Nageezi, New Mexico Property Taxes
The median property tax rate in Nageezi, NM is 0.85%, slightly lower than both the national median of 0.99% and the New Mexico state median of 0.86%. With the median home value in Nageezi, the typical annual property tax bill reaches $2,212, which is below the national median of $2,690. Property taxes in Nageezi are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Nageezi'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 Nageezi 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
Nageezi, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$2,205
$2,046
Ownwell’s Nageezi Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nageezi with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nageezi 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 Nageezi, New Mexico
Property taxes in Nageezi, 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 Nageezi is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Nageezi set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nageezi 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 Nageezi's effective property tax rate to other counties in New Mexico and the national median. For comparison, the 87037 zip code has the highest median property tax rate of 0.85%, while the 87037 zip code also has the lowest median tax rate of 0.85%. Understanding how these cities compare with Nageezi 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 Nageezi Tax Rate
0.85%
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 Nageezi, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87037 | 0.85% | 0.85% | 0.85% | 0.85% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Nageezi, New Mexico
In Nageezi, 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 Nageezi, 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 Nageezi helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area both amount to $2212 in zip code 87037, reflecting the uniformity in property tax assessments within the region.
Average Nageezi Assessed Value
$259,424
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 Nageezi, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87037 | $259,424 | $259,424 | $259,424 | $259,424 | $259,424 |
Source: Ownwell
Property Tax Bills Across Nageezi, New Mexico
In Nageezi, San Juan County, NM, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value is a percentage of the market value of the property. Homeowners in this region experience a median home price of $259,424. Property tax rates are applied to the assessed value to determine the annual tax bill. For homeowners in Nageezi, the tax bill typically falls around $2,212, which is consistent across various percentiles, including the 25th, 75th, and 90th. This uniformity suggests a stable property tax rate within the area. When compared to the national median property tax rate of 0.99%, the tax burden in Nageezi is relatively moderate. These property taxes fund essential local services such as schools, public safety, and infrastructure. Understanding how these taxes are calculated can help homeowners in Nageezi budget effectively and appreciate the value they receive from their contributions to the community.
Average Nageezi Tax Bill
$2,212
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 Nageezi, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87037 | $2,212 | $2,212 | $2,212 | $2,212 | $2,212 |
Source: Ownwell