Fruitland, New Mexico Property Taxes
The median property tax rate in Fruitland, NM is 0.74%, which is lower than both the national median of 0.99% and the New Mexico state median of 0.86%. With a median home value of $102,755 in Fruitland, the typical annual property tax bill amounts to $772, significantly below the national median of $2,690. Property taxes in Fruitland are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Fruitland'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 Fruitland or another part of San Juan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fruitland, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$760
$706
Ownwell’s Fruitland Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Fruitland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fruitland 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 Fruitland, New Mexico
Property taxes in Fruitland, New Mexico, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fruitland is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within the city set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fruitland 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 Fruitland's effective property tax rate to other counties in New Mexico and the national median. For comparison, the 87416 zip code has the highest median property tax rate of 0.74%, while the same zip code also has the lowest median tax rate of 0.74%. Understanding how these cities compare with Fruitland provides valuable insights into the varying tax landscape across San Juan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fruitland Tax Rate
0.74%
Average San Juan County Tax Rate
0.83%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fruitland, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87416 | 0.66% | 0.73% | 0.74% | 0.76% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Fruitland, New Mexico
In Fruitland, 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 San Juan 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 Fruitland, 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 Fruitland 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 in Fruitland is 87416, with a median tax bill of $772.
Average Fruitland Assessed Value
$102,755
Average San Juan County Assessed Value
$93,508
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fruitland, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87416 | $10,949 | $30,040 | $102,755 | $166,362 | $216,008 |
Source: Ownwell
Property Tax Bills Across Fruitland, New Mexico
In Fruitland, property tax bills are calculated based on the assessed value of a home, which is determined by the San Juan County assessor's office. The assessed value is a percentage of the home's market value, and the tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the assessed value, including the home's location, size, and condition. For homeowners in Fruitland, the median home price is $102,755, which provides a baseline for understanding property tax obligations. The property tax bill can vary significantly, with the 25th percentile at $221 and the 75th percentile reaching $1,250. At the 90th percentile, homeowners might see tax bills as high as $1,623. Comparatively, the national median property tax rate is 0.99%, making Fruitland's property taxes relatively manageable. However, these taxes can still impact household budgets, making it essential for homeowners to understand how their tax bills are calculated and what factors might influence any changes.
Average Fruitland Tax Bill
$772
Average San Juan County Tax Bill
$761
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Fruitland, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87416 | $65 | $221 | $772 | $1,250 | $1,623 |
Source: Ownwell