Portales, Roosevelt County, New Mexico Property Taxes
Median Portales, NM effective property tax rate: 0.73%, significantly lower than the national median of 1.02%, but lower than the New Mexico state median of 0.86%.
Median Portales, NM home value: $21,386
Median annual Portales, NM tax bill: $158, $2,242 lower than the national median property tax bill of $2,400.
How are property taxes in Roosevelt County calculated?
Property taxes in Portales, 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 Portales’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Portales, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Portales, Roosevelt County, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.73%
Estimate Property Tax Bill
$156
$145
Property Tax Rates Across Portales, Roosevelt County, New Mexico
Local government entities in New Mexico, like those in other states, determine tax rates, and these rates can vary significantly within the state. This variation arises because each county, such as Roosevelt, calculates its necessary budget to fund essential services and divides that by the total assessed value of all taxable property within its boundaries. This process determines the property tax rate for the area. While setting these rates involves votes and legislation, this is essentially the annual procedure.
In Portales, located in Roosevelt County, the effective property tax rate can be compared to other cities in New Mexico and to the median property tax rates both statewide and nationally. With a median property tax rate of 0.73%, Portales aligns closely with the state's overall property tax landscape. This rate is notably below the national median property tax rate of 1.02%. Such comparisons highlight how property tax obligations in Portales are relatively favorable when viewed against national figures. Understanding these nuances is essential for property owners looking to manage their tax liabilities effectively.
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 Portales Tax Rate
0.73%
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 Roosevelt County Tax Rate
0.72%
Median Effective New Mexico Tax Rate
0.86%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Portales, Roosevelt County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88130 | 0.72% | 0.72% | 0.73% | 0.86% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Portales, Roosevelt County, New Mexico
When examining property taxes in Portales, 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 Roosevelt 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.
In Roosevelt 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 Portales.
For example, the median home price in Portales is $21,386, with tax bills ranging significantly across the county. The zip code 88130 has the highest median home price at $21,386.
Property Tax Assessment Values Across Portales, Roosevelt County, New Mexico
Source: Ownwell
$21,386
$59,853
$98,319
Median Portales Market Value
$21,386
Median Roosevelt County Market Value
$25,631
Median New Mexico Market Value
$121,540
Median United States Market Value
$235,294
Property Tax Assessment Values Across Portales, Roosevelt County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88130 | $1,062 | $3,879 | $21,386 | $75,486 | $131,195 |
Source: Ownwell
Property Tax Bills Across Portales, Roosevelt County, New Mexico
Median Portales Tax Bill
$158
Median Roosevelt County Tax Bill
$181
Median New Mexico Tax Bill
$1,192
Median United States Tax Bill
$2,400
Property Tax Bills Across Portales, Roosevelt County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 88130 | $8 | $29 | $158 | $622 | $1,034 |
Source: Ownwell
