Stanley, New Mexico Property Taxes
The median property tax rate in Stanley, NM is 0.51%, considerably lower than both the national median of 0.99% and the New Mexico state median of 0.86%. With the median home value in Stanley at $190,980, the typical annual property tax bill amounts to $770, significantly below the national median of $2,690. Property taxes in Stanley are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Stanley'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 Stanley 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
Stanley, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.51%
Estimate Property Tax Bill
$974
$904
Ownwell’s Stanley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stanley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stanley 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 Stanley, New Mexico
Property taxes in Stanley, New Mexico, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stanley is 0.51%, which is lower than both the New Mexico state median and the U.S. national median of 0.99%. Local government entities within Stanley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stanley 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 Stanley's effective property tax rate to other areas in New Mexico and the national median. For comparison, the zip code 87056 has the highest median property tax rate of 0.51%, while the same zip code also has the lowest median tax rate of 0.51%. Understanding how these areas compare with Stanley provides valuable insights into the varying tax landscape across Santa Fe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stanley Tax Rate
0.51%
Average Santa Fe County Tax Rate
0.55%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stanley, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87056 | 0.22% | 0.38% | 0.51% | 0.65% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Stanley, New Mexico
In Stanley, 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 Santa Fe 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 Stanley, 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 Stanley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Stanley, the median home price is $190,980, with the 25th percentile tax bill at $217 and the 75th percentile tax bill at $1,402. The highest and lowest median tax bills are both $770, found in the zip code 87056.
Average Stanley Assessed Value
$190,980
Average Santa Fe County Assessed Value
$365,234
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stanley, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87056 | $15,033 | $49,331 | $190,980 | $329,082 | $506,207 |
Source: Ownwell
Property Tax Bills Across Stanley, New Mexico
In Stanley, Santa Fe County, NM, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local government assesses properties annually to determine their taxable value. Several factors influence the tax bill, including the property's age, location, and any improvements made. For homeowners in Stanley, the property tax rate is applied to the assessed value to determine the annual tax bill. For instance, with a median home price of $190,980, the tax bill can vary significantly. The 25th percentile tax bill is around $217, while the 75th percentile reaches $1,402, and the 90th percentile can go as high as $2,390. This variation reflects differences in property values and specific assessments. Compared to the national median property tax rate of 0.99%, Stanley's tax bills can be relatively moderate or high, impacting homeowners' annual expenses. Accurate assessments and understanding of these factors are crucial for homeowners to manage their financial planning effectively.
Average Stanley Tax Bill
$770
Average Santa Fe County Tax Bill
$1,886
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Stanley, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87056 | $75 | $217 | $770 | $1,402 | $2,390 |
Source: Ownwell