Edgewood, Bernalillo County, New Mexico Property Taxes
Median Edgewood, NM effective property tax rate: 0.90%, slightly lower than the national median of 1.02%, but higher than the New Mexico state median of 0.86%.
Median Edgewood, NM home value: $69,800
Median annual Edgewood, NM tax bill: $1,529, $871 lower than the national median property tax bill of $2,400.
How are property taxes in Bernalillo calculated?
Property taxes in Edgewood, NM are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Edgewood’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Edgewood, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Edgewood, Bernalillo County, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.9%
Estimate Property Tax Bill
$795
$738
Property Tax Rates Across Edgewood, Bernalillo County, New Mexico
Local government entities determine tax rates, leading to significant variations within a state. Each year, counties calculate their required budget for services and divide it by the total assessed value of all taxable properties within their jurisdiction. This calculation determines the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is the fundamental annual process.
In Edgewood, located in Bernalillo County, the effective property tax rate is a reflection of this process. When compared to other cities in New Mexico and the national median, Edgewood's rate offers a unique perspective on local property taxation. The median property tax rate in New Mexico is slightly below the national median, providing homeowners with a relatively lower tax burden. This can be an attractive feature for potential property owners looking to balance affordability with quality local services. Understanding these nuances can help property owners make informed decisions and potentially save on property taxes.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Edgewood Tax Rate
0.90%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Bernalillo County Tax Rate
1.37%
Median Effective New Mexico Tax Rate
0.85%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Edgewood, Bernalillo County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87015 | 0.87% | 0.89% | 0.90% | 0.92% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Edgewood, Bernalillo County, New Mexico
When examining property taxes in Edgewood, NM, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Bernalillo County Assessor’s Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
Assessment notices:
In Bernalillo County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Edgewood.
For example, the median home price in Edgewood is $69,800, with tax bills ranging significantly across the county. 87015 has the highest median home price at $69,800.
Property Tax Assessment Values Across Edgewood, Bernalillo County, New Mexico
Source: Ownwell
$88,340
$306,018
$523,696
Median Edgewood Market Value
$88,340
Median Bernalillo County Market Value
$179,853
Median New Mexico Market Value
$129,686
Median United States Market Value
$235,294
Property Tax Assessment Values Across Edgewood, Bernalillo County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87015 | $5,420 | $19,975 | $88,340 | $233,518 | $340,644 |
Source: Ownwell
Property Tax Bills Across Edgewood, Bernalillo County, New Mexico
In Edgewood, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the market value, which is influenced by factors such as location, property size, and local amenities. Homeowners in Edgewood, located in Bernalillo County, pay a median property tax bill of $1,529, which is below the national median of $2,400. This relatively lower tax bill can be attributed to the area's median home price of $69,800. However, tax bills can vary significantly, with the 25th percentile at $621 and the 90th percentile reaching $3,268.
Homeowners may find these variations challenging, but Ownwell can help. By providing expert property tax appeal and exemption services, Ownwell ensures that homeowners are not overpaying on their property taxes. Through a thorough review of assessments and market data, Ownwell identifies opportunities for tax savings, helping homeowners reduce their financial burden and keep more money in their pockets.
Median Edgewood Tax Bill
$1,713
Median Bernalillo County Tax Bill
$2,681
Median New Mexico Tax Bill
$1,249
Median United States Tax Bill
$2,400
Property Tax Bills Across Edgewood, Bernalillo County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87015 | $297 | $667 | $1,713 | $2,488 | $3,393 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | May 1 |
Links | |
|---|---|
| Bernalillo Tax Assessor | |
| Website | assessor.bernco.gov |