Navajo Dam, San Juan County, New Mexico Property Taxes
The median property tax rate in Navajo Dam, NM is 0.85%, slightly below both the national median of 0.99% and the New Mexico state median of 0.86%. With the median home value in Navajo Dam being $40,748, the typical annual property tax bill amounts to $345, which is significantly lower than the national median of $2,690. Property taxes in Navajo Dam 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 Navajo Dam'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 Navajo Dam 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
Navajo Dam, San Juan County, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$346
$321
Ownwell’s Navajo Dam Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Navajo Dam with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Navajo Dam 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 Navajo Dam, San Juan County, New Mexico
Property taxes in Navajo Dam, New Mexico, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Navajo Dam is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Navajo Dam set these rates annually, and they can vary significantly across different neighborhoods. Each year, Navajo Dam 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 Navajo Dam's effective property tax rate to other areas and the national median. For comparison, the 87419 zip code has the highest median property tax rate of 0.85%, while the same zip code also has the lowest median tax rate of 0.85%. Understanding how these figures compare with Navajo Dam 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 Navajo Dam 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 Navajo Dam, San Juan County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87419 | 0.78% | 0.83% | 0.85% | 0.86% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Navajo Dam, San Juan County, New Mexico
In Navajo Dam, 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's Office 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. 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 Navajo Dam helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Navajo Dam, San Juan County, New Mexico
Source: Ownwell
$39,630
$109,117
$178,603
Average Navajo Dam Assessed Value
$40,748
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 Navajo Dam, San Juan County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87419 | $5,548 | $16,574 | $40,748 | $103,150 | $174,667 |
Source: Ownwell
Property Tax Bills Across Navajo Dam, San Juan County, New Mexico
In Navajo Dam, located in San Juan County, NM, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by the county assessor and is a percentage of the property's market value. For homeowners, this means that fluctuations in the real estate market can directly impact their tax bills. The median home price in Navajo Dam is $40,748, and property taxes are levied accordingly. Various factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. For instance, the tax bill at the 25th percentile is $125, while at the 75th percentile, it rises to $878. The highest median tax bill in the area is $345, which is relatively low compared to the national median property tax rate of 0.99%. These property tax rates can significantly affect homeowners' annual expenses, making it essential for them to stay informed and explore potential exemptions to minimize their tax burden.
Average Navajo Dam Tax Bill
$345
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 Navajo Dam, San Juan County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87419 | $43 | $125 | $345 | $878 | $1,498 |
Source: Ownwell