Prewitt, Cibola County, New Mexico Property Taxes

Name: Property Tax Bills Across Prewitt, Cibola County, New Mexico
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Prewitt, NM effective property tax rate: 0.95%, slightly lower than the national median of 1.02%, but higher than the New Mexico state median of 0.86%.
Median Prewitt, NM home value: $26,137
Median annual Prewitt, NM tax bill: $241, $2,159 lower than the national median property tax bill of $2,400.

How are property taxes in Cibola calculated?

Property taxes in Prewitt, 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 Prewitt’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Prewitt, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Prewitt, Cibola County, New Mexico Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.95%

Estimate Property Tax Bill

$248

$230

Ownwell’s Prewitt Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Prewitt with just two data points. By entering your property's estimated assessed value, our calculator applies Prewitt’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Cibola. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Prewitt, Cibola County, New Mexico

Local government entities set tax rates, which can vary widely within a state. This variability arises because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Prewitt’s effective property tax rate to other cities in New Mexico and the median property tax rates in New Mexico and the U.S.

In Prewitt, located in Cibola County, the effective property tax rate is 0.95%. This rate aligns with the highest and lowest median tax rates in the county, both recorded at 0.95% in the 87045 zip code. Compared to the national median property tax rate of 1.02%, Prewitt's rate is slightly lower. This means property owners in Prewitt could potentially pay less in property taxes compared to the national average, providing a financial advantage for residents. Understanding these rates is crucial for homeowners aiming to manage their property tax liabilities effectively.

Property Tax Rates Across Prewitt, Cibola County, New Mexico

Source: Ownwell

0.63%

0.85%

1.06%

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 Prewitt Tax Rate

0.95%

Median Effective Cibola County Tax Rate

0.98%

Median Effective New Mexico Tax Rate

0.86%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Prewitt, Cibola County, New Mexico

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
87045	0.75%	0.94%	0.95%	0.95%	0.95%

Source: Ownwell

Property Tax Assessment Values Across Prewitt, Cibola County, New Mexico

When examining property taxes in Prewitt, 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 Cibola County appraisal district 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.

In Cibola County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 Prewitt. For example, the median home price in Prewitt is $26,137, with tax bills ranging significantly across the county. Zip code 87045 has the highest median home price at $26,137.

Property Tax Assessment Values Across Prewitt, Cibola County, New Mexico

Source: Ownwell

$25,925

$63,601

$101,276

Median Prewitt Market Value

$26,137

Median Cibola County Market Value

$45,831

Median New Mexico Market Value

$121,540

Median United States Market Value

$235,294

Property Tax Assessment Values Across Prewitt, Cibola County, New Mexico

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
87045	$6,970	$11,712	$26,137	$36,960	$56,624

Source: Ownwell

Property Tax Bills Across Prewitt, Cibola County, New Mexico

In Prewitt, located in Cibola County, NM, property tax bills are calculated based on the assessed value of a home. This is determined by the local assessor's office, which estimates the property's market value to calculate the assessed value. The median home price in Prewitt is $26,137, resulting in a property tax bill that typically ranges from $109 at the 25th percentile to $518 at the 90th percentile. The median tax bill in the area is $241, significantly lower than the national median property tax bill of $2,400. For homeowners, these taxes are a crucial consideration in overall housing costs. Ownwell can assist homeowners in Prewitt by providing property tax appeal services, potentially reducing their tax liabilities. Through detailed analysis and expert guidance, Ownwell helps ensure that property assessments are fair, enabling homeowners to save money and alleviate financial burdens. By challenging over-assessments, homeowners can achieve substantial savings on their property tax bills.

Property Tax Bills Across Prewitt, Cibola County, New Mexico

Source: Ownwell

$190

$564

$937

Median Prewitt Tax Bill

$241

Median Cibola County Tax Bill

$449

Median New Mexico Tax Bill

$1,192

Median United States Tax Bill

$2,400

Property Tax Bills Across Prewitt, Cibola County, New Mexico

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
87045	$66	$109	$241	$338	$518

Source: Ownwell