Quay County, New Mexico Property Taxes
The median property tax rate in Quay County is 0.98%, which is slightly lower than the national median of 0.99% but higher than the New Mexico state median of 0.86%. With the median home value in Quay County at $31,267, the typical annual property tax bill is $307, significantly below the national median of $2,690. Property taxes in Quay County are calculated based on the assessed value, which is generally lower than the market value due to various property tax exemptions, such as primary residence and agricultural exemptions. Understanding Quay 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 Tucumcari or another part of Quay County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Quay County, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$306
$284
Ownwell’s Quay County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Quay County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Quay County to estimate your property tax bill. This insight 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 Quay County, New Mexico
Property taxes in Quay County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Quay County is 0.98%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Quay County set these rates annually, and they can vary significantly between different areas within the county. Each year, Quay 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 Logan has one of the higher property tax rates in the state at 1.00%, while the city of Melrose boasts one of the lowest at 0.65%. Analyzing how Quay County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Quay County Tax Rate
0.98%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Quay County, New Mexico
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bard | 0.53% | 0.69% | 0.69% | 0.69% | 0.70% |
| Cuervo | N/A | N/A | N/A | N/A | N/A |
| Glenrio | N/A | N/A | N/A | N/A | N/A |
| Grady | 0.60% | 0.69% | 0.74% | 0.74% | 0.76% |
| House | 0.70% | 0.74% | 0.74% | 0.96% | 0.96% |
| Logan | 0.76% | 1.00% | 1.00% | 1.00% | 1.00% |
| Mcalister | 0.62% | 0.65% | 0.71% | 0.74% | 0.74% |
| Melrose | 0.37% | 0.62% | 0.65% | 0.65% | 0.66% |
| Nara Visa | 0.64% | 0.75% | 0.75% | 0.75% | 0.75% |
| San Jon | 0.42% | 0.66% | 0.69% | 0.86% | 0.86% |
| Tucumcari | 0.77% | 0.88% | 0.98% | 1.10% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Quay County, New Mexico
In Quay 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 Quay 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 Quay 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. Quay County's property tax bills vary significantly, with Glenrio having the highest median tax bill at $1,398 and Melrose the lowest at $143. Being aware of these valuation processes in Quay County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Quay County Assessed Value
$31,267
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Quay County, New Mexico
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bard | $6,580 | $13,624 | $42,477 | $84,974 | $115,209 |
| Cuervo | N/A | N/A | N/A | N/A | N/A |
| Glenrio | N/A | N/A | N/A | N/A | N/A |
| Grady | $6,898 | $20,792 | $36,852 | $90,721 | $112,019 |
| House | $6,354 | $11,697 | $27,276 | $64,470 | $100,251 |
| Logan | $3,146 | $4,739 | $22,124 | $83,173 | $172,704 |
| Mcalister | $6,830 | $20,046 | $47,391 | $90,943 | $162,019 |
| Melrose | $3,561 | $11,208 | $32,068 | $48,164 | $86,262 |
| Nara Visa | $5,300 | $12,168 | $20,585 | $45,385 | $103,910 |
| San Jon | $4,518 | $10,811 | $24,403 | $66,498 | $111,449 |
| Tucumcari | $4,837 | $16,050 | $33,823 | $67,585 | $117,719 |
Source: Ownwell
Property Tax Bills Across Quay County, New Mexico
In Quay County, NM, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. Factors such as property location, improvements, and exemptions can influence the assessed value. For instance, the median home price in Quay County is $31,267, which is relatively low compared to national figures. Homeowners in the 25th percentile of tax bills pay around $106, while those in the 75th percentile pay approximately $668. At the higher end, the 90th percentile tax bill reaches $1,179. The city with the highest median tax bill in Quay County is Glenrio, at $1,398, while Melrose has the lowest at $143. These variations significantly impact homeowners, as higher tax bills can affect affordability and overall cost of living. Understanding these factors helps homeowners anticipate their annual tax obligations and plan accordingly.
Average Quay County Tax Bill
$307
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Quay County, New Mexico
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bard | $32 | $94 | $267 | $548 | $798 |
| Cuervo | N/A | N/A | N/A | N/A | N/A |
| Glenrio | N/A | N/A | N/A | N/A | N/A |
| Grady | $52 | $164 | $253 | $645 | $839 |
| House | $38 | $91 | $249 | $508 | $833 |
| Logan | $29 | $46 | $212 | $802 | $1,744 |
| Mcalister | $40 | $127 | $284 | $600 | $1,071 |
| Melrose | $23 | $59 | $143 | $339 | $558 |
| Nara Visa | $38 | $80 | $143 | $358 | $737 |
| San Jon | $27 | $68 | $178 | $477 | $818 |
| Tucumcari | $44 | $154 | $345 | $677 | $1,096 |
Source: Ownwell