Silver City, Sierra County, New Mexico Property Taxes

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

Median Silver City, NM effective property tax rate: 0.81%, significantly lower than the national median of 1.02%, but lower than the New Mexico state median of 0.86%.
Median Silver City, NM home value: $64,971
Median annual Silver City, NM tax bill: $525, $1,875 lower than the national median property tax bill of $2,400.

How are property taxes in Sierra calculated?

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

Last Updated March 1, 2025

Silver City, Sierra County, New Mexico Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.81%

Estimate Property Tax Bill

$526

$488

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

Property Tax Rates Across Silver City, Sierra County, New Mexico

Local government entities are responsible for setting tax rates, which can vary significantly across the state. This discrepancy arises because each county, like Sierra County, calculates its annual budget needs and divides that by the total assessed value of all taxable property within its jurisdiction. This process determines the property tax rate. While decisions on tax rates and budgets involve votes and legislative actions, this essentially summarizes the annual procedure.

In Silver City, located in Sierra County, property owners experience an effective property tax rate that is lower than the national median of 1.02%. This rate reflects the county's approach to balancing budgetary needs with the total assessed property value. When compared to other cities within New Mexico, Silver City's rate is competitive, contributing to a more manageable property tax bill for homeowners. Understanding these local tax dynamics is crucial for property owners, as it directly impacts their financial planning and the affordability of homeownership. By staying informed, residents can better navigate the complexities of property taxes and potentially explore opportunities for appeals or exemptions.

Property Tax Rates Across Silver City, Sierra County, New Mexico

Source: Ownwell

0.72%

0.81%

0.90%

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 Silver City Tax Rate

0.81%

Median Effective Sierra County Tax Rate

0.77%

Median Effective New Mexico Tax Rate

0.86%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Silver City, Sierra County, New Mexico

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
88061	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Silver City, Sierra County, New Mexico

When examining property taxes in Silver City, 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 Sierra 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 Sierra 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 Silver City. For example, the median home price in Silver City is $64,971, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Silver City, Sierra County, New Mexico

Source: Ownwell

$16,624

$60,428

$104,232

Median Silver City Market Value

$64,971

Median Sierra County Market Value

$44,145

Median New Mexico Market Value

$121,540

Median United States Market Value

$235,294

Property Tax Assessment Values Across Silver City, Sierra County, New Mexico

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
88061	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Silver City, Sierra County, New Mexico

In Silver City, Sierra County, NM, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to calculate the tax bill. For instance, with a median home price of $64,971, homeowners typically face a tax bill of around $525. This figure is notably lower than the national median property tax bill of $2,400, reflecting Silver City's more affordable housing market. However, even with relatively low tax bills, homeowners can still benefit from appealing their property taxes, especially if they believe their home has been overassessed. This is where Ownwell's expertise becomes invaluable. By analyzing property assessments and market trends, Ownwell can identify potential savings and guide homeowners through the appeal process. This not only helps reduce their tax burden but also ensures they are not overpaying. Consequently, homeowners in Silver City can enjoy peace of mind knowing their property taxes are fair and accurate.

Property Tax Bills Across Silver City, Sierra County, New Mexico

Source: Ownwell

$115

$441

$767

Median Silver City Tax Bill

$525

Median Sierra County Tax Bill

$335

Median New Mexico Tax Bill

$1,192

Median United States Tax Bill

$2,400

Property Tax Bills Across Silver City, Sierra County, New Mexico

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
88061	N/A	N/A	N/A	N/A	N/A

Source: Ownwell