San Jon, New Mexico Property Taxes
The median property tax rate in San Jon, NM is 0.69%, 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 San Jon, the typical annual property tax bill is $178, significantly below the national median of $2,690. Property taxes in San Jon are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding San Jon's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of San Jon 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
San Jon, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$168
$156
Ownwell’s San Jon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in San Jon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in San Jon 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 San Jon, New Mexico
Property taxes in San Jon, New Mexico, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in San Jon is 0.69%, which is lower than the U.S. national median of 0.99%. Local government entities within San Jon set these rates annually, and they can vary significantly across different neighborhoods. Each year, San Jon 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 San Jon's effective property tax rate to other areas in Quay County and the national median. For comparison, the zip code 88411 has the highest median property tax rate of 0.69%, while the zip code 88434 has the lowest median tax rate of 0.69%. Understanding how these areas compare with San Jon provides valuable insights into the varying tax landscape across Quay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average San Jon Tax Rate
0.69%
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 San Jon, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88411 | 0.69% | 0.69% | 0.69% | 0.69% | 0.69% |
| 88434 | 0.42% | 0.66% | 0.69% | 0.86% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across San Jon, New Mexico
In San Jon, 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 Quay 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 San Jon, 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. 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 San Jon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is $178 in zip code 88434, while the lowest median tax bill is $132 in zip code 88411.
Average San Jon Assessed Value
$24,403
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 San Jon, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88411 | $13,517 | $15,560 | $18,964 | $22,369 | $24,412 |
| 88434 | $4,511 | $10,585 | $24,403 | $67,060 | $112,320 |
Source: Ownwell
Property Tax Bills Across San Jon, New Mexico
In San Jon, property tax bills are calculated based on the assessed value of a home, which is determined by the Quay County assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. The median home price in San Jon is $24,403, and the tax rate in this region is relatively low compared to the national median property tax rate of 0.99%. Homeowners in San Jon can expect a wide range of property tax bills, depending on their home's assessed value. The 25th percentile tax bill is $68, while the 75th percentile tax bill is $477, and the 90th percentile tax bill reaches $818. The highest median tax bill in the area is $178 in the 88434 zip code, while the lowest is $132 in the 88411 zip code. These property taxes significantly impact homeowners' annual expenses, potentially influencing their financial planning and overall cost of living.
Average San Jon Tax Bill
$178
Average Quay County Tax Bill
$307
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across San Jon, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88411 | $94 | $108 | $132 | $155 | $169 |
| 88434 | $27 | $67 | $178 | $482 | $821 |
Source: Ownwell