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I was in another forum and while researching a part of my response found this interesting interactive map that shows how property taxes compare in counties across the country. I thought the readers of this forum might find it interesting (or maybe it's just interesting to data nerds like me ).
That is interesting. But you have that whole lighting tax factor to consider in NM. The less turnover of residences in a county, the lower the burden on a survey like this. For other states with more traditional schemes, the turnover rate wouldn't make much of a difference.
In any event, I'm pleased to say that between my brother and I, I'm gad I'm in Santa Fe Co., NM rather than Travis County, TX, where he is. TX property taxes are brutal -- 5X what mine are per this map. I wonder if the figures for TX also include the school taxes? Those can also be very steep.
Well, I meant to type "lightning tax" rather than "lighting tax", but I think you knew that. When something "sounds like a fair system", it's usually because the one doing the listening is on the beneficial end of the system. And of course there's a disclosure to a purchaser as to what the property tax is estimated to be -- that doesn't make it any easier to swallow for someone who comes from a place with a more traditional scheme where property is taxed based on value, regardless of when it was purchased.
I know, someday I'll be the long-term homeowner who's glad to have the cap in place. And taking the hit up-front is just the entry fee into the game. But still, it's an odd way to do things.
It's due to the fact Santa Fe evolved from a very charming, low population, backwater state capitol (see Two Lane Blacktop for a view of it, great movie) in one of the poorest states in the union to a world class destination over the last 30 years. A huge percentage of the locals would be priced out of homes they've owned for generations due to values going through the roof if there wasn't something done. An odd situation with an odd solution.
I used to complain about the property taxes here... but after looking at real estate in Pennsylvania I'll never do that again. New Mexico taxes really aren't too bad.
Enter the estimated market value of the property, select the tax district in which the property is located from the drop down list, and press the calculate button to compute the estimated taxes. If you are uncertain of the tax district, use the search buttons above to locate the property to determine the tax district.
Enter Estimated Market Value: $600,000
District: CI - Santa Fe School District - Inside Santa Fe city limits (Residential)
Your Estimated Taxes: $4,147.40
*Important* -- This is an estimated property tax calculation, based on the latest mill rate set by State and Local governments. The estimated tax calculation does not take into consideration any exemptions, ie; head of household, veterans, etc ... *Disclaimer: The estimated Property Tax Levy is calculated using the stated price and estimates of the applicable tax rates. The County Assessor is required by law to value the property at its “current and correct” value, which may differ from the listed price. Further, the estimated tax rate may be higher or lower than those that will actually be imposed. Accordingly, the actual tax levy may be higher or lower than the estimated amount. New Mexico law requires your real estate Broker or agent to provide you an Estimated Property Tax Levy on the Property you have submitted or intended to submit an offer to Purchase. All real estate Brokers and agents who have complied with these disclosure requirements shall be immune from suit and liability from suit relating to the Estimated Property Tax Levy.
Thank you, GreatSantaFe! You are a wealth of information.
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