Tucumcari, Quay County, New Mexico Property Taxes

Name: Property Tax Bills Across Tucumcari, Quay County, New Mexico
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median TUCUMCARI, NM effective property tax rate: 0.98%, slightly lower than the national median of 1.02%, but higher than the New Mexico state median of 0.86%.
Median TUCUMCARI, NM home value: $33,823
Median annual TUCUMCARI, NM tax bill: $345, $2,055 lower than the national median property tax bill of $2,400.

How are property taxes in Quay County calculated?

Property taxes in TUCUMCARI, 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 TUCUMCARI’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in TUCUMCARI, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Tucumcari, Quay County, New Mexico Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.98%

Estimate Property Tax Bill

$331

$308

Ownwell’s Tucumcari Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Tucumcari with just two data points. By entering your property's estimated assessed value, our calculator applies Tucumcari’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Quay County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Tucumcari, Quay County, New Mexico

Local government entities are responsible for setting tax rates, and these can differ significantly within a state. The process involves each county estimating its budgetary needs to provide essential services and dividing this by the total value of all taxable properties in its area, which determines the property tax rate. Although votes and legislation play a role in setting these rates and budgets, this is essentially how it is done each year.

Tucumcari in Quay County, New Mexico, offers an intriguing case study. The city's effective property tax rate is 0.98%, which is slightly below the national median of 1.02%. This rate is consistent across the city, as evidenced by the uniformity in the highest and lowest median tax rates within the 88401 zip code. Compared to the national median property tax bill of $2,400, property taxes in Tucumcari could potentially offer homeowners some relief. By examining these rates, residents and potential homeowners can better understand how Tucumcari's property taxes compare to other cities in New Mexico and the broader U.S. landscape.

Property Tax Rates Across Tucumcari, Quay County, New Mexico

Source: Ownwell

0.65%

0.82%

1.00%

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 Tucumcari Tax Rate

0.98%

Median Effective Quay County Tax Rate

0.98%

Median Effective New Mexico Tax Rate

0.86%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Tucumcari, Quay County, New Mexico

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
88401	0.77%	0.88%	0.98%	1.10%	1.10%

Source: Ownwell

Property Tax Assessment Values Across Tucumcari, Quay County, New Mexico

When examining property taxes in Tucumcari, 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 Quay County Appraisal District 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 Quay 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 Tucumcari. For example, the median home price in Tucumcari is $33,823, with tax bills ranging significantly across the county. Zip code 88401 has the highest median home price at $33,823.

Property Tax Assessment Values Across Tucumcari, Quay County, New Mexico

Source: Ownwell

$20,585

$33,988

$47,391

Median Tucumcari Market Value

$33,823

Median Quay County Market Value

$31,267

Median New Mexico Market Value

$121,540

Median United States Market Value

$235,294

Property Tax Assessment Values Across Tucumcari, Quay County, New Mexico

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
88401	$4,837	$16,050	$33,823	$67,585	$117,719

Source: Ownwell

Property Tax Bills Across Tucumcari, Quay County, New Mexico

In Tucumcari, located in Quay County, NM, property tax bills are determined based on the assessed value of the home. The assessed value is a percentage of the property's market value, which is then multiplied by the local tax rate to calculate the tax bill. With a median home price of $33,823, homeowners in Tucumcari experience relatively low property tax bills compared to the national median property tax bill of $2,400. In Tucumcari, the median tax bill is $345, which is significantly lower than the national average. However, tax bills can vary, with the 25th percentile at $154 and the 90th percentile reaching $1,096. This variation means some homeowners could be paying more than necessary. Ownwell offers valuable assistance by reviewing property assessments and identifying potential savings through appeals and exemptions. By leveraging expertise and local knowledge, Ownwell helps homeowners potentially reduce their tax burdens, ensuring they pay only their fair share and not a penny more.

Property Tax Bills Across Tucumcari, Quay County, New Mexico

Source: Ownwell

$143

$244

$345

Median Tucumcari Tax Bill

$345

Median Quay County Tax Bill

$307

Median New Mexico Tax Bill

$1,192

Median United States Tax Bill

$2,400

Property Tax Bills Across Tucumcari, Quay County, New Mexico

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
88401	$44	$154	$345	$677	$1,096

Source: Ownwell