Ancho, New Mexico Property Taxes
The median property tax rate in Ancho, NM is 1.14%, notably higher than both the national median of 0.99% and the New Mexico state median of 0.86%. With the median home value in Ancho at $63,837, the typical annual property tax bill reaches $1,212, surpassing the national median of $2,690. Property taxes in Ancho are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Ancho'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 Ancho or another part of Lincoln County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ancho, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$728
$675
Ownwell’s ANCHO Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in ANCHO with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ANCHO 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 Ancho, New Mexico
Property taxes in ANCHO, 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 ANCHO is 1.14%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within ANCHO set these rates annually, and they can vary significantly across different neighborhoods. Each year, ANCHO 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 ANCHO's effective property tax rate to other counties in New Mexico and the national median. For comparison, the 88301 zip code has both the highest and lowest median property tax rate in the county at 1.14%. Understanding how these areas compare with ANCHO provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ancho Tax Rate
1.14%
Average Lincoln County Tax Rate
0.99%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ancho, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88301 | 1.00% | 1.06% | 1.14% | 1.18% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Ancho, New Mexico
In Ancho, New Mexico, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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 Lincoln 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 Ancho, 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 Ancho helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Ancho's median home price is $63,837, with tax bills ranging from $809 at the 25th percentile to $1,311 at the 90th percentile. The zip code 88301 has the highest and lowest median tax bill of $1,212.
Average Ancho Assessed Value
$63,837
Average Lincoln County Assessed Value
$90,750
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ancho, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88301 | $32,504 | $35,496 | $63,837 | $110,367 | $119,360 |
Source: Ownwell
Property Tax Bills Across Ancho, New Mexico
In Ancho, Lincoln County, NM, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and is a percentage of the property's market value. Homeowners in Ancho experience property tax bills that vary significantly, with the 25th percentile tax bill at $809 and the 75th percentile at $1274. The highest median tax bill in the area is $1212, found in the 88301 zip code. Several factors influence the tax bill, including the property's location, size, and improvements. Local tax rates also play a crucial role. Compared to the national median property tax rate of 0.99%, Ancho's rates can be relatively high, affecting homeowners' annual expenses. Higher property taxes can impact the affordability of homeownership and may influence decisions regarding property investments. Understanding these factors is essential for homeowners to manage their financial planning effectively.
Average Ancho Tax Bill
$1,212
Average Lincoln County Tax Bill
$1,235
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Ancho, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88301 | $567 | $809 | $1,212 | $1,274 | $1,311 |
Source: Ownwell