High Rolls Mountain Park, Otero County, New Mexico Property Taxes
The median property tax rate in High Rolls Mountain Park, NM is 0.63%, notably lower than both the national median of 0.99% and the New Mexico state median of 0.86%. With the median home value in High Rolls Mountain Park, the typical annual property tax bill amounts to $1,066, which is significantly below the national median of $2,690. Property taxes in High Rolls Mountain Park are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding High Rolls Mountain Park's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of High Rolls Mountain Park 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
High Rolls Mountain Park, Otero County, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$1,067
$990
Ownwell’s High Rolls Mountain Park Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in High Rolls Mountain Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in High Rolls Mountain Park 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 High Rolls Mountain Park, Otero County, New Mexico
Property taxes in High Rolls Mountain Park, New Mexico, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in High Rolls Mountain Park is 0.63%, lower than the U.S. national median of 0.99%. Local government entities within High Rolls Mountain Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, High Rolls Mountain Park 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 High Rolls Mountain Park's effective property tax rate to other counties in New Mexico and the national median. For comparison, the zip code 88325 has both the highest and lowest median property tax rate of 0.63%. Understanding how these areas compare with High Rolls Mountain Park 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.
Property Tax Rates Across High Rolls Mountain Park, Otero County, New Mexico
Source: Ownwell
0.53%
0.71%
0.89%
Average High Rolls Mountain Park Tax Rate
0.63%
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 High Rolls Mountain Park, Otero County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88325 | 0.58% | 0.61% | 0.63% | 0.63% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across High Rolls Mountain Park, Otero County, New Mexico
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in High Rolls Mountain Park, NM. 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 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. Assessment notices in High Rolls Mountain Park 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 88325, both at $1,066.
Property Tax Assessment Values Across High Rolls Mountain Park, Otero County, New Mexico
Source: Ownwell
$23,540
$96,479
$169,418
Average High Rolls Mountain Park Assessed Value
$169,418
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 High Rolls Mountain Park, Otero County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88325 | $67,392 | $103,146 | $169,418 | $251,365 | $353,437 |
Source: Ownwell
Property Tax Bills Across High Rolls Mountain Park, Otero County, New Mexico
In High Rolls Mountain Park, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The median home price in this area is $169,418. Homeowners can expect varying tax bills based on their property's assessed value. For instance, the 25th percentile tax bill is around $646, while the 75th percentile reaches up to $1,587, and the 90th percentile can be as high as $2,237. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions. For example, the highest median tax bill in the area is $1,066, which is relatively moderate compared to the national median property tax rate of 0.99%. These property taxes fund essential services such as schools, public safety, and infrastructure, directly impacting the quality of life for homeowners. Understanding how these taxes are calculated can help homeowners anticipate their financial obligations and plan accordingly.
Property Tax Bills Across High Rolls Mountain Park, Otero County, New Mexico
Source: Ownwell
$138
$602
$1,066
Average High Rolls Mountain Park Tax Bill
$1,066
Average Otero County Tax Bill
$861
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across High Rolls Mountain Park, Otero County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88325 | $399 | $646 | $1,066 | $1,587 | $2,237 |
Source: Ownwell