Cuba, Sandoval County, New Mexico Property Taxes
Median Cuba, NM effective property tax rate: 0.79%, significantly lower than the national median of 1.02%, but lower than the New Mexico state median of 0.86%.
Median Cuba, NM home value: $35,206
Median annual Cuba, NM tax bill: $295, $2,105 lower than the national median property tax bill of $2,400.
How are property taxes in Sandoval calculated?
Property taxes in Cuba, 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 Cuba’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Cuba, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Cuba, Sandoval County, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.79%
Estimate Property Tax Bill
$278
$258
Property Tax Rates Across Cuba, Sandoval County, New Mexico
Local government entities set property tax rates, which can differ significantly within a state. This variation is primarily because each county annually estimates its budgetary needs to provide essential services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and legislation play a role in setting these rates and budgets, this is the core of the annual process.
In Cuba, located in Sandoval County, New Mexico, the effective property tax rate stands at 0.79%. This rate is notably lower than the national median property tax rate of 1.02%. Such a comparison highlights the relatively favorable tax environment in Cuba, especially when considering the median property tax rates across New Mexico and the broader U.S. This advantageous rate can be a compelling factor for property owners considering an appeal or exemption to reduce their tax burden further. Understanding these dynamics is crucial for property owners aiming to make informed decisions about their property tax obligations.
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 Cuba Tax Rate
0.79%
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 Sandoval County Tax Rate
1.19%
Median Effective New Mexico Tax Rate
0.86%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Cuba, Sandoval County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87013 | 0.62% | 0.77% | 0.79% | 0.90% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Cuba, Sandoval County, New Mexico
When examining property taxes in Cuba, New Mexico, 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 Sandoval 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.
In Sandoval County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Cuba. For example, the median home price in Cuba is $35,206, with tax bills ranging significantly across the county. Zip code 87013 has the highest median home price at $35,206.
Property Tax Assessment Values Across Cuba, Sandoval County, New Mexico
Source: Ownwell
$35,206
$287,469
$539,732
Median Cuba Market Value
$35,206
Median Sandoval County Market Value
$190,579
Median New Mexico Market Value
$121,540
Median United States Market Value
$235,294
Property Tax Assessment Values Across Cuba, Sandoval County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87013 | $3,940 | $10,399 | $35,206 | $73,664 | $127,720 |
Source: Ownwell
Property Tax Bills Across Cuba, Sandoval County, New Mexico
Median Cuba Tax Bill
$295
Median Sandoval County Tax Bill
$2,213
Median New Mexico Tax Bill
$1,192
Median United States Tax Bill
$2,400
Property Tax Bills Across Cuba, Sandoval County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87013 | $34 | $106 | $295 | $626 | $1,059 |
Source: Ownwell