Calculate Property Taxes Department of Local Affairs

Property Tax Calculator & How Property Tax Works

Some states or local governments send a property tax bill annually, while others charge semi-annually or quarterly. Alternatively, property taxes can also be included in your mortgage payment, if you have an escrow account with your mortgage servicer. The tax rate for a property is determined by how many city and school districts a property lies within, and adding together the rates applied by each. Generally, every city, county, and school district has the power to levy taxes against the properties within its boundaries. Each entity calculates its required mill levy, and they are then tallied together to calculate the total mill levy.

The property tax search is provided as a public service for your convenience. For official copies of documents, please visit the Bernalillo County Assessor’s/Treasurer’s office. You can estimate what your property tax bill will be if you know the assessed value of your property and the tax levy rate.

Tax Rate or Mill Levy

You can make comparisons between cities to see differences in taxes owed within different communities. Again, keep in mind that purchasing power varies widely across the state. While a $200,000 home may be very typical in one community and therefore generate a typical tax bill using the calculator, a $200,000 home may be the exception in another community. First, visit the Collector of Revenue’s Tax Rates archive and select the applicable year’s tax rate document. For example, for 2020 taxes you would select the “2020 Tax Rates ” document on this page. Tax rates for each year are typically posted by mid-November of that year at the link above.

Property Tax Calculator & How Property Tax Works

The taxing unit subtracts this $10,000 from the current year's debt payments to lower the current year's debt service rate. Local governments levy property taxes on property owners within their locality. Governments use taxes to provide taxpayers with various services, including schools, police, fire and garbage collection. Property taxes are calculated by applying an assessment ratio to the property’s fair market value. Section 4 of the Comptroller's Tax Rate Calculation Worksheet provides information needed for calculating the additional tax rate to add to the voter-approval tax rate. School districts that do not take the state funding into account will both violate state law and levy rates that are too high.

Can you lower your property tax bill?

Additional details on the Assessment Rate and Mill Levy are below. Seniors and disabled veterans may qualify for certain Property Tax Calculator & How Property Tax Works property tax exemptions. The numbers above are only an estimate of the tax you will owe if the tax rate remains the same.

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