Montezuma, San Miguel County, New Mexico Property Taxes

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

Median Montezuma, NM effective property tax rate: 0.75%, significantly lower than the national median of 1.02%, but lower than the New Mexico state median of 0.86%.
Median Montezuma, NM home value: $82,612
Median annual Montezuma, NM tax bill: $626, $1,774 lower than the national median property tax bill of $2,400.

How are property taxes in San Miguel calculated?

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

Last Updated March 1, 2025

Montezuma, San Miguel County, New Mexico Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.75%

Estimate Property Tax Bill

$638

$592

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

Property Tax Rates Across Montezuma, San Miguel County, New Mexico

Local government entities are responsible for setting tax rates, which can differ significantly within a state. This variation occurs because each county annually estimates its necessary budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation determines the property tax rate. While votes and legislation play a role in setting tax rates and budgets, this is the fundamental annual process. In Montezuma, located in San Miguel County, NM, the effective property tax rate provides an interesting perspective when compared to other cities within the state and the national median. New Mexico's median property tax rate stands at 0.75%, which is below the national median of 1.02%. This lower rate can result in a more manageable property tax bill, offering potential savings compared to the national median property tax bill of $2,400. Understanding these dynamics can help property owners in Montezuma make informed decisions about their property taxes and potentially explore opportunities for tax appeals or exemptions.

Property Tax Rates Across Montezuma, San Miguel County, New Mexico

Source: Ownwell

0.42%

0.68%

0.95%

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 Montezuma Tax Rate

0.75%

Median Effective San Miguel County Tax Rate

0.77%

Median Effective New Mexico Tax Rate

0.85%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Montezuma, San Miguel County, New Mexico

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
87731	0.66%	0.74%	0.75%	0.75%	0.78%

Source: Ownwell

Property Tax Assessment Values Across Montezuma, San Miguel County, New Mexico

When examining property taxes in Montezuma, 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 San Miguel 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 San Miguel 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 Montezuma. For example, the median home price in Montezuma is $82,612, with tax bills ranging significantly across the county. 87731 has the highest median home price at $82,612.

Property Tax Assessment Values Across Montezuma, San Miguel County, New Mexico

Source: Ownwell

$40,074

$137,209

$234,344

Median Montezuma Market Value

$85,090

Median San Miguel County Market Value

$77,569

Median New Mexico Market Value

$129,686

Median United States Market Value

$235,294

Property Tax Assessment Values Across Montezuma, San Miguel County, New Mexico

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
87731	$30,861	$48,078	$85,090	$167,350	$277,184

Source: Ownwell

Property Tax Bills Across Montezuma, San Miguel County, New Mexico

In Montezuma, San Miguel County, NM, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the market value, which is determined by the county assessor. Factors such as property location, size, and improvements can influence this valuation. Homeowners in Montezuma face a median property tax bill of $626, significantly lower than the national median of $2,400. However, tax bills can vary widely, with amounts ranging from $399 at the 25th percentile to $2,247 at the 90th percentile. This variation highlights the importance of ensuring that your property is assessed fairly. Ownwell can assist homeowners in Montezuma by reviewing their property assessments and identifying potential inaccuracies or overvaluations. By appealing these assessments, Ownwell can help reduce property tax bills, ensuring homeowners only pay their fair share. With expert guidance, homeowners can navigate the complexities of property tax appeals, potentially saving hundreds of dollars annually.

Property Tax Bills Across Montezuma, San Miguel County, New Mexico

Source: Ownwell

$295

$945

$1,595

Median Montezuma Tax Bill

$638

Median San Miguel County Tax Bill

$876

Median New Mexico Tax Bill

$1,249

Median United States Tax Bill

$2,400

Property Tax Bills Across Montezuma, San Miguel County, New Mexico

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
87731	$248	$412	$638	$1,259	$1,713

Source: Ownwell

Don't miss the deadline to appeal!

Dates
Appeal Deadline	May 1

Links
San Miguel Tax Assessor
Website	erecording.smcounty.net