Questa, Taos County, New Mexico Property Taxes
The median property tax rate in Questa, NM is 0.63%, 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 Questa, the typical annual property tax bill is $79, far below the national median of $2,690. Property taxes in Questa are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Questa'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 Questa 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
Questa, Taos County, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$37
$35
Ownwell’s Questa Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Questa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Questa to project your property tax bill. This intuitive tool offers a clear understanding of potential tax liabilities, helping you plan your finances better. For those interested in more granular insights, scroll down to find neighborhood-level trends and information. Your property’s assessed value, determined by Taos County, is used for property tax calculations and accounts for any applicable exemptions.
Property Tax Rates Across Questa, Taos County, New Mexico
Property taxes in Questa, New Mexico, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Questa is 0.63%, which is lower than both the New Mexico state median and the U.S. national median of 0.99%. Local government entities within Questa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Questa 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 Questa's effective property tax rate to other areas in New Mexico and the national median. For comparison, the highest and lowest median property tax rates in Taos County are both in the zip code 87556, with a rate of 0.63%. Understanding how these rates compare with Questa provides valuable insights into the varying tax landscape across Taos County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Questa Tax Rate
0.63%
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 Questa, Taos County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87556 | 0.48% | 0.52% | 0.63% | 0.67% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across Questa, Taos County, New Mexico
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Questa, New Mexico. 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 Taos 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. In Questa, 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. For example, the median home price in Questa is $5,940, with tax bills ranging from $26 at the 25th percentile to $928 at the 90th percentile. 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 Questa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Questa, Taos County, New Mexico
Source: Ownwell
$5,940
$120,929
$235,917
Average Questa Assessed Value
$5,940
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 Questa, Taos County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87556 | $3,734 | $4,556 | $5,940 | $50,396 | $130,556 |
Source: Ownwell
Property Tax Bills Across Questa, Taos County, New Mexico
In Questa, located in Taos County, NM, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. The assessed value is a percentage of the property's market value. Homeowners in Questa can expect their property tax bills to vary significantly, with the 25th percentile tax bill being around $26 and the 75th percentile reaching up to $380. For those at the higher end, the 90th percentile tax bill can be as high as $928. These figures are influenced by the local tax rate and the assessed value of the properties. Compared to the national median property tax rate of 0.99%, Questa's tax rates can result in relatively lower tax bills due to the lower property values in the area. Understanding these factors is crucial for homeowners as it helps in budgeting for annual expenses and planning for potential tax appeals or exemptions. The variability in tax bills underscores the importance of knowing how local assessments and tax rates impact individual obligations.
Average Questa Tax Bill
$79
Average Taos County Tax Bill
$178
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Questa, Taos County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87556 | $19 | $26 | $79 | $380 | $928 |
Source: Ownwell