Mesilla Park, New Mexico Property Taxes
The median property tax rate in Mesilla Park, NM is 0.78%, which is lower than both the national median of 0.99% and New Mexico's state median of 0.86%. With the median home value in Mesilla Park at $45,971, the typical annual property tax bill amounts to $498, significantly below the national median of $2,690. Property taxes in Mesilla Park are calculated based on the assessed value, which often falls below market value due to exemptions like the primary residence and agricultural exemptions. Understanding Mesilla Park'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 Mesilla Park 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
Mesilla Park, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$359
$333
Ownwell’s Mesilla Park Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mesilla Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mesilla Park 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 Mesilla Park, New Mexico
Property taxes in Mesilla Park, 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 Mesilla Park is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Mesilla Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mesilla Park 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 Mesilla Park's effective property tax rate to other areas in Doña Ana County and the national median. For comparison, the zip code 88047 has both the highest and lowest median property tax rate of 0.78%. Understanding how these areas compare with Mesilla Park 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 Mesilla Park Tax Rate
0.78%
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 Mesilla Park, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88047 | 0.64% | 0.76% | 0.78% | 0.82% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Mesilla Park, New Mexico
In Mesilla Park, 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 Mesilla Park, 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. For instance, the median home price in Mesilla Park is $45,971, with tax bills ranging from $75 at the 25th percentile to $2,468 at the 90th percentile. The highest and lowest median tax bills both stand at $498 in the 88047 zip code. 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 Mesilla Park helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mesilla Park Assessed Value
$45,971
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 Mesilla Park, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88047 | $4,812 | $8,464 | $45,971 | $186,277 | $313,016 |
Source: Ownwell
Property Tax Bills Across Mesilla Park, New Mexico
In Mesilla Park, property tax bills are calculated based on the assessed value of the property, which is determined by the Doña Ana County Assessor's Office. The assessed value is a percentage of the property's market value, reflecting current real estate conditions. Local tax rates are then applied to this assessed value to calculate the annual tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. For example, a home in Mesilla Park with a median home price of $45,971 may see tax bills ranging from $75 at the 25th percentile to $2,468 at the 90th percentile. These property taxes significantly impact homeowners, affecting their annual expenses and overall financial planning. Compared to the national median property tax rate of 0.99%, Mesilla Park's property tax rates can vary widely, emphasizing the importance of understanding local tax assessments and potential exemptions to manage costs effectively.
Average Mesilla Park Tax Bill
$498
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 Mesilla Park, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88047 | $37 | $75 | $498 | $1,508 | $2,468 |
Source: Ownwell