Santa Clara, Grant County, New Mexico Property Taxes
The median property tax rate in Santa Clara, NM is 0.75%, which is lower than both the national median of 0.99% and the New Mexico state median of 0.86%. With the median home value in Santa Clara at $10,985, the typical annual property tax bill is $79, significantly less than the national median of $2,690. Property taxes in Santa Clara are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Santa Clara'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 Santa Clara 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
Santa Clara, Grant County, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$82
$76
Ownwell’s Santa Clara Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Santa Clara with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Santa Clara to provide an accurate estimate of your property tax bill. This valuable tool offers insights into potential tax liabilities, helping you make informed decisions. For those interested in more granular information, you can explore trends at the neighborhood level by scrolling down. Your property’s assessed value, determined by the county, is used for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Santa Clara, Grant County, New Mexico
Property taxes in Santa Clara, 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 Santa Clara is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Santa Clara set these rates annually, and they can vary significantly across different neighborhoods. Each year, Santa Clara 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 Santa Clara's effective property tax rate to other counties in New Mexico and the national median. For comparison, the zip code 88026 has both the highest and lowest median property tax rate of 0.75%. Understanding how these cities compare with Santa Clara provides valuable insights into the varying tax landscape across Grant County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Santa Clara Tax Rate
0.75%
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 Santa Clara, Grant County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88026 | 0.60% | 0.75% | 0.75% | 0.75% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Santa Clara, Grant County, New Mexico
In Santa Clara, 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 Grant 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 Santa Clara, 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 Santa Clara helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Santa Clara is $10,985, with tax bills ranging from $49 at the 25th percentile to $689 at the 90th percentile.
Property Tax Assessment Values Across Santa Clara, Grant County, New Mexico
Source: Ownwell
$10,985
$65,642
$120,298
Average Santa Clara Assessed Value
$10,985
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 Santa Clara, Grant County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88026 | $3,798 | $6,900 | $10,985 | $50,478 | $95,213 |
Source: Ownwell
Property Tax Bills Across Santa Clara, Grant County, New Mexico
In Santa Clara, NM, property tax bills are calculated based on the assessed value of the property, which is determined by the local tax assessor. This assessed value is a percentage of the home's market value. The tax rate in Santa Clara is applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $10,985, homeowners can expect varying tax bills depending on their property's specific assessment and the applicable tax rate. Several factors influence the final tax bill, including property improvements, market trends, and local government budgets. Homeowners in Santa Clara may see tax bills ranging from the 25th percentile at $49 to the 90th percentile at $689, reflecting disparities in property values and assessments. Compared to the national median property tax rate of 0.99%, Santa Clara's rates can significantly impact homeowners, especially those with higher-valued properties. Understanding these factors helps homeowners anticipate their tax obligations and plan their finances accordingly.
Average Santa Clara Tax Bill
$79
Average Grant County Tax Bill
$356
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Santa Clara, Grant County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88026 | $26 | $49 | $79 | $359 | $689 |
Source: Ownwell