San Antonio, New Mexico Property Taxes
The median property tax rate in San Antonio, NM is 0.89%, slightly lower than the national median of 0.99% but higher than the New Mexico state median of 0.86%. With the median home value in San Antonio, the typical annual property tax bill reaches $141, significantly below the national median of $2,690. Property taxes in San Antonio are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding San Antonio'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 San Antonio 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
San Antonio, New Mexico Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$1,720
Ownwell’s San Antonio Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in San Antonio with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in San Antonio 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 San Antonio, New Mexico
Property taxes in San Antonio, New Mexico, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in San Antonio is 0.89%, slightly lower than the U.S. national median of 0.99%. Local government entities within San Antonio set these rates annually, and they can vary significantly across different neighborhoods. Each year, San Antonio 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. Understanding how San Antonio's effective property tax rate compares to other counties in New Mexico and the national median provides valuable insights into the varying tax landscape across Socorro County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average San Antonio Tax Rate
0.89%
Average Socorro County Tax Rate
0.98%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across San Antonio, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87832 | 0.89% | 0.89% | 0.89% | 0.89% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across San Antonio, New Mexico
In San Antonio, 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 Socorro County Appraisal District 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. 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 San Antonio helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, the highest median tax bill in the area is $141 in the 87832 zip code, while the lowest is also $141 in the same zip code.
Average San Antonio Assessed Value
$14,662
Average Socorro County Assessed Value
$10,114
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across San Antonio, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87832 | $5,130 | $8,446 | $14,662 | $37,863 | $77,728 |
Source: Ownwell
Property Tax Bills Across San Antonio, New Mexico
In San Antonio, located in Socorro County, NM, property tax bills are calculated by multiplying the assessed value of a property by the local tax rate. The assessed value is determined by the county assessor and is typically a percentage of the property's market value. Various factors such as the property's location, size, and condition are considered during assessment. Homeowners in San Antonio face a median property tax bill significantly lower than the national median property tax rate of 0.99%. For instance, the tax bill at the 25th percentile is $83, while at the 75th percentile, it rises to $338. The highest median tax bill recorded in the area is $141, which is remarkably low compared to other regions. These relatively low property tax bills can provide substantial financial relief to homeowners, making homeownership more affordable and potentially increasing the attractiveness of the area for new residents. However, it's essential for homeowners to stay informed about any changes in property assessments or tax rates that could affect their annual tax obligations.
Average San Antonio Tax Bill
$141
Average Socorro County Tax Bill
$102
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across San Antonio, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87832 | $46 | $83 | $141 | $338 | $694 |
Source: Ownwell