Alamogordo, New Mexico Property Taxes
The median property tax rate in Alamogordo, NM is 0.86%, aligning with the state median but lower than the national median of 0.99%. With a median home value of $121,943, the typical annual property tax bill in Alamogordo is $967, which is below the national median of $2,690. Property taxes in Alamogordo are calculated based on the assessed value, which is often less than the market value due to exemptions like primary residence and agricultural exemptions. Navigating Alamogordo's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Alamogordo or another part of Otero County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Alamogordo, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$1,049
$973
Ownwell’s Alamogordo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Alamogordo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Alamogordo 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 Alamogordo, New Mexico
Property taxes in Alamogordo, New Mexico, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alamogordo is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Alamogordo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alamogordo 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 Alamogordo's effective property tax rate to other areas in Otero County and the national median. For comparison, the 88310 zip code has the highest median property tax rate of 0.86%, while the 88311 zip code has the lowest median tax rate of 0.63%. Understanding how these areas compare with Alamogordo provides valuable insights into the varying tax landscape across Otero County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alamogordo Tax Rate
0.86%
Average Otero County Tax Rate
0.80%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alamogordo, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88310 | 0.63% | 0.77% | 0.86% | 0.86% | 0.86% |
| 88311 | 0.47% | 0.59% | 0.63% | 0.63% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Alamogordo, New Mexico
In Alamogordo, 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 Otero 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 Alamogordo, 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. For example, the highest median tax bill in Alamogordo is $978 in zip code 88310, while the lowest is $359 in zip code 88311. 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 Alamogordo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Alamogordo Assessed Value
$121,943
Average Otero County Assessed Value
$117,358
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alamogordo, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88310 | $52,935 | $79,567 | $123,412 | $191,312 | $275,944 |
| 88311 | $15,621 | $29,811 | $57,940 | $88,817 | $124,356 |
Source: Ownwell
Property Tax Bills Across Alamogordo, New Mexico
In Alamogordo, property tax bills are calculated based on the assessed value of a home, which is determined by the Otero County Assessor's Office. The assessed value is a percentage of the market value of the property. This value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, with a median home price of $121,943, homeowners can expect varying tax bills. The 25th percentile tax bill is around $620, while the 75th percentile tax bill reaches approximately $1,537. At the higher end, the 90th percentile tax bill can be as much as $2,222. These tax bills impact homeowners significantly, with some areas in Alamogordo, such as the 88310 zip code, experiencing the highest median tax bill at $978. Conversely, the 88311 zip code sees the lowest median tax bill at $359. Compared to the national median property tax rate of 0.99%, homeowners in Alamogordo might find their tax obligations relatively manageable, depending on their property's assessed value and location within the city.
Average Alamogordo Tax Bill
$967
Average Otero County Tax Bill
$861
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Alamogordo, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88310 | $418 | $631 | $978 | $1,548 | $2,232 |
| 88311 | $100 | $205 | $359 | $569 | $769 |
Source: Ownwell