Tajique, Torrance County, New Mexico Property Taxes

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

Median Tajique, NM effective property tax rate: 0.72%, significantly lower than the national median of 1.02%, but lower than the New Mexico state median of 0.86%.
Median Tajique, NM home value: $41,258
Median annual Tajique, NM tax bill: $294, $2,106 lower than the national median property tax bill of $2,400.

How are property taxes in Torrance calculated?

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

Last Updated March 1, 2025

Tajique, Torrance County, New Mexico Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.72%

Estimate Property Tax Bill

$297

$276

Ownwell’s Tajique Property Tax Bill Calculator is a valuable resource for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Tajique with minimal input. By simply entering your property's estimated assessed value, the calculator utilizes Tajique’s median effective tax rate to provide an accurate estimate of your property tax bill. Your property's assessed value, which is determined by the county, takes into account any exemptions you may have, ensuring a precise calculation of your tax obligations. This insightful tool not only helps you understand potential tax liabilities but also showcases how Ownwell can assist in reducing property taxes in Torrance County. For those interested in exploring more localized information, please scroll down to discover city-level trends!

Property Tax Rates Across Tajique, Torrance 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, such as Torrance County, annually estimates its budget requirements to provide essential services. The county then divides this budget by the total assessed value of all taxable properties within its jurisdiction, resulting in the property tax rate. While the process involves votes and legal considerations, this is the core method used to determine tax rates each year.

Tajique in Torrance County, New Mexico, offers an interesting case study. Its effective property tax rate can be compared to other cities within the state and against the median property tax rates in both New Mexico and across the U.S. The median property tax rate in New Mexico is notably lower than the national median of 1.02%. This difference can significantly impact homeowners' annual tax bills, providing a potential advantage for property owners in Tajique. Understanding these nuances is crucial for property owners looking to optimize their tax liabilities and ensure they are not overpaying.

Property Tax Rates Across Tajique, Torrance County, New Mexico

Source: Ownwell

0.55%

0.71%

0.87%

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 Tajique Tax Rate

0.72%

Median Effective Torrance County Tax Rate

0.80%

Median Effective New Mexico Tax Rate

0.86%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Tajique, Torrance County, New Mexico

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
87016	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Tajique, Torrance County, New Mexico

When examining property taxes in Tajique, 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 Torrance 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 Torrance 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 Tajique. For example, the median home price in Tajique is $41,258, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Tajique, Torrance County, New Mexico

Source: Ownwell

$7,642

$54,015

$100,387

Median Tajique Market Value

$41,258

Median Torrance County Market Value

$24,245

Median New Mexico Market Value

$121,540

Median United States Market Value

$235,294

Property Tax Assessment Values Across Tajique, Torrance County, New Mexico

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
87016	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Tajique, Torrance County, New Mexico

In Tajique, located in Torrance County, NM, property tax bills are determined by the assessed value of a home, which is typically a percentage of its market value, and the local tax rate. The median home price in this area is $41,258, which is significantly lower than the national median. Property tax bills here can vary, with the 25th percentile at $222 and the 75th percentile reaching $452. For those at the 90th percentile, tax bills can rise to $716, still below the national median property tax bill of $2,400. This lower tax burden can be advantageous for homeowners, but it's essential to ensure that assessments are accurate to avoid overpaying. Ownwell assists homeowners by reviewing their property assessments and identifying potential errors or opportunities for exemptions. By appealing inaccurate assessments, homeowners can potentially lower their tax bills, ensuring they're paying no more than necessary. This service can provide peace of mind and financial relief, making property ownership more affordable.

Property Tax Bills Across Tajique, Torrance County, New Mexico

Source: Ownwell

$68

$384

$699

Median Tajique Tax Bill

$294

Median Torrance County Tax Bill

$232

Median New Mexico Tax Bill

$1,192

Median United States Tax Bill

$2,400

Property Tax Bills Across Tajique, Torrance County, New Mexico

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
87016	N/A	N/A	N/A	N/A	N/A

Source: Ownwell