Animas, New Mexico Property Taxes
The median property tax rate in Animas, NM is 0.43%, significantly lower than both the national median of 0.99% and the New Mexico state median of 0.86%. With the median home value in Animas at $34,524, the typical annual property tax bill is $125, well below the national median of $2,690. Property taxes in Animas 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 Animas'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 Animas 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
Animas, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.43%
Estimate Property Tax Bill
$148
Ownwell’s Animas Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Animas with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Animas 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 Animas, New Mexico
Property taxes in Animas, 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 Animas is 0.43%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Animas set these rates annually, and they can vary significantly across different neighborhoods. Each year, Animas 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 Animas's effective property tax rate to other counties in New Mexico and the national median. For comparison, the zip code 88020 has both the highest and lowest median property tax rate of 0.43%. Understanding how these cities compare with Animas provides valuable insights into the varying tax landscape across Hidalgo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Animas Tax Rate
0.43%
Average Hidalgo County Tax Rate
0.62%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Animas, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88020 | 0.34% | 0.39% | 0.43% | 0.52% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Animas, New Mexico
In Animas, 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 Hidalgo 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 Animas, 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. For instance, the highest median tax bill in the area is $125 in zip code 88020. Being aware of these valuation processes in Animas helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Animas Assessed Value
$34,524
Average Hidalgo County Assessed Value
$36,636
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Animas, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88020 | $6,806 | $11,775 | $34,524 | $84,165 | $154,427 |
Source: Ownwell
Property Tax Bills Across Animas, New Mexico
In Animas, located in Hidalgo County, NM, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. The median home price in Animas is $34,524. Property tax rates and bills vary, with the national median property tax rate being 0.99%. However, local rates can differ. For example, the 25th percentile tax bill in Animas is $49, while the 75th percentile reaches $324, and the 90th percentile can be as high as $578. Several factors influence these tax bills, including the assessed value of the property, applicable exemptions, and local tax rates. Homeowners in Animas with properties in the highest median tax bill zip code (88020) pay around $125.00. These property taxes fund essential community services such as schools, public safety, and infrastructure, directly impacting homeowners by contributing to the overall quality of life in the area. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Animas Tax Bill
$125
Average Hidalgo County Tax Bill
$196
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Animas, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88020 | $31 | $49 | $125 | $324 | $578 |
Source: Ownwell