Causey, Roosevelt County, New Mexico Property Taxes
The median property tax rate in Causey, NM is 0.67%, significantly lower than both the national median of 0.99% and the New Mexico state median of 0.86%. With the median home value in Causey at $33,520, the typical annual property tax bill is just $224, far below the national median of $2,690. Property taxes in Causey are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Causey'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 Causey 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
Causey, Roosevelt County, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$225
$208
Ownwell’s Causey Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Causey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Causey 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 Causey, Roosevelt County, New Mexico
Property taxes in Causey, New Mexico, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Causey is 0.67%, lower than both the New Mexico state median and the U.S. national median of 0.99%. Local government entities within Causey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Causey 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 Causey's effective property tax rate to other counties in New Mexico and the national median. For comparison, the zip code 88113 has both the highest and lowest median property tax rate of 0.67%. Understanding how these cities compare with Causey provides valuable insights into the varying tax landscape across Roosevelt County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Causey Tax Rate
0.67%
Average Roosevelt County Tax Rate
0.72%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Causey, Roosevelt County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88113 | 0.65% | 0.66% | 0.67% | 0.70% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Causey, Roosevelt County, New Mexico
In Causey, 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 local 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. In Causey, 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 Causey helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 88113, with a bill of $224, while the same zip code also has the lowest median tax bill at $224.
Property Tax Assessment Values Across Causey, Roosevelt County, New Mexico
Source: Ownwell
$21,386
$59,853
$98,319
Average Causey Assessed Value
$33,520
Average Roosevelt County Assessed Value
$25,631
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Causey, Roosevelt County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88113 | $16,050 | $22,420 | $33,520 | $166,976 | $273,002 |
Source: Ownwell
Property Tax Bills Across Causey, Roosevelt County, New Mexico
In Causey, property tax bills are calculated based on the assessed value of a home, which is determined by the Roosevelt County Assessor's Office. The assessed value is a percentage of the market value of the property, and this percentage can vary depending on local regulations. Once the assessed value is determined, it is multiplied by the local tax rate to calculate the annual tax bill. Homeowners in Causey experience a range of property tax bills. For instance, the 25th percentile tax bill is $126, while the 75th percentile tax bill is $1,178, and the 90th percentile tax bill reaches $1,828. These figures indicate significant variability in tax obligations, which can impact household budgets differently. Compared to the national median property tax rate of 0.99%, Causey's rates may be more favorable, but the actual amount paid depends heavily on the assessed value of the property. Understanding these factors is crucial for homeowners to anticipate their financial responsibilities accurately.
Average Causey Tax Bill
$224
Average Roosevelt County Tax Bill
$181
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Causey, Roosevelt County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88113 | $107 | $126 | $224 | $1,178 | $1,828 |
Source: Ownwell