Example of Chaves County Property Tax Calculation
Chaves County calculates property taxes based on the assessed value of the property. To determine the assessed value, the county uses a percentage of the market value, which is set by the state.
For example, if a property has a market value of $200,000 and the state has set the assessment rate at 80%, the assessed value would be $160,000.
To calculate the property tax, the county multiplies the assessed value by the tax rate for the area. Let's say the tax rate for the area where the property is located is 1.5%, the property tax would be $2,400 (1.5% of $160,000).
It's important to note that property tax rates can vary depending on the location and other factors. Additionally, some areas may have additional taxes or fees. It's always a good idea to check with the county or a local real estate professional for specific information on property taxes in a particular area.
If you want appeal your property tax assessment - contact your local tax assessor.
Chaves County Property Tax Rates
Chaves County Property Tax Rates:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County General | $0.0312 |
| County Library | $0.0093 |
| County Health | $0.0039 |
| County Fire | $0.0126 |
| Roswell General | $0.0381 |
| Roswell Library | $0.0114 |
| Roswell Fire | $0.0188 |
The above table displays the property tax rates for Chaves County, with separate rates listed for the County and the City of Roswell. The taxes are calculated based on the assessed value of the property, with each tax listed in terms of the rate per $100 of assessed value. The taxes included in the table are County General, County Library, County Health, County Fire, Roswell General, Roswell Library, and Roswell Fire.
Who sets property tax rates in Chaves County ?
In Chaves County, property tax rates are set by the County Commission. The County Commission typically sets the property tax rates on an annual basis during budget planning meetings, which are typically held in the late summer or early fall. The County Commission is responsible for setting the tax rates in accordance with state and local laws, as well as taking into account the budget needs of the county. Property tax rates may vary between different areas of the county, depending on factors such as the assessed value of the property, local tax rates, and other factors. Property owners in Chaves County can expect to receive a tax bill in the mail each year, which will indicate the amount of property taxes due and the due date for payment.
Homestead exemptions in Chaves County ?
Table: Chaves County Homestead Exemptions and Deductions
| Exemption Type | Eligibility | Amount | Notes |
|---|---|---|---|
| Primary Residence | All homeowners | Up to $4,000 | Must be the primary residence of the homeowner |
| Veterans | Veterans | Up to $4,000 | Must have served in active duty during a recognized period of war |
| Disabled Veterans | Disabled veterans | Up to $8,000 | Must have a service-connected disability rating of 100% |
| Low-Income | Homeowners with income below a certain threshold | Up to 50% | Income limit varies based on family size |
| Senior Citizens | Homeowners over the age of 65 | Up to $4,000 | Must be the primary residence of the homeowner |
| Surviving Spouses | Widows and widowers | Up to $4,000 | Must be the primary residence of the surviving spouse |
Notes:
- Homeowners must apply for these exemptions and provide proof of eligibility.
- The amount of the exemption may be prorated based on the percentage of ownership of the property.
- These exemptions are only applicable to property taxes and do not apply to other types of taxes, such as income tax or sales tax.
When is Chaves County Property Tax due ?
Chaves County Property Tax is typically due on November 10th of each year. Property owners can make their payments using various methods, including online payments, mail-in payments, and in-person payments.
Here are the available payment methods for Chaves County Property Tax:
| Payment Method | Description |
|---|---|
| Online Payment | Property owners can make their payments online using a credit card, debit card, or electronic check. The county's website provides a secure and convenient platform for online payments. |
| Mail-in Payment | Property owners can also mail their payments to the Chaves County Treasurer's Office. The address is provided on the tax bill, and the payment must be postmarked by the due date to avoid penalties. |
| In-Person Payment | Property owners can visit the Chaves County Treasurer's Office in person to make their payments. The office is located at 1 St. Mary's Place, Suite 110, Roswell, NM 88203. Cash, check, and credit card payments are accepted. |
It's important to note that failure to pay property taxes by the due date can result in penalties and interest charges. Property owners should contact the Chaves County Treasurer's Office if they have any questions or concerns about their tax bill or payment options.
If you have more questions - contact your local tax collector.
How is Chaves County Property Tax penalty calculated ?
Chaves County Property Tax Penalty Calculation
When a property owner fails to pay their property taxes on time, a penalty is imposed by Chaves County. The penalty is calculated based on the amount of taxes owed and the number of months the taxes are overdue.
Here's an example of how the penalty is calculated:
Assume that a property owner in Chaves County owes $3,000 in property taxes for the year 2021. If they fail to pay before the deadline, the following penalties will apply:
| Month | Penalty Percentage | Penalty Amount |
|---|---|---|
| 1 | 1% | $30 |
| 2 | 2% | $60 |
| 3 | 3% | $90 |
| 4 | 4% | $120 |
| 5 | 5% | $150 |
| 6 | 6% | $180 |
| 7 and above | 1% per month | $30 per month |
So if the property owner fails to pay their property taxes for seven months, the penalty would be $600 ($30 + $60 + $90 + $120 + $150 + $180 + $30 per month thereafter). This would bring the total amount owed to $3,600.
It's important to note that Chaves County property taxes are due on December 10th of each year, and if they are not paid by April 10th of the following year, the penalty will be assessed. Therefore, it's advisable to pay property taxes on time to avoid any penalties.
In summary, property tax penalties in Chaves County are calculated based on the amount of taxes owed and the number of months the taxes are overdue. It's important for property owners to pay their taxes on time to avoid any unnecessary penalties.
We recommend contacting the Chaves County Tax Office or a local tax professional for the most up-to-date and accurate information.