Taos County Property Taxes
The median property tax rate in Taos County is 0.59%, which is significantly lower than both the national median of 0.99% and the New Mexico state median of 0.86%. With the median home value in Taos County, the typical annual property tax bill reaches $178, well below the national median of $2,690. Property taxes in Taos 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 Taos 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 Taos or another part of Taos County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Taos County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$148
Ownwell’s Taos Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Taos with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Taos 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 Taos County, New Mexico
Property taxes in Taos County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Taos County is 0.59%, which is lower than both the New Mexico state median and the U.S. national median of 0.99%. Local government entities within Taos County set these rates annually, and they can vary significantly between different areas within the county. Each year, Taos 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 Taos Ski Valley has one of the higher property tax rates in New Mexico at 0.82%, while the city of Costilla boasts one of the lowest at 0.43%. Analyzing how Taos County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Taos County Tax Rate
0.59%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Taos County, New Mexico
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Amalia | 0.43% | 0.49% | 0.52% | 0.58% | 0.63% |
| Arroyo Hondo | 0.51% | 0.55% | 0.58% | 0.61% | 0.67% |
| Carson | N/A | N/A | N/A | N/A | N/A |
| Cerro | 0.43% | 0.45% | 0.50% | 0.61% | 0.65% |
| Chamisal | 0.41% | 0.46% | 0.56% | 0.58% | 0.61% |
| Costilla | 0.43% | 0.43% | 0.43% | 0.43% | 0.43% |
| El Prado | 0.41% | 0.51% | 0.56% | 0.65% | 0.79% |
| Llano | 0.57% | 0.57% | 0.58% | 0.58% | 0.58% |
| Penasco | 0.39% | 0.46% | 0.54% | 0.65% | 0.77% |
| Questa | 0.48% | 0.52% | 0.63% | 0.67% | 0.70% |
| Ranchos De Taos | 0.37% | 0.51% | 0.62% | 0.73% | 0.79% |
| Red River | 0.79% | 0.79% | 0.79% | 0.79% | 0.79% |
| San Cristobal | 0.47% | 0.53% | 0.56% | 0.63% | 0.70% |
| Taos | 0.43% | 0.52% | 0.61% | 0.65% | 0.77% |
| Taos Ski Valley | 0.60% | 0.82% | 0.82% | 0.82% | 0.84% |
| Trampas | 0.46% | 0.46% | 0.46% | 0.46% | 0.46% |
| Tres Piedras | 0.59% | 0.61% | 0.61% | 0.61% | 0.62% |
| Vadito | 0.40% | 0.48% | 0.56% | 0.59% | 0.78% |
| Valdez | 0.54% | 0.56% | 0.56% | 0.56% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Taos County, New Mexico
In Taos 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 Taos 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 Taos 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 Taos County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. Notably, Taos Ski Valley has the highest median tax bill at $2,258, while Chamisal has the lowest at $109.
Average Taos County Assessed Value
$25,092
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Taos County, New Mexico
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Amalia | $4,444 | $6,568 | $35,190 | $70,752 | $388,871 |
| Arroyo Hondo | $4,589 | $5,973 | $44,667 | $331,515 | $552,840 |
| Carson | N/A | N/A | N/A | N/A | N/A |
| Cerro | $15,860 | $27,710 | $29,643 | $39,128 | $57,762 |
| Chamisal | $4,269 | $5,415 | $16,490 | $71,756 | $129,411 |
| Costilla | $6,318 | $6,318 | $6,318 | $6,318 | $6,318 |
| El Prado | $4,640 | $6,970 | $26,952 | $140,328 | $301,060 |
| Llano | $35,388 | $52,484 | $80,976 | $109,468 | $126,564 |
| Penasco | $4,869 | $11,426 | $25,706 | $53,516 | $142,562 |
| Questa | $3,734 | $4,556 | $5,940 | $50,396 | $130,556 |
| Ranchos De Taos | $4,269 | $6,195 | $20,163 | $62,332 | $141,639 |
| Red River | $66,898 | $97,338 | $142,611 | $236,241 | $292,650 |
| San Cristobal | $3,176 | $8,381 | $40,746 | $120,536 | $150,675 |
| Taos | $4,525 | $6,665 | $30,496 | $154,947 | $331,265 |
| Taos Ski Valley | $15,814 | $168,729 | $235,917 | $415,264 | $709,028 |
| Trampas | $63,141 | $63,141 | $63,141 | $63,141 | $63,141 |
| Tres Piedras | $4,112 | $12,550 | $51,402 | $220,299 | $443,356 |
| Vadito | $4,635 | $6,330 | $16,533 | $49,434 | $141,210 |
| Valdez | $18,042 | $53,943 | $172,268 | $226,062 | $710,238 |
Source: Ownwell
Property Tax Bills Across Taos County, New Mexico
In Taos County, NM, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is a percentage of the property's market value. Various factors such as property type, location, and improvements made to the property influence this assessed value. The median home price in Taos County is $25,092, and property tax bills can vary significantly. For instance, the 25th percentile tax bill is $45, while the 75th percentile tax bill is $742. At the higher end, the 90th percentile tax bill reaches $1,852. The highest median tax bill in the county is $2,258 in Taos Ski Valley, while the lowest is $109 in Chamisal. These property tax bills impact homeowners by contributing to the overall cost of homeownership, influencing decisions on property investments and improvements. Compared to the national median property tax rate of 0.99%, Taos County presents a unique landscape for property taxes, affecting homeowners differently depending on their property's assessed value and location within the county.
Average Taos County Tax Bill
$178
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Taos County, New Mexico
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Amalia | $15 | $28 | $216 | $417 | $2,293 |
| Arroyo Hondo | $26 | $69 | $898 | $2,212 | $3,514 |
| Carson | N/A | N/A | N/A | N/A | N/A |
| Cerro | $75 | $132 | $164 | $253 | $315 |
| Chamisal | $17 | $25 | $109 | $392 | $708 |
| Costilla | $27 | $27 | $27 | $27 | $27 |
| El Prado | $25 | $49 | $187 | $982 | $1,939 |
| Llano | $204 | $302 | $465 | $628 | $725 |
| Penasco | $27 | $63 | $157 | $362 | $973 |
| Questa | $19 | $26 | $79 | $380 | $928 |
| Ranchos De Taos | $22 | $39 | $134 | $422 | $1,093 |
| Red River | $527 | $767 | $1,124 | $1,862 | $2,307 |
| San Cristobal | $12 | $30 | $233 | $722 | $976 |
| Taos | $24 | $51 | $270 | $1,122 | $2,189 |
| Taos Ski Valley | $111 | $1,300 | $2,258 | $3,464 | $5,972 |
| Trampas | $291 | $291 | $291 | $291 | $291 |
| Tres Piedras | $67 | $168 | $352 | $1,836 | $2,833 |
| Vadito | $23 | $31 | $95 | $272 | $984 |
| Valdez | $101 | $304 | $972 | $1,277 | $3,968 |
Source: Ownwell