Tse Bonito, Mckinley County, New Mexico Property Taxes
Median Tse Bonito, NM effective property tax rate: 0.98%, significantly lower than the national median of 1.02%, but higher than the New Mexico state median of 0.86%.
Median Tse Bonito, NM home value: $12,560
Median annual Tse Bonito, NM tax bill: $98, $2,302 lower than the national median property tax bill of $2,400.
How are property taxes in McKinley calculated?
Property taxes in Tse Bonito, NM are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Tse Bonito’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Tse Bonito, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Tse Bonito, Mckinley County, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.98%
Estimate Property Tax Bill
$123
$114
Property Tax Rates Across Tse Bonito, Mckinley County, New Mexico
Local government entities are responsible for setting tax rates, which can significantly differ within a state. Each year, counties determine their budgets to fund essential services and calculate the property tax rate by dividing this budget by the total assessed value of all taxable properties in their area. This process, though influenced by votes and legislation, fundamentally follows this annual cycle.
In Tse Bonito, located in McKinley County, the effective property tax rate is 0.98%, which aligns with the median rate for New Mexico. This rate is slightly below the national median property tax rate of 1.02%. Tse Bonito’s rate is consistent across McKinley County, as the highest and lowest median tax rates are identical at 0.98%. This uniformity in tax rates within the county ensures a stable and predictable tax environment for property owners.
Understanding these rates and their implications can empower property owners in Tse Bonito to make informed decisions regarding property tax appeals and exemptions, ultimately optimizing their financial planning and investment strategies.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Tse Bonito Tax Rate
0.98%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Mckinley County Tax Rate
1.20%
Median Effective New Mexico Tax Rate
0.86%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Tse Bonito, Mckinley County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87301 | 0.97% | 0.98% | 0.98% | 0.98% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Tse Bonito, Mckinley County, New Mexico
When examining property taxes in Tse Bonito, NM, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The McKinley County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In McKinley County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Tse Bonito. For example, the median home price in Tse Bonito is $12,560, with tax bills ranging significantly across the county. 87301 has the highest median home price at $12,560.
Property Tax Assessment Values Across Tse Bonito, Mckinley County, New Mexico
Source: Ownwell
$12,560
$84,834
$157,107
Median Tse Bonito Market Value
$12,560
Median Mckinley County Market Value
$79,030
Median New Mexico Market Value
$121,540
Median United States Market Value
$235,294
Property Tax Assessment Values Across Tse Bonito, Mckinley County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87301 | $4,160 | $5,320 | $12,560 | $24,480 | $179,700 |
Source: Ownwell
Property Tax Bills Across Tse Bonito, Mckinley County, New Mexico
In Tse Bonito, located in McKinley County, NM, property tax bills are determined by assessing the value of a home and applying the local tax rate. The assessed value is a percentage of the home's market value, which is then multiplied by the tax rate to calculate the annual tax bill. With a median home price of $12,560, Tse Bonito's property tax bills are significantly lower than the national median, with the 25th percentile at $49 and the 75th percentile at $242. However, the tax bill can reach up to $1,943 for properties in the 90th percentile, highlighting the range of tax burdens homeowners may face.
For homeowners feeling the pinch of these taxes, Ownwell offers a solution. By providing expert property tax appeal and exemption services, Ownwell helps ensure that homeowners are not overpaying on their tax bills. With a focus on maximizing savings, Ownwell's team of professionals works diligently to identify opportunities for tax reductions, offering peace of mind and financial relief to homeowners in Tse Bonito.
Median Tse Bonito Tax Bill
$98
Median Mckinley County Tax Bill
$899
Median New Mexico Tax Bill
$1,192
Median United States Tax Bill
$2,400
Property Tax Bills Across Tse Bonito, Mckinley County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87301 | $41 | $49 | $98 | $242 | $1,943 |
Source: Ownwell