Search county info online!

County Administration

County Departments




Visit Grant County!

Contact Information

Example of Calculating Applicable Tax

Taxable value on real and personal property is one third of the total appraised value, minus any allowable exemptions, such as head-of-household or veteran's exemptions. Property in New Mexico is classified as residential or non-residential and is taxed at different rates.

 
Example Of Calculating Applicable Tax
 
 
Full Value Of Property
Appraised Value
$ 100,000
Calculate Taxable Value
Appraised Value / 3
$ 100,000 / 3
$ 33,333
Subtract Exemptions
Head of Family = $ 2,000
Veterans Exemption = $ 4,000
$2,000 + $4,0000 = $ 6,000
- $ 6,0000
Net Taxable Value
 
$ 27,333
Calculate Total Taxes Owed
Net Taxable Value * Mil Rate
$ 27,333 * 0.016869
$ 461.08

 

District 01-I : In the city limits of Silver City at 2007 residential tax rate of 0.016869. see below for 2007 Tax Rate
 

TAX DISTRICT

CLASS

2006

2007

01-I

Residential

0.016373

0.016869

01-I

Non-residential

0.023262

0.023888

01-O

Residential

0.014881

0.015448

01-O

Non-residential

0.020608

0.021276

02-B

Residential

0.019245

0.019636

02-B

Non-residential

0.025812

0.026364

02-C

Residential

0.018700

0.019075

01-I

Non-residential

0.024848

0.025409

02-H

Residential

0.019319

0.019704

02-H

Non-residential

0.024165

0.024753

02-O

Residential

0.018021

0.018413

02-O

Non-residential

0.023587

0.024139

 
© 2008 by Grant County and Putting the Web to Work dot com. All rights reserved. Calendar data and other portions of this site are available with advance permission for streaming to websites owned by Grant County businesses and communities. Contact the webmaster for details.