Timberon, Otero County, New Mexico Property Taxes

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

Median Timberon, NM effective property tax rate: 0.74%, significantly lower than the national median of 1.02%, but lower than the New Mexico state median of 0.86%.
Median Timberon, NM home value: $69,169
Median annual Timberon, NM tax bill: $481, $1,919 lower than the national median property tax bill of $2,400.

How are property taxes in Otero calculated?

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

Last Updated March 1, 2025

Timberon, Otero County, New Mexico Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.74%

Estimate Property Tax Bill

$512

$475

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

Property Tax Rates Across Timberon, Otero County, New Mexico

Local government entities set tax rates, which can vary widely within a state. 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 Timberon’s effective property tax rate to other cities in New Mexico and the median property tax rates in New Mexico and the U.S. Timberon, located in Otero County, has a median property tax rate of 0.74%. This rate is relatively lower compared to the national median property tax rate of 1.02%. Homeowners in Timberon benefit from a lower tax burden compared to many other regions across the country. This favorable tax rate can be an attractive factor for potential property buyers and investors considering the area. Understanding these rates can help homeowners make informed decisions about property investments and financial planning.

Property Tax Rates Across Timberon, Otero County, New Mexico

Source: Ownwell

0.53%

0.71%

0.89%

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 Timberon Tax Rate

0.74%

Median Effective Otero County Tax Rate

0.80%

Median Effective New Mexico Tax Rate

0.86%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Timberon, Otero County, New Mexico

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
88350	0.69%	0.74%	0.74%	0.74%	0.75%

Source: Ownwell

Property Tax Assessment Values Across Timberon, Otero County, New Mexico

When examining property taxes in Timberon, 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 Otero 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 Otero 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 Timberon. For example, the median home price in Timberon is $69,169, with tax bills ranging significantly across the county. 88350 has the highest median home price at $69,169.

Property Tax Assessment Values Across Timberon, Otero County, New Mexico

Source: Ownwell

$23,540

$96,479

$169,418

Median Timberon Market Value

$69,169

Median Otero County Market Value

$117,358

Median New Mexico Market Value

$121,540

Median United States Market Value

$235,294

Property Tax Assessment Values Across Timberon, Otero County, New Mexico

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
88350	$20,056	$41,704	$69,169	$105,000	$154,785

Source: Ownwell

Property Tax Bills Across Timberon, Otero County, New Mexico

Property tax bills in Timberon, located in Otero County, NM, are determined by the assessed value of a property and the local tax rate. The median home price in this area is $69,169, and the property tax rate is applied to this value to calculate the tax bill. Homeowners in Timberon typically see tax bills around $481, which is considerably lower than the national median property tax bill of $2,400. Factors such as property size, location, and market conditions influence the assessed value, impacting the final tax bill.

For homeowners, high property taxes can strain finances. However, there are opportunities to reduce these costs. Ownwell specializes in property tax appeals and exemptions, helping homeowners ensure their property is assessed accurately. By leveraging expert knowledge and local data, Ownwell can identify discrepancies and file appeals on behalf of homeowners, potentially lowering their tax burden. This service is invaluable for Timberon residents looking to save on their property tax bills and keep more money in their pockets.

Property Tax Bills Across Timberon, Otero County, New Mexico

Source: Ownwell

$138

$602

$1,066

Median Timberon Tax Bill

$481

Median Otero County Tax Bill

$861

Median New Mexico Tax Bill

$1,192

Median United States Tax Bill

$2,400

Property Tax Bills Across Timberon, Otero County, New Mexico

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
88350	$144	$290	$481	$749	$1,129

Source: Ownwell