Bosque Farms, Valencia County, New Mexico Property Taxes
Median Bosque Farms, NM effective property tax rate: 1.03%, slightly higher than the national median of 1.02%, but higher than the New Mexico state median of 0.86%.
Median Bosque Farms, NM home value: $45,000
Median annual Bosque Farms, NM tax bill: $457, $1,943 lower than the national median property tax bill of $2,400.
How are property taxes in Valencia calculated?
Property taxes in Bosque Farms, 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 Bosque Farms’ property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Bosque Farms, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Bosque Farms, Valencia County, New Mexico Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.03%
Estimate Property Tax Bill
$464
$430
Property Tax Rates Across Bosque Farms, Valencia County, New Mexico
Local government entities set property tax rates, which can vary widely within a state. This happens because each county estimates its required budget to provide services annually and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
In Bosque Farms, located in Valencia County, the effective property tax rate is a point of interest. This rate can be compared to other cities within New Mexico, as well as the median property tax rates in New Mexico and the U.S. Bosque Farms has an effective property tax rate of 1.03%, which is slightly above the national median rate of 1.02%. This positions the village in line with the state's median tax rate, highlighting the consistency in property tax assessments within the region. For homeowners in Bosque Farms, understanding these rates and how they compare both statewide and nationally can provide valuable insight into 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 Bosque Farms Tax Rate
1.03%
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 Valencia County Tax Rate
0.84%
Median Effective New Mexico Tax Rate
0.86%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Bosque Farms, Valencia County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87068 | 0.79% | 0.92% | 1.03% | 1.10% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Bosque Farms, Valencia County, New Mexico
When examining property taxes in Bosque Farms, 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 Valencia 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 Valencia County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 Bosque Farms.
For example, the median home price in Bosque Farms is $45,000, with tax bills ranging significantly across the county. The zip code 87068 has the highest median home price at $45,000.
Property Tax Assessment Values Across Bosque Farms, Valencia County, New Mexico
Source: Ownwell
$16,883
$30,942
$45,000
Median Bosque Farms Market Value
$45,000
Median Valencia County Market Value
$25,479
Median New Mexico Market Value
$121,540
Median United States Market Value
$235,294
Property Tax Assessment Values Across Bosque Farms, Valencia County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87068 | $3,562 | $9,864 | $45,000 | $110,472 | $146,382 |
Source: Ownwell
Property Tax Bills Across Bosque Farms, Valencia County, New Mexico
Median Bosque Farms Tax Bill
$457
Median Valencia County Tax Bill
$228
Median New Mexico Tax Bill
$1,192
Median United States Tax Bill
$2,400
Property Tax Bills Across Bosque Farms, Valencia County, New Mexico
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 87068 | $30 | $78 | $457 | $1,178 | $1,577 |
Source: Ownwell