Lake Arthur, Eddy County, New Mexico Property Taxes

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

Median Lake Arthur, NM effective property tax rate: 0.76%, significantly lower than the national median of 1.02%, but lower than the New Mexico state median of 0.86%.
Median Lake Arthur, NM home value: $188,482
Median annual Lake Arthur, NM tax bill: $1,420, $980 lower than the national median property tax bill of $2,400.

How are property taxes in Eddy calculated?

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

Last Updated March 1, 2025

Lake Arthur, Eddy County, New Mexico Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.76%

Estimate Property Tax Bill

$1,432

$1,329

Ownwell’s Lake Arthur Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lake Arthur with just two data points. By entering your property's estimated assessed value, our calculator applies Lake Arthur’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 Eddy County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Lake Arthur, Eddy County, New Mexico

Local government entities set tax rates, which can vary widely within a state. 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. In Lake Arthur, located in Eddy County, NM, the effective property tax rate stands at 0.76%. This rate is consistent with the highest and lowest median tax rates in the area, indicating a uniformity in property tax assessments within this region. When compared to the national median property tax rate of 1.02%, Lake Arthur's rate is notably lower. This lower tax rate can offer significant savings for property owners in Lake Arthur, making it an attractive location for those seeking to reduce their annual property tax burden.

Property Tax Rates Across Lake Arthur, Eddy County, New Mexico

Source: Ownwell

0.47%

0.61%

0.76%

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 Lake Arthur Tax Rate

0.76%

Median Effective Eddy County Tax Rate

0.67%

Median Effective New Mexico Tax Rate

0.86%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Lake Arthur, Eddy County, New Mexico

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
88253	0.55%	0.73%	0.76%	0.76%	0.77%

Source: Ownwell

Property Tax Assessment Values Across Lake Arthur, Eddy County, New Mexico

When examining property taxes in Lake Arthur, 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 Eddy County Assessor 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 Eddy 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 Lake Arthur.

For example, the median home price in Lake Arthur is $188,482, with tax bills ranging significantly across the county. 88253 has the highest median home price at $188,482.

Property Tax Assessment Values Across Lake Arthur, Eddy County, New Mexico

Source: Ownwell

$17,628

$103,055

$188,482

Median Lake Arthur Market Value

$188,482

Median Eddy County Market Value

$48,197

Median New Mexico Market Value

$121,540

Median United States Market Value

$235,294

Property Tax Assessment Values Across Lake Arthur, Eddy County, New Mexico

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
88253	$24,749	$66,922	$188,482	$277,944	$350,695

Source: Ownwell

Property Tax Bills Across Lake Arthur, Eddy County, New Mexico

In Lake Arthur, located in Eddy County, NM, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by local tax authorities and reflects a percentage of the property's market value. The median home price in Lake Arthur is $188,482, which helps set the baseline for these assessments. Homeowners in the area typically see tax bills that range from the 25th percentile at $497 to the 90th percentile at $2,586, with a median tax bill of $1,420. This is notably below the national median property tax bill of $2,400, offering some relief to local residents. However, understanding the nuances of property assessments and ensuring accurate valuations can be challenging. This is where Ownwell steps in, providing expert property tax appeal and exemption services. By analyzing property assessments and identifying potential discrepancies, Ownwell helps homeowners lower their tax liabilities, ensuring they pay only their fair share and potentially saving them hundreds of dollars annually.

Property Tax Bills Across Lake Arthur, Eddy County, New Mexico

Source: Ownwell

$125

$773

$1,420

Median Lake Arthur Tax Bill

$1,420

Median Eddy County Tax Bill

$355

Median New Mexico Tax Bill

$1,192

Median United States Tax Bill

$2,400

Property Tax Bills Across Lake Arthur, Eddy County, New Mexico

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
88253	$111	$497	$1,420	$2,044	$2,586

Source: Ownwell