Kirtland, New Mexico Property Taxes
The median property tax rate in Kirtland, 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 $39,630 in Kirtland, the typical annual property tax bill is $277, significantly below the national median of $2,690. Property taxes in Kirtland are calculated based on the assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural land. Understanding Kirtland's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Kirtland or another part of San Juan County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kirtland, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$293
$272
Ownwell’s Kirtland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kirtland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kirtland 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 Kirtland, New Mexico
Property taxes in Kirtland, 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 Kirtland is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Kirtland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kirtland 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 Kirtland's effective property tax rate to other counties in New Mexico and the national median. For comparison, the zip code 87417 has both the highest and lowest median property tax rate of 0.74%. Understanding how these areas compare with Kirtland 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 Kirtland 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 Kirtland, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87417 | 0.65% | 0.73% | 0.74% | 0.76% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Kirtland, New Mexico
In Kirtland, 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 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 Kirtland, 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 Kirtland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Kirtland are both $277, found in zip code 87417.
Average Kirtland Assessed Value
$39,630
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 Kirtland, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87417 | $3,214 | $14,550 | $39,630 | $128,224 | $171,821 |
Source: Ownwell
Property Tax Bills Across Kirtland, New Mexico
In Kirtland, San Juan County, NM, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Kirtland is $39,630, and the tax rate applied to this value determines the final tax bill. The tax bill can vary significantly, with the 25th percentile at $91 and the 75th percentile reaching $948. At the 90th percentile, homeowners might see a tax bill as high as $1,308. Several factors influence the property tax bill, including the home's assessed value, local tax rates, and any applicable exemptions. These taxes fund essential community services such as schools, public safety, and infrastructure. For homeowners, understanding these factors is crucial as they directly impact annual expenses. Compared to the national median property tax rate of 0.99%, Kirtland's rates can be relatively modest, offering some financial relief to residents. However, the variability in tax bills highlights the importance of staying informed and potentially seeking professional advice to manage property taxes effectively.
Average Kirtland Tax Bill
$277
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 Kirtland, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87417 | $21 | $91 | $277 | $948 | $1,308 |
Source: Ownwell