San Cristobal, New Mexico Property Taxes
The median property tax rate in San Cristobal, NM is 0.56%, 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 San Cristobal, the typical annual property tax bill reaches $233, significantly below the national median of $2,690. Property taxes in San Cristobal 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 San Cristobal'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 Cristobal 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 Cristobal, 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 Cristobal Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in San Cristobal with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in San Cristobal 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 Cristobal, New Mexico
Property taxes in San Cristobal, 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 San Cristobal is 0.56%, significantly lower than the U.S. national median of 0.99%. Local government entities within San Cristobal set these rates annually, and they can vary significantly across different neighborhoods. Each year, San Cristobal 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 San Cristobal's effective property tax rate to other counties in New Mexico and the national median. For comparison, the 87564 zip code has both the highest and lowest median property tax rate of 0.56%. Understanding how these areas compare with San Cristobal 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 San Cristobal Tax Rate
0.56%
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 San Cristobal, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87564 | 0.47% | 0.53% | 0.56% | 0.63% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across San Cristobal, New Mexico
In San Cristobal, 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 Taos County Assessor's Office 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 San Cristobal, 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 Cristobal helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in San Cristobal is $40,746, with tax bills ranging from $30 at the 25th percentile to $976 at the 90th percentile. The highest and lowest median tax bills are both $233 in the 87564 zip code.
Property Tax Assessment Values Across San Cristobal, New Mexico
Source: Ownwell
$4,887
$120,402
$235,917
Average San Cristobal Assessed Value
$40,746
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 San Cristobal, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87564 | $3,176 | $8,381 | $40,746 | $120,536 | $150,675 |
Source: Ownwell
Property Tax Bills Across San Cristobal, New Mexico
In San Cristobal, Taos County, NM, property tax bills are calculated based on the assessed value of a property. The local tax rate is applied to this assessed value to determine the annual tax bill. For example, with a median home price of $40,746, homeowners can expect a tax bill that varies significantly. At the 25th percentile, the tax bill is around $30, while at the 75th percentile, it rises to approximately $722. The 90th percentile sees an even higher tax bill of about $976. Factors influencing these variations include property location, improvements, and market conditions. Homeowners in the highest median tax bill zip code, 87564, encounter a median tax bill of $233, which is relatively moderate compared to national standards. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly. This variability in tax bills highlights the importance of accurate property assessments and awareness of local tax rates.
Average San Cristobal Tax Bill
$233
Average Taos County Tax Bill
$178
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across San Cristobal, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87564 | $12 | $30 | $233 | $722 | $976 |
Source: Ownwell