying tax landscape across Doña Ana County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chamberino Tax Rate
1.02%
Average Doaana County Tax Rate
1.02%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chamberino, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88027 | 0.79% | 0.95% | 1.02% | 1.02% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Chamberino, New Mexico
In Chamberino, 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 Doña Ana 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 Chamberino, 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 Chamberino helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 88027 in Doña Ana County has both the highest and lowest median tax bills at $327.
Average Chamberino Assessed Value
$32,450
Average Doaana County Assessed Value
$120,428
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chamberino, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88027 | $6,917 | $15,602 | $32,450 | $75,033 | $138,311 |
Source: Ownwell
Property Tax Bills Across Chamberino, New Mexico
In Chamberino, located in Doña Ana County, NM, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property to establish its market value. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. For homeowners in Chamberino, the median home price stands at $32,450. Property tax bills can vary significantly, with the 25th percentile bill at $159 and the 75th percentile reaching $765. The 90th percentile tax bill can go up to $1,405, indicating a wide range of property values and corresponding tax obligations within the area. Compared to the national median property tax rate of 0.99%, homeowners in Chamberino benefit from relatively lower property tax rates, making it an appealing location for those looking to minimize their annual tax expenses. The highest and lowest median tax bills in the area are both recorded at $327, within the 88027 zip code, showcasing some consistency in tax assessments.
Average Chamberino Tax Bill
$327
Average Doaana County Tax Bill
$1,201
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Chamberino, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88027 | $64 | $159 | $327 | $765 | $1,405 |
Source: Ownwell