Rodey, New Mexico Property Taxes
The median property tax rate in Rodey, NM is 0.92%, slightly below the national median of 0.99% but higher than the New Mexico state median of 0.86%. With the median home value in Rodey at $5,000, the typical annual property tax bill is $46, significantly lower than the national median of $2,690. Property taxes in Rodey 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 Rodey'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 Rodey 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
Rodey, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$46
$43
Ownwell’s Rodey Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Rodey with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Rodey to provide an estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is the amount assigned by the county for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Rodey, New Mexico
Property taxes in Rodey, 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 Rodey is 0.92%, which is below the U.S. national median of 0.99%. Local government entities within Rodey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rodey 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 Rodey's effective property tax rate to other areas in Doa Ana County and the national median. For comparison, the zip code 87937 has the highest and lowest median property tax rate of 0.92%. Understanding how these areas compare with Rodey provides valuable insights into the varying tax landscape across Doa Ana County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rodey Tax Rate
0.92%
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 Rodey, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87937 | 0.79% | 0.92% | 0.92% | 0.92% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Rodey, New Mexico
In Rodey, 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 DoaAna 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 Rodey, 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 Rodey helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The tax bills for properties in the 25th percentile are $46, while those in the 75th percentile are $69, and in the 90th percentile, they are $182.
Average Rodey Assessed Value
$5,000
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 Rodey, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87937 | $2,276 | $5,000 | $5,000 | $7,630 | $24,324 |
Source: Ownwell
Property Tax Bills Across Rodey, New Mexico
In Rodey, located in Doña Ana County, NM, property tax bills are determined based on the assessed value of a home. The assessed value is a percentage of the market value, which is then multiplied by the local tax rate to calculate the annual tax bill. Several factors influence the tax bill, including the home's location, size, and any applicable exemptions or deductions. For homeowners in Rodey, the median home price is $5,000, leading to a range of tax bills. The 25th percentile tax bill is $46, while the 75th percentile tax bill is $69. At the higher end, the 90th percentile tax bill reaches $182. These figures show a significant variance, highlighting the impact of different property values and local tax rates. Comparatively, the national median property tax rate is 0.99%, making it essential for Rodey homeowners to understand how their local rates and assessed values affect their overall tax obligations. This knowledge can help homeowners better manage their finances and plan for future expenses.
Average Rodey Tax Bill
$46
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 Rodey, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87937 | $21 | $46 | $46 | $69 | $182 |
Source: Ownwell