Sandoval County, New Mexico Property Taxes
The median property tax rate in Sandoval County is 1.19%, which is significantly higher than both the national median of 0.99% and the New Mexico state median of 0.86%. With the median home value in Sandoval County, the typical annual property tax bill reaches $2,213, which is below the national median of $2,690. Property taxes in Sandoval County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Sandoval County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Rio Rancho or another part of Sandoval County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sandoval County, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$2,268
$2,105
Ownwell’s Sandoval County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Sandoval County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Sandoval County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Sandoval County, New Mexico
Property taxes in Sandoval County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Sandoval County is 1.19%, which is higher than the U.S. national median of 0.99%. Local government entities within Sandoval County set these rates annually, and they can vary significantly between different areas within the county. Each year, Sandoval County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Rio Rancho has one of the higher property tax rates in New Mexico at 1.22%, while the city of Cochiti Lake boasts one of the lowest at 0.59%. Analyzing how Sandoval County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Sandoval County Tax Rate
1.19%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sandoval County, New Mexico
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Albuquerque | 0.71% | 0.71% | 0.72% | 0.72% | 0.72% |
| Algodones | 0.66% | 0.73% | 0.81% | 0.95% | 0.98% |
| Bernalillo | 0.70% | 0.87% | 0.90% | 1.04% | 1.09% |
| Budaghers | N/A | N/A | N/A | N/A | N/A |
| Cedar Crest | N/A | N/A | N/A | N/A | N/A |
| Cochiti Lake | 0.51% | 0.55% | 0.59% | 0.62% | 0.65% |
| Cochiti Pueblo | N/A | N/A | N/A | N/A | N/A |
| Corrales | 1.04% | 1.07% | 1.09% | 1.25% | 1.25% |
| Counselor | 0.69% | 0.78% | 0.79% | 0.79% | 0.84% |
| Cuba | 0.62% | 0.77% | 0.79% | 0.90% | 0.92% |
| Cubero | N/A | N/A | N/A | N/A | N/A |
| Jemez Pueblo | 0.63% | 0.70% | 0.75% | 0.75% | 0.76% |
| Jemez Springs | 0.70% | 0.75% | 0.75% | 0.75% | 0.83% |
| La Cueva | N/A | N/A | N/A | N/A | N/A |
| La Jara | 0.65% | 0.73% | 0.79% | 0.79% | 0.82% |
| La Madera | N/A | N/A | N/A | N/A | N/A |
| Pena Blanca | 0.59% | 0.72% | 0.76% | 0.83% | 0.89% |
| Placitas | 0.71% | 0.73% | 0.74% | 0.74% | 0.74% |
| Ponderosa | 0.56% | 0.68% | 0.75% | 0.75% | 0.75% |
| Regina | 0.55% | 0.76% | 0.79% | 0.79% | 0.81% |
| Rio Rancho | 1.12% | 1.17% | 1.22% | 1.22% | 1.30% |
| Sandia Park | 0.69% | 0.71% | 0.72% | 0.72% | 0.72% |
| San Luis | N/A | N/A | N/A | N/A | N/A |
| San Ysidro | 0.70% | 0.83% | 0.94% | 0.97% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Sandoval County, New Mexico
In Sandoval County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Sandoval County Appraisal District. The assessed value, however, 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 in Sandoval County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Sandoval County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. Notably, Corrales has the highest median tax bill at $3,916, while La Madera enjoys the lowest at $120.
Property Tax Assessment Values Across Sandoval County, New Mexico
Source: Ownwell
$35,206
$287,469
$539,732
Average Sandoval County Assessed Value
$190,579
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sandoval County, New Mexico
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Albuquerque | $209,864 | $323,278 | $440,311 | $504,414 | $542,930 |
| Algodones | $12,047 | $43,724 | $106,784 | $242,935 | $366,621 |
| Bernalillo | $8,683 | $34,609 | $106,447 | $241,224 | $338,439 |
| Budaghers | N/A | N/A | N/A | N/A | N/A |
| Cedar Crest | N/A | N/A | N/A | N/A | N/A |
| Cochiti Lake | $100,177 | $124,138 | $153,460 | $195,216 | $248,739 |
| Cochiti Pueblo | N/A | N/A | N/A | N/A | N/A |
| Corrales | $104,253 | $221,266 | $350,529 | $517,116 | $720,938 |
| Counselor | $21,913 | $27,659 | $48,509 | $95,790 | $169,246 |
| Cuba | $3,940 | $10,399 | $35,206 | $73,664 | $127,720 |
| Cubero | N/A | N/A | N/A | N/A | N/A |
| Jemez Pueblo | $7,014 | $39,016 | $88,934 | $161,751 | $260,005 |
| Jemez Springs | $39,844 | $69,907 | $125,921 | $197,974 | $299,230 |
| La Cueva | N/A | N/A | N/A | N/A | N/A |
| La Jara | $6,671 | $24,227 | $55,797 | $108,789 | $170,507 |
| La Madera | N/A | N/A | N/A | N/A | N/A |
| Pena Blanca | $4,681 | $23,237 | $58,344 | $102,529 | $178,340 |
| Placitas | $119,747 | $274,503 | $380,574 | $502,800 | $617,692 |
| Ponderosa | $8,702 | $26,431 | $62,083 | $120,996 | $200,735 |
| Regina | $8,503 | $25,188 | $56,018 | $94,516 | $142,412 |
| Rio Rancho | $108,394 | $141,884 | $188,545 | $271,268 | $365,611 |
| Sandia Park | $65,994 | $231,823 | $539,732 | $646,766 | $760,244 |
| San Luis | N/A | N/A | N/A | N/A | N/A |
| San Ysidro | $5,105 | $18,595 | $48,396 | $82,338 | $158,037 |
Source: Ownwell
Property Tax Bills Across Sandoval County, New Mexico
In Sandoval County, NM, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value and serves as the basis for calculating the tax bill. Various factors, including the home's location, size, and condition, are considered in determining this assessed value. Homeowners in Sandoval County can expect to see a wide range in their tax bills. For instance, the tax bill at the 25th percentile is $1,497, while at the 75th percentile, it rises to $3,366. At the 90th percentile, the tax bill can reach up to $4,747. Despite these variations, the median home price in the county stands at $190,579. Comparatively, the highest median tax bill in the county is found in Corrales at $3,916, while the lowest is in La Madera at just $120. These differences highlight how property taxes can significantly affect homeowners depending on their property's assessed value and location within the county.
Average Sandoval County Tax Bill
$2,213
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Sandoval County, New Mexico
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Albuquerque | $1,483 | $2,284 | $3,095 | $3,573 | $3,771 |
| Algodones | $84 | $361 | $939 | $2,022 | $3,193 |
| Bernalillo | $74 | $367 | $1,133 | $2,295 | $3,114 |
| Budaghers | N/A | N/A | N/A | N/A | N/A |
| Cedar Crest | N/A | N/A | N/A | N/A | N/A |
| Cochiti Lake | $528 | $651 | $873 | $1,181 | $1,604 |
| Cochiti Pueblo | N/A | N/A | N/A | N/A | N/A |
| Corrales | $1,243 | $2,533 | $3,916 | $5,946 | $8,466 |
| Counselor | $186 | $277 | $383 | $823 | $1,583 |
| Cuba | $34 | $106 | $295 | $626 | $1,059 |
| Cubero | N/A | N/A | N/A | N/A | N/A |
| Jemez Pueblo | $48 | $286 | $651 | $1,218 | $1,968 |
| Jemez Springs | $295 | $514 | $946 | $1,479 | $2,261 |
| La Cueva | N/A | N/A | N/A | N/A | N/A |
| La Jara | $48 | $203 | $415 | $887 | $1,381 |
| La Madera | N/A | N/A | N/A | N/A | N/A |
| Pena Blanca | $38 | $190 | $426 | $827 | $1,414 |
| Placitas | $893 | $2,043 | $2,811 | $3,722 | $4,616 |
| Ponderosa | $64 | $173 | $459 | $878 | $1,467 |
| Regina | $45 | $201 | $386 | $736 | $1,129 |
| Rio Rancho | $1,241 | $1,667 | $2,263 | $3,319 | $4,579 |
| Sandia Park | $500 | $1,688 | $3,853 | $4,651 | $5,485 |
| San Luis | N/A | N/A | N/A | N/A | N/A |
| San Ysidro | $58 | $188 | $488 | $767 | $1,660 |
Source: Ownwell