Sunland Park, New Mexico Property Taxes
The median property tax rate in Sunland Park, NM is 1.33%, considerably higher than both the national median of 0.99% and the New Mexico state median of 0.86%. With the median home value in Sunland Park, the typical annual property tax bill reaches $883, which is significantly lower than the national median of $2,690. Property taxes in Sunland Park 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 Sunland 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 Sunland 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
Sunland Park, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.33%
Estimate Property Tax Bill
$912
$846
Ownwell’s Sunland Park Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sunland Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sunland 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 Sunland Park, New Mexico
Property taxes in Sunland 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 Sunland Park is 1.33%, significantly higher than both the New Mexico state median and the U.S. national median of 0.99%. Local government entities within Sunland Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sunland 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 Sunland Park's effective property tax rate to other counties in New Mexico and the national median. For comparison, the 88063 zip code has the highest median property tax rate of 1.33%, while the 88063 zip code also has the lowest median tax rate of 1.33%. Understanding how these cities compare with Sunland 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 Sunland Park Tax Rate
1.33%
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 Sunland Park, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88063 | 1.10% | 1.26% | 1.33% | 1.33% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Sunland Park, New Mexico
In Sunland 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 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 Sunland 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. 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 Sunland Park helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 88063 has the highest and lowest median tax bill, both at $883.
Average Sunland Park Assessed Value
$68,570
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 Sunland Park, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88063 | $10,965 | $23,000 | $68,570 | $120,178 | $209,088 |
Source: Ownwell
Property Tax Bills Across Sunland Park, New Mexico
In Sunland Park, property tax bills are calculated based on the assessed value of a home, which is determined by the Doña Ana County Assessor's Office. The assessed value is a percentage of the property's market value. Various factors, including property size, location, and market conditions, influence this assessed value. Once the assessed value is established, local tax rates are applied to calculate the property tax bill. For homeowners in Sunland Park, the median home price is $68,570. Property tax bills can vary significantly, with the 25th percentile at $305 and the 75th percentile at $1,570, while the 90th percentile reaches $2,785. Compared to the national median property tax rate of 0.99%, Sunland Park's property tax bills reflect the local economic and market conditions. These property tax bills impact homeowners by contributing to the cost of owning a home, influencing their overall financial planning. Understanding how these taxes are calculated can help homeowners anticipate and manage their expenses more effectively.
Average Sunland Park Tax Bill
$883
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 Sunland Park, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88063 | $133 | $305 | $883 | $1,570 | $2,785 |
Source: Ownwell