Example of Los Alamos County Property Tax Calculation
Los Alamos County uses a straightforward formula to calculate property taxes. The formula is based on the assessed value of the property and the tax rate.
For example, let’s say a property in Los Alamos County has an assessed value of $200,000 and the tax rate is 0.02. To calculate the property tax, you would multiply the assessed value by the tax rate.
So, the property tax for this property would be:
$200,000 x 0.02 = $4,000
This means that the owner of the property would owe $4,000 in property taxes to the county.
It's important to note that property taxes in Los Alamos County may also include additional fees and assessments depending on the location and use of the property. Property owners should consult with the county's tax assessor's office to get a complete understanding of their property tax obligations.
If you want appeal your property tax assessment - contact your local tax assessor.
Los Alamos County Property Tax Rates
Los Alamos County Property Tax Rates:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| Residential | $0.1675 |
| Commercial | $0.3675 |
| Vacant Land | $0.1125 |
| Personal | $0.3125 |
The above table lists the property tax rates for Los Alamos County, expressed in dollars per $100 of assessed value. The rates vary depending on the type of property. For residential properties, the rate is $0.1675, while for commercial properties, it is $0.3675. Vacant land is taxed at a rate of $0.1125, and personal property is taxed at a rate of $0.3125. It is important to note that these rates are subject to change and should be verified with the county before making any tax-related decisions.
Who sets property tax rates in Los Alamos County ?
Who sets property tax rates in Los Alamos County?
The Los Alamos County Council sets the property tax rates for Los Alamos County.
When are the property tax rates set?
The property tax rates are set annually during the budget process, typically in the spring or early summer.
How are property tax rates determined?
Property tax rates are determined based on the assessed value of the property and the budgetary needs of the county. The county council considers factors such as revenue projections, expenses, and community needs when setting the property tax rates.
What is the current property tax rate in Los Alamos County?
As of 2021, the property tax rate in Los Alamos County is 10.731 mills. This means that for every $1,000 of assessed value, property owners pay $10.731 in taxes.
Homestead exemptions in Los Alamos County ?
To help you navigate through the county specific homestead exemptions and deductions in Los Alamos County, New Mexico, we’ve created a table with four columns – exemption, eligibility, amount, and notes.
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Veteran | Veteran or spouse of veteran | Up to $4,000 | Only applies to taxable value |
| Head of Family | Head of household | Up to $2,000 | |
| Disability | Permanent and total disability | Up to $3,000 | Only applies to taxable value |
| Religious | Members of non-profit religious organizations | Up to 50% | Applies to assessed value |
| Low-Income | Income less than $32,000 | Up to $2,000 | |
| Wildfire Loss | Property damaged by wildfire | Varies | Must file within two years of fire |
| Agricultural | Land used for agriculture | Up to 50% | Applies to assessed value |
It's important to note that eligibility requirements and exemption amounts may vary depending on individual circumstances. For example, the amount of the Veteran exemption may differ depending on the level of disability incurred during service. Additionally, it's important to note that some exemptions are only applicable to the taxable value, while others apply to the assessed value.
Los Alamos County offers a range of homestead exemptions and deductions to help reduce the tax burden for eligible residents. For more information on eligibility requirements and exemption amounts, residents can contact their local tax assessor's office.
When is Los Alamos County Property Tax due ?
Los Alamos County Property Tax is typically due on November 10th of each year. However, if that date falls on a weekend, the due date is pushed to the next business day.
There are several payment methods available for Los Alamos County Property Tax, including:
- Online: Payments can be made online via credit card, debit card, or e-check on the Los Alamos County website.
- Mail: Payments can be sent by mail to the Los Alamos County Treasurer's Office, along with the payment coupon included with the tax bill.
- In-person: Payments can be made in person at the Los Alamos County Treasurer's Office during regular business hours.
It's important to note that failure to pay property taxes on time can result in late fees and interest charges. Therefore, it's important to make sure that payment is submitted before the deadline.
If you have more questions - contact your local tax collector.
How is Los Alamos County Property Tax penalty calculated ?
Los Alamos County calculates property tax penalties based on a specific formula. The penalty is calculated by multiplying the unpaid tax amount by a percentage rate, which is determined by the number of days the payment is overdue. Here is an example to help illustrate how the penalty is calculated:
Suppose John owns a property in Los Alamos County and owes $2,000 in property taxes. The deadline to pay the taxes is November 10th, but John misses the deadline and pays the taxes on December 15th. This means John's payment is 35 days late.
To calculate the penalty, Los Alamos County will first determine the percentage rate for a 35-day late payment. According to the county's penalty schedule, a payment that is 35 days late incurs a penalty rate of 5%.
Next, the county will apply the penalty rate to the unpaid tax amount:
$2,000 (unpaid tax amount) x 5% (penalty rate) = $100 (penalty amount)
Therefore, John would owe $2,100 ($2,000 unpaid taxes + $100 penalty) for his late payment.
In summary, the penalty for late property tax payment in Los Alamos County is calculated by multiplying the unpaid tax amount by a percentage rate based on the number of days the payment is overdue. It is important for property owners to pay their taxes on time to avoid penalties and additional fees.
We recommend contacting the Los Alamos County Tax Office or a local tax professional for the most up-to-date and accurate information.