Mcintosh, New Mexico Property Taxes
The median property tax rate in McIntosh, NM is 0.83%, slightly lower than both the national median of 0.99% and the New Mexico state median of 0.86%. With the median home value in McIntosh, the typical annual property tax bill reaches $699, significantly below the national median of $2,690. Property taxes in McIntosh 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 McIntosh'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 McIntosh 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
Mcintosh, 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 McIntosh Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in McIntosh with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in McIntosh to provide an estimated property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in seeing trends on a neighborhood level, you can 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 Mcintosh, New Mexico
Property taxes in McIntosh, New Mexico, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in McIntosh is 0.83%, which is lower than the U.S. national median of 0.99%. Local government entities within McIntosh set these rates annually, and they can vary significantly across different neighborhoods. Each year, McIntosh 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 McIntosh's effective property tax rate to other counties in New Mexico and the national median. For comparison, the 87032 zip code, which also includes McIntosh, has the same median property tax rate of 0.83%. Understanding how these areas compare with McIntosh provides valuable insights into the varying tax landscape across Torrance County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mcintosh Tax Rate
0.83%
Average Torrance County Tax Rate
0.80%
Average New Mexico Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mcintosh, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87032 | 0.72% | 0.75% | 0.83% | 2.12% | 6.98% |
Source: Ownwell
Property Tax Assessment Values Across Mcintosh, New Mexico
In McIntosh, 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 Torrance 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 McIntosh, 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 McIntosh helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $699 in zip code 87032, while the lowest is also $699 in the same zip code.
Average Mcintosh Assessed Value
$56,214
Average Torrance County Assessed Value
$24,245
Average New Mexico Assessed Value
$121,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mcintosh, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87032 | $4,308 | $12,997 | $56,214 | $99,187 | $105,680 |
Source: Ownwell
Property Tax Bills Across Mcintosh, New Mexico
In McIntosh, Torrance County, NM, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors and reflects a percentage of the home's market value. Homeowners in McIntosh can expect varying property tax bills depending on several factors, including the home's assessed value and the local tax rate. The median home price in McIntosh is $56,214, and property tax bills can range significantly. For instance, the 25th percentile tax bill is $276, while the 75th percentile tax bill is $838. At the higher end, the 90th percentile tax bill reaches $4,783. These variations illustrate how different factors, such as property size, location, and improvements, can influence the final tax bill. Compared to the national median property tax rate of 0.99%, McIntosh homeowners experience a range of tax liabilities that can impact their financial planning. Understanding these factors can help homeowners anticipate their annual property tax expenses.
Average Mcintosh Tax Bill
$699
Average Torrance County Tax Bill
$232
Average New Mexico Tax Bill
$1,192
Average United States Tax Bill
$2,690
Property Tax Bills Across Mcintosh, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87032 | $86 | $276 | $699 | $838 | $4,783 |
Source: Ownwell