Raton, Colfax County, New Mexico Property Taxes

Local government entities set tax rates, which can vary widely within a state. Why? 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 Raton’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 Raton, located in Colfax County, NM, property tax bills are determined by assessing the property's market value and applying the local tax rate. With a median home price of $60,938, the property tax bills in Raton can vary significantly. The 25th percentile tax bill is around $205, while the 75th percentile reaches $687, and the 90th percentile can go as high as $1,053. Compared to the national median property tax bill of $2,400, Raton's tax bills are considerably lower. However, homeowners still feel the impact, especially if their property is assessed at a higher value.

Ownwell provides a valuable service by helping homeowners appeal their property tax assessments and seek exemptions, potentially lowering their tax bills. By leveraging expert knowledge and experience, Ownwell can identify discrepancies in property assessments and ensure that homeowners in Raton are not overpaying. This proactive approach can lead to significant savings, allowing homeowners to allocate their resources more effectively.