Grant County Property Taxes
The median property tax rate in Grant County is 0.60%, which is significantly lower than both the national median of 0.99% and the New Mexico state median of 0.86%. With a median home value of $54,932 in Grant County, the typical annual property tax bill is $356, far below the national median of $2,690. Property taxes in Grant County are calculated based on the tax assessed value, which typically falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Grant County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Silver City or another part of Grant County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Grant County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$330
$306
Ownwell’s Grant County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grant County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Grant County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Grant County, New Mexico
Property taxes in Grant County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Grant County is 0.60%, which is lower than the U.S. national median of 0.99%. Local government entities within Grant County set these rates annually, and they can vary significantly between different areas within the county. Each year, Grant County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Grant County's effective property tax rate with other areas in New Mexico and the national median. For comparison, the city of Bayard has one of the higher property tax rates in New Mexico at 0.81%, while the city of Tyrone boasts one of the lowest at 0.50%. Analyzing how Grant County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Grant County Tax Rate
0.60%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grant County, New Mexico
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Arenas Valley | 0.48% | 0.50% | 0.53% | 0.55% | 0.68% |
| Bayard | 0.62% | 0.75% | 0.81% | 0.81% | 0.85% |
| Buckhorn | 0.44% | 0.50% | 0.51% | 0.53% | 0.57% |
| Cliff | 0.49% | 0.50% | 0.53% | 0.58% | 0.67% |
| Faywood | 0.56% | 0.65% | 0.65% | 0.68% | 0.69% |
| Fort Bayard | 0.65% | 0.65% | 0.65% | 0.65% | 0.65% |
| Gila | 0.50% | 0.53% | 0.61% | 0.67% | 0.70% |
| Hachita | N/A | N/A | N/A | N/A | N/A |
| Hanover | 0.54% | 0.65% | 0.65% | 0.67% | 0.70% |
| Hurley | 0.59% | 0.65% | 0.80% | 0.80% | 0.80% |
| Lordsburg | 0.52% | 0.55% | 0.59% | 0.64% | 0.67% |
| Mimbres | 0.50% | 0.61% | 0.65% | 0.67% | 0.68% |
| Mule Creek | 0.49% | 0.50% | 0.52% | 0.53% | 0.56% |
| Pinos Altos | 0.47% | 0.50% | 0.50% | 0.53% | 0.57% |
| Redrock | 0.45% | 0.50% | 0.53% | 0.55% | 0.64% |
| San Lorenzo | 0.57% | 0.65% | 0.65% | 0.67% | 0.68% |
| Santa Clara | 0.60% | 0.75% | 0.75% | 0.75% | 0.79% |
| Silver City | 0.49% | 0.51% | 0.57% | 0.60% | 0.60% |
| Tyrone | 0.47% | 0.50% | 0.50% | 0.50% | 0.50% |
Source: Ownwell
Property Tax Assessment Values Across Grant County, New Mexico
In Grant County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Grant County Appraisal District. The assessed value, however, 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. Assessment notices in Grant County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Mule Creek has the highest median tax bill at $603, while Hanover has the lowest at $179. Being aware of these valuation processes in Grant County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Grant County Assessed Value
$54,932
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grant County, New Mexico
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Arenas Valley | $4,160 | $7,638 | $41,345 | $135,413 | $224,854 |
| Bayard | $3,862 | $8,442 | $30,420 | $68,282 | $97,300 |
| Buckhorn | $7,988 | $15,172 | $52,254 | $133,906 | $218,729 |
| Cliff | $8,474 | $26,494 | $96,403 | $190,418 | $257,422 |
| Faywood | $5,934 | $19,951 | $61,818 | $127,050 | $221,612 |
| Fort Bayard | $42,571 | $42,571 | $42,571 | $42,571 | $42,571 |
| Gila | $7,094 | $19,971 | $68,948 | $128,322 | $183,610 |
| Hachita | N/A | N/A | N/A | N/A | N/A |
| Hanover | $1,974 | $5,000 | $29,123 | $82,613 | $196,227 |
| Hurley | $5,000 | $13,787 | $45,365 | $71,798 | $94,991 |
| Lordsburg | $24,517 | $30,741 | $41,114 | $51,487 | $57,711 |
| Mimbres | $7,922 | $22,610 | $91,618 | $152,263 | $228,706 |
| Mule Creek | $27,782 | $55,612 | $120,298 | $181,346 | $327,750 |
| Pinos Altos | $4,560 | $19,262 | $96,730 | $175,056 | $266,894 |
| Redrock | $8,658 | $27,226 | $82,362 | $189,826 | $263,298 |
| San Lorenzo | $3,000 | $16,943 | $58,602 | $142,949 | $257,068 |
| Santa Clara | $3,798 | $6,900 | $10,985 | $50,478 | $95,213 |
| Silver City | $4,390 | $11,184 | $78,794 | $167,669 | $257,430 |
| Tyrone | $88,039 | $96,148 | $115,261 | $139,793 | $179,886 |
Source: Ownwell
Property Tax Bills Across Grant County, New Mexico
In Grant County, NM, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors considered include the property's market value, its location, and any applicable exemptions. The median home price in Grant County is $54,932, and the median property tax rate is relatively low compared to the national median of 0.99%. Homeowners in Grant County can expect varying tax bills depending on their property's value and location. For instance, tax bills range significantly, with the 25th percentile at $62 and the 75th percentile at $801. In Mule Creek, the highest median tax bill is $603, while in Hanover, the lowest is $179. These variations can significantly impact homeowners, influencing their financial planning and decisions about property investments. Understanding these factors is crucial for homeowners to anticipate and manage their property tax obligations effectively.
Average Grant County Tax Bill
$356
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Grant County, New Mexico
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Arenas Valley | $22 | $43 | $263 | $774 | $1,231 |
| Bayard | $28 | $65 | $232 | $520 | $760 |
| Buckhorn | $40 | $73 | $287 | $647 | $1,102 |
| Cliff | $49 | $185 | $559 | $1,089 | $1,440 |
| Faywood | $34 | $116 | $368 | $801 | $1,512 |
| Fort Bayard | $277 | $277 | $277 | $277 | $277 |
| Gila | $42 | $119 | $442 | $808 | $1,194 |
| Hachita | N/A | N/A | N/A | N/A | N/A |
| Hanover | $13 | $34 | $179 | $523 | $1,253 |
| Hurley | $37 | $102 | $330 | $547 | $731 |
| Lordsburg | $156 | $182 | $225 | $269 | $295 |
| Mimbres | $44 | $144 | $568 | $993 | $1,481 |
| Mule Creek | $87 | $317 | $603 | $937 | $1,658 |
| Pinos Altos | $24 | $97 | $544 | $906 | $1,384 |
| Redrock | $42 | $118 | $427 | $933 | $1,422 |
| San Lorenzo | $20 | $115 | $398 | $936 | $1,701 |
| Santa Clara | $26 | $49 | $79 | $359 | $689 |
| Silver City | $24 | $64 | $445 | $928 | $1,403 |
| Tyrone | $429 | $468 | $565 | $693 | $887 |
Source: Ownwell