Elephant Butte, Sierra County, New Mexico Property Taxes
Median Elephant Butte, NM effective property tax rate: 0.90%, significantly lower than the national median of 1.02%, but higher than the New Mexico state median of 0.86%. Median Elephant Butte, NM home value: $81,117. Median annual Elephant Butte, NM tax bill: $608, $1,792 lower than the national median property tax bill of $2,400.
How are property taxes in Sierra County calculated?
Property taxes in Elephant Butte, NM are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Elephant Butte’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Elephant Butte, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Elephant Butte, Sierra County, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.9%
Estimate Property Tax Bill
$730
$677
Property Tax Rates Across Elephant Butte, Sierra County, New Mexico
Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Elephant Butte in Sierra County, NM, showcases a property tax rate of 0.90%, which aligns with the state's median. This rate is notably below the national median property tax rate of 1.02%. Homeowners in Elephant Butte benefit from this lower tax rate, which can translate to significant savings compared to other regions across the country. The consistency in the tax rate across Sierra County, with the highest and lowest rates both at 0.90%, offers predictability for property owners. This stability, combined with a rate lower than the national average, makes Elephant Butte an attractive location for property investment. With property taxes being a significant consideration for homeowners, understanding these rates can aid in making informed decisions about property investments.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Elephant Butte Tax Rate
0.90%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Sierra County Tax Rate
0.77%
Median Effective New Mexico Tax Rate
0.86%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Elephant Butte, Sierra County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87935 | 0.76% | 0.86% | 0.90% | 0.90% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Elephant Butte, Sierra County, New Mexico
When examining property taxes in Elephant Butte, NM, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Sierra County Appraisal District estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Sierra County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Elephant Butte.
For example, the median home price in Elephant Butte is $81,117, with tax bills ranging significantly across the county. Zip code 87935 has the highest median home price at $81,117.
Property Tax Assessment Values Across Elephant Butte, Sierra County, New Mexico
Source: Ownwell
$16,624
$60,428
$104,232
Median Elephant Butte Market Value
$81,117
Median Sierra County Market Value
$44,145
Median New Mexico Market Value
$121,540
Median United States Market Value
$235,294
Property Tax Assessment Values Across Elephant Butte, Sierra County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87935 | $12,340 | $27,534 | $81,117 | $148,293 | $209,343 |
Source: Ownwell
Property Tax Bills Across Elephant Butte, Sierra County, New Mexico
Median Elephant Butte Tax Bill
$608
Median Sierra County Tax Bill
$335
Median New Mexico Tax Bill
$1,192
Median United States Tax Bill
$2,400
Property Tax Bills Across Elephant Butte, Sierra County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87935 | $89 | $221 | $608 | $1,260 | $1,807 |
Source: Ownwell