La Jara, New Mexico Property Taxes
The median property tax rate in LA JARA, NM is 0.79%, 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 $55,797 in LA JARA, the typical annual property tax bill amounts to $415, significantly below the national median of $2,690. Property taxes in LA JARA are calculated based on the tax assessed value, often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding LA JARA'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 LA JARA 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
La Jara, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$441
$409
Ownwell’s LA JARA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LA JARA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LA JARA 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 La Jara, New Mexico
Property taxes in LA JARA, New Mexico, are vital for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in LA JARA is 0.79%, which is lower than the New Mexico state median of 0.80% and the U.S. national median of 0.99%. Local government entities within LA JARA set these rates annually, and they can vary significantly across different neighborhoods. Each year, LA JARA 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 LA JARA's effective property tax rate to other counties in New Mexico and the national median. For comparison, the 87027 zip code has both the highest and lowest median property tax rate of 0.79%. Understanding how these areas compare with LA JARA provides valuable insights into the varying tax landscape across Sandoval County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average La Jara Tax Rate
0.79%
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 La Jara, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87027 | 0.65% | 0.73% | 0.79% | 0.79% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across La Jara, New Mexico
In LA JARA, 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 Sandoval 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 LA JARA, 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 LA JARA helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 87027 has the highest median tax bill at $415, while the lowest is also in the same zip code, demonstrating a consistent tax environment.
Average La Jara Assessed Value
$55,797
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 La Jara, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87027 | $6,671 | $24,227 | $55,797 | $108,789 | $170,507 |
Source: Ownwell
Property Tax Bills Across La Jara, New Mexico
Property tax bills in La Jara, located in Sandoval County, NM, are calculated based on the assessed value of a property. The assessed value is determined by the county assessor and is influenced by factors such as the property's market value, location, and any improvements made to the property. In La Jara, the median home price is $55,797. Homeowners can expect their tax bills to vary within a range, with the 25th percentile tax bill at $203 and the 75th percentile tax bill at $887. For those at the higher end, the 90th percentile tax bill reaches $1,381. This variation highlights how different factors, including property size and enhancements, can impact the tax amount. Comparatively, the highest and lowest median tax bills in the area are both $415, which is significantly below the national median property tax rate of 0.99%. This relatively lower tax rate can be beneficial for homeowners, making property ownership more affordable in La Jara.
Average La Jara Tax Bill
$415
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 La Jara, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87027 | $48 | $203 | $415 | $887 | $1,381 |
Source: Ownwell