Rociada, New Mexico Property Taxes
The median property tax rate in Rociada, NM is 0.75%, which is notably lower than both the national median of 0.99% and the New Mexico state median of 0.86%. With a median home value of $195,236 in Rociada, the typical annual property tax bill amounts to $1,530, falling below the national median of $2,690. Property taxes in Rociada are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Rociada'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 Rociada or another part of San Miguel County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rociada, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$1,464
$1,359
Ownwell’s Rociada Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rociada with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rociada 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 Rociada, New Mexico
Property taxes in Rociada, New Mexico, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rociada is 0.75%, lower than both the New Mexico state median and the U.S. national median of 0.99%. Local government entities within Rociada set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rociada 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 Rociada's effective property tax rate to other counties in New Mexico and the national median. For comparison, the 87742 zip code has the highest median property tax rate of 0.75%, while the 87742 zip code also has the lowest median tax rate of 0.75%. Understanding how these cities compare with Rociada provides valuable insights into the varying tax landscape across San Miguel County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rociada Tax Rate
0.75%
Average San Miguel County Tax Rate
0.78%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rociada, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87742 | 0.72% | 0.75% | 0.75% | 0.75% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Rociada, New Mexico
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Rociada, New Mexico. 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 Miguel 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 Rociada, 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. The median home price in Rociada stands at $195,236, with tax bills ranging from $909 at the 25th percentile to $2,911 at the 90th percentile. The highest and lowest median tax bills are both $1,530, found in the zip code 87742. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Rociada Assessed Value
$195,236
Average San Miguel County Assessed Value
$75,272
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rociada, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87742 | $40,297 | $105,900 | $195,236 | $281,224 | $385,373 |
Source: Ownwell
Property Tax Bills Across Rociada, New Mexico
In Rociada, San Miguel County, NM, property tax bills are calculated by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by the county assessor. Factors such as property improvements, location, and market trends can influence the assessed value. For instance, with a median home price of $195,236, homeowners in Rociada can expect varying tax bills. The tax bill at the 25th percentile is around $909, while at the 75th percentile, it reaches approximately $2,159, and at the 90th percentile, it can go up to $2,911. These figures highlight the range of property tax burdens in the area, influenced by the specific characteristics and assessed values of individual properties. Compared to the national median property tax rate of 0.99%, Rociada's property taxes can be seen as relatively moderate, providing a balanced impact on homeowners in the region.
Average Rociada Tax Bill
$1,530
Average San Miguel County Tax Bill
$856
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Rociada, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87742 | $453 | $909 | $1,530 | $2,159 | $2,911 |
Source: Ownwell