Sandia Park, Santa Fe County, New Mexico Property Taxes
Median Sandia Park, NM effective property tax rate: 0.64%, significantly lower than the national median of 1.02%, but lower than the New Mexico state median of 0.86%.
Median Sandia Park, NM home value: $113,472
Median annual Sandia Park, NM tax bill: $659, $1,741 lower than the national median property tax bill of $2,400.
How are property taxes in Santa Fe calculated?
Property taxes in Sandia Park, 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 Sandia Park’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Sandia Park, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Sandia Park, Santa Fe County, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.64%
Estimate Property Tax Bill
$726
$674
Property Tax Rates Across Sandia Park, Santa Fe County, New Mexico
Local government entities are responsible for setting property tax rates, which can vary significantly within New Mexico. Each year, counties like Santa Fe estimate their budgetary needs to provide essential services. This budget is then divided by the total assessed value of all taxable properties within the county to determine the property tax rate. Although voting and legislation play a role in finalizing these rates, this calculation forms the core of the process.
In Sandia Park, located in Santa Fe County, the effective property tax rate is a reflection of this annual budgeting process. When comparing Sandia Park’s property tax rate to other cities in New Mexico, it’s notable that it aligns with the state’s median rate. This is relatively lower than the national median property tax rate of 1.02%. Consequently, residents in Sandia Park benefit from a more favorable property tax environment compared to many other areas across the United States. Understanding these factors can be crucial for homeowners seeking to manage their property tax obligations 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 Sandia Park Tax Rate
0.64%
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 Santa Fe County Tax Rate
0.55%
Median Effective New Mexico Tax Rate
0.86%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Sandia Park, Santa Fe County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87047 | 0.36% | 0.51% | 0.64% | 0.68% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Sandia Park, Santa Fe County, New Mexico
When examining property taxes in Sandia Park, 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 Santa Fe 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 Santa Fe 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 Sandia Park.
For example, the median home price in Sandia Park is $113,472, with tax bills ranging significantly across the county. 87047 has the highest median home price at $113,472.
Property Tax Assessment Values Across Sandia Park, Santa Fe County, New Mexico
Source: Ownwell
$113,472
$386,640
$659,808
Median Sandia Park Market Value
$113,472
Median Santa Fe County Market Value
$365,234
Median New Mexico Market Value
$121,540
Median United States Market Value
$235,294
Property Tax Assessment Values Across Sandia Park, Santa Fe County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87047 | $23,753 | $65,406 | $113,472 | $187,843 | $330,976 |
Source: Ownwell
Property Tax Bills Across Sandia Park, Santa Fe County, New Mexico
Median Sandia Park Tax Bill
$659
Median Santa Fe County Tax Bill
$1,886
Median New Mexico Tax Bill
$1,192
Median United States Tax Bill
$2,400
Property Tax Bills Across Sandia Park, Santa Fe County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87047 | $159 | $274 | $659 | $1,063 | $2,157 |
Source: Ownwell