Quay County property tax

Example of Quay County Property Tax Calculation

Quay County Property Tax calculation is done based on the property's assessed value and the tax rate set by the county.

To determine the assessed value, the Quay County Assessor's Office appraises the property and assigns a value. For example, if a property is valued at $100,000, that will be the assessed value.

Next, the tax rate set by the county is applied to the assessed value. Let's say the tax rate for Quay County is 1.5%. To calculate the property tax, multiply the assessed value by the tax rate.

Using our example, the property tax calculation would be:

$100,000 (assessed value) x 0.015 (tax rate) = $1,500 (property tax)

In summary, Quay County Property Tax is calculated based on the assessed value of the property multiplied by the tax rate set by the county.

If you want appeal your property tax assessment - contact your local tax assessor.

Quay County Property Tax Rates

The table below summarizes the Quay County Property Tax rates, expressed as a rate per $100 of assessed value:

As a tax advisor, it's important to keep in mind that property tax rates may vary from year to year and could be subject to change based on various factors. It's always a good idea to consult with local authorities or officials for the most up-to-date information.

Who sets property tax rates in Quay County ?

Quay County Property Tax Rates: Who and When?

When it comes to property tax rates in Quay County, they are set by the Quay County Commission. The Commission is made up of elected officials who oversee the county government, including tax policy.

The Commission typically sets property tax rates during its annual budgeting process, which takes place in the late summer or early fall. During this process, the Commission reviews the county's finances and determines how much revenue is needed to fund essential services like schools, law enforcement, and public works projects.

Once the Commission has determined how much money it needs to raise through property taxes, it sets the tax rate accordingly. The tax rate is expressed as a percentage of the assessed value of a property, which is determined by the Quay County Assessor's Office.

Property owners in Quay County can expect to receive their annual property tax bills in the mail in the fall, typically around November. The due date for payment is typically in December, although some property owners may have the option to pay in installments throughout the year.

Overall, property tax rates in Quay County are an important source of revenue for the county government, and are essential for funding the services that residents rely on every day.

Homestead exemptions in Quay County ?

In Quay County, New Mexico, there are several Homestead exemptions and deductions available to eligible residents. To help you better understand these exemptions and deductions, we've created a table with four columns: exemption, eligibility, amount, and notes.

It's important to note that these exemptions and deductions are specific to Quay County and may vary in other counties throughout New Mexico. Additionally, eligibility requirements and amounts may change from year to year, so it's essential to stay up-to-date on the latest information by regularly visiting the Quay County Assessor's website or contacting them directly.

When is Quay County Property Tax due ?

According to the Quay County Treasurer's Office, property taxes are due every year on November 10th. However, if that date falls on a weekend or holiday, the due date will be extended to the next business day.

Payment methods for Quay County property taxes include:

• Online payments through the Quay County website using a credit or debit card, or electronic check.
• In person at the Quay County Treasurer's Office located at 300 S 3rd St, Tucumcari, NM 88401. Cash, check, and credit/debit cards are accepted.
• By mail to the Quay County Treasurer's Office at P.O. Box 1225, Tucumcari, NM 88401. Checks are the only accepted form of payment through the mail.

It is important to note that failure to pay property taxes on time can result in late fees or even foreclosure on the property. Therefore, it is recommended to make payments promptly and to contact the Quay County Treasurer's Office if there are any questions or concerns about payment methods or due dates.

If you have more questions - contact your local tax collector.

How is Quay County Property Tax penalty calculated ?

When a property owner fails to pay their property tax on time, they may be subject to a penalty. In Quay County, New Mexico, the penalty is calculated as a percentage of the unpaid taxes. Here's an example of how it works:

Let's say a property owner owes $2,000 in property taxes for the year, due on November 1st. If they don't pay by that date, they will be charged a penalty of 1% per month on the unpaid balance. So if they pay on December 1st, their penalty would be $20 (1% of $2,000). If they waited until January 1st to pay, their penalty would be $40 (1% of $2,000 for both November and December).

Here's a breakdown of the penalty rates for each month of delinquency:

Note that if the property owner still hasn't paid by October 1st, there is an additional $15 fee added to the 2% penalty.

It's important to keep track of property tax due dates and to pay on time to avoid these penalties. Property owners can also contact the Quay County Treasurer's office for more information on property tax payments and penalties.

We recommend contacting the Quay County Tax Office or a local tax professional for the most up-to-date and accurate information.

Quay County tax offices:

• Quay County tax assessor
• Quay County tax collector
• Quay County tax commissioner
• Quay County tax appraiser
• Quay County tag office