Mckinley County, New Mexico Property Taxes
The median property tax rate in McKinley County is 1.20%, which is significantly higher than both the national median of 0.99% and the New Mexico state median of 0.86%. With the median home value in McKinley County, the typical annual property tax bill reaches $899. Property taxes in McKinley County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding McKinley 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 Gallup or another part of McKinley County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mckinley County, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$948
$880
Ownwell’s McKinley County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in McKinley County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in McKinley County to estimate your property tax bill. This tool 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 Mckinley County, New Mexico
Property taxes in McKinley County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in McKinley County is 1.20%, which is higher than both the New Mexico state median and the U.S. national median of 0.99%. Local government entities within McKinley County set these rates annually, and they can vary significantly between different areas within the county. Each year, McKinley 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. For comparison, the city of Gallup has one of the higher property tax rates in New Mexico at 1.26%, while the city of Crownpoint boasts one of the lowest at 0.57%. Analyzing how McKinley County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Mckinley County Tax Rate
1.20%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mckinley County, New Mexico
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Black Hat | 0.71% | 0.94% | 0.98% | 0.98% | 1.26% |
| Continental Divide | 0.85% | 0.95% | 0.99% | 0.99% | 0.99% |
| Crownpoint | N/A | N/A | N/A | N/A | N/A |
| Gallup | 0.82% | 0.98% | 1.26% | 1.26% | 1.26% |
| Gamerco | 0.74% | 0.92% | 0.98% | 0.98% | 0.98% |
| Jamestown | 0.75% | 0.92% | 0.96% | 0.98% | 0.98% |
| Mentmore | 0.61% | 0.97% | 0.98% | 0.98% | 0.98% |
| Navajo | N/A | N/A | N/A | N/A | N/A |
| Pinehill | N/A | N/A | N/A | N/A | N/A |
| Prewitt | 0.73% | 0.99% | 0.99% | 0.99% | 0.99% |
| Ramah | 0.85% | 0.97% | 0.98% | 0.98% | 0.98% |
| Thoreau | 0.60% | 0.93% | 0.99% | 0.99% | 0.99% |
| Tse Bonito | 0.97% | 0.98% | 0.98% | 0.98% | 0.98% |
| Vanderwagen | 0.68% | 0.91% | 0.98% | 0.98% | 0.98% |
| Yatahey | 0.41% | 0.75% | 0.95% | 0.98% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Mckinley County, New Mexico
In McKinley 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 McKinley 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 McKinley 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, Pinehill has the highest median tax bill at $3,534, while Mentmore has the lowest at $202. Being aware of these valuation processes in McKinley County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Mckinley County, New Mexico
Source: Ownwell
$12,560
$84,834
$157,107
Average Mckinley County Assessed Value
$79,030
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mckinley County, New Mexico
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Black Hat | $7,040 | $10,860 | $48,040 | $87,170 | $166,123 |
| Continental Divide | $20,270 | $46,990 | $71,820 | $133,006 | $192,474 |
| Crownpoint | N/A | N/A | N/A | N/A | N/A |
| Gallup | $7,350 | $20,204 | $81,710 | $145,565 | $221,566 |
| Gamerco | $12,395 | $30,890 | $82,396 | $137,426 | $183,265 |
| Jamestown | $84,516 | $119,420 | $157,107 | $196,480 | $279,406 |
| Mentmore | $6,612 | $8,790 | $21,300 | $55,630 | $91,466 |
| Navajo | N/A | N/A | N/A | N/A | N/A |
| Pinehill | N/A | N/A | N/A | N/A | N/A |
| Prewitt | $14,777 | $24,250 | $36,760 | $59,360 | $125,544 |
| Ramah | $33,665 | $68,327 | $117,972 | $163,541 | $204,358 |
| Thoreau | $17,289 | $38,445 | $81,490 | $126,820 | $170,416 |
| Tse Bonito | $4,160 | $5,320 | $12,560 | $24,480 | $179,700 |
| Vanderwagen | $10,884 | $33,805 | $92,875 | $172,722 | $215,576 |
| Yatahey | $7,809 | $13,875 | $42,470 | $79,702 | $133,514 |
Source: Ownwell
Property Tax Bills Across Mckinley County, New Mexico
In McKinley County, NM, property tax bills are calculated based on the assessed value of a homeowner's property. The county's property tax rate is applied to this assessed value, which is typically a percentage of the property's market value. Various factors influence the final tax bill, including the property's location, size, and any applicable exemptions or abatements. For instance, the median home price in McKinley County is $79,030, leading to a range of property tax bills. Homeowners at the 25th percentile can expect a tax bill around $190, while those at the 75th percentile see bills closer to $1,662. At the 90th percentile, tax bills can reach up to $2,564. Comparatively, Pinehill has the highest median tax bill at $3,534, whereas Mentmore enjoys the lowest at $202. These variations significantly impact homeowners, influencing their overall housing costs and financial planning. Understanding these factors helps homeowners anticipate their property tax responsibilities and manage their budgets accordingly.
Average Mckinley County Tax Bill
$899
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Mckinley County, New Mexico
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Black Hat | $71 | $106 | $411 | $759 | $1,622 |
| Continental Divide | $164 | $433 | $767 | $1,268 | $1,830 |
| Crownpoint | N/A | N/A | N/A | N/A | N/A |
| Gallup | $68 | $202 | $965 | $1,746 | $2,692 |
| Gamerco | $78 | $286 | $742 | $1,294 | $1,752 |
| Jamestown | $779 | $1,044 | $1,446 | $1,894 | $2,602 |
| Mentmore | $47 | $82 | $202 | $543 | $893 |
| Navajo | N/A | N/A | N/A | N/A | N/A |
| Pinehill | N/A | N/A | N/A | N/A | N/A |
| Prewitt | $135 | $205 | $344 | $589 | $1,228 |
| Ramah | $301 | $640 | $1,105 | $1,567 | $1,953 |
| Thoreau | $119 | $311 | $769 | $1,179 | $1,632 |
| Tse Bonito | $41 | $49 | $98 | $242 | $1,943 |
| Vanderwagen | $93 | $232 | $952 | $1,731 | $2,116 |
| Yatahey | $44 | $86 | $366 | $712 | $1,228 |
Source: Ownwell