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 Joseph R. Skeen Building |
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| County Treasurer | ||||
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Joseph R. Skeen Building |
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| County Treasurer | ||||
TAX BILL INFORMATION
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TAX BILLS ARE DUE AND PAYABLE
ON NOVEMBER 10TH OF EACH TAX YEAR |
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1st Installment: |
Due November 10th of the Tax Year, becoming delinquent after December 10th | |
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2nd Installment: |
Due the following April 10th, becoming delinquent after May 10th | |
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PENALTY AND INTEREST ON DELINQUENT TAX
INFORMATION For specific Penalty and Interest amounts due, contact the Treasurer's Office. |
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Penalty and Interest on delinquent amounts are calculated as follows: |
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Penalty: |
1% per month on delinquent TAX amount only, 5% maximum | |
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Interest: |
1% per month on delinquent TAX amount only, no maximum | |
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When delinquent dates fall on a weekend or legal Chaves County holiday, payments become delinquent at 5:00p.m. the following business day. | |
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REAL PROPERTY
THAT IS DELINQUENT FOR 3 YEARS IS REPORTED TO THE STATE OF NEW
MEXICO, PROPERTY TAX DIVISION IN JULY OF THE 3RD YEAR OF
DELINQUENCY. ONCE REPORTED, ALL TAXES PLUS A STATE COST
FEE MUST BE PAID TO KEEP THE PROPERTY FROM BEING SOLD AT AUCTION.
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Information for the NEW HOME BUYER
| Exemptions: | ||
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Exemptions are available for Head of Family and qualifying Veterans. Exemptions may be claimed from January 1st through April 30th of each year at the Chaves County Assessor's Office during the rendition period. Contact the Chaves County Assessor's Office for more information. |
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| Mobile Home Sales or Purchases: | ||
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If you are moving or selling your mobile home, the Assessor will require the new site address, new mailing address, and new owner's name as it should appear on the new title to be issued by the state Motor Vehicle Department. After all information is taken, the Assessor will send you to the Treasurer's office to get a tax release. The Treasurer will collect all prior and current calendar year taxes before signing and sealing the tax release. Your paper work must then be taken to the Motor Vehicle Department for the changes to be made. |
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| Taxes Paid by Mortgage Companies: | ||
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If you have a mortgage on your property, your mortgage company usually pays the taxes. If your mortgage company pays your taxes, you will NOT receive a tax bill. However, it is YOUR responsibility to insure that your mortgage company is paying your taxes. You can verify payment of taxes by calling the Treasurer's Office. |
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| Taxes Credited at Closing: | ||
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Since property taxes in New Mexico are based on a calendar year, your closing officer will generally impound from the seller, a pro-rated share of the current year's taxes in advance. The buyer will then be credited with the amount that seller has paid into closing. When the taxes become due, the buyer will be responsible for the entire bill since he has been credited with the seller's pro-rated amount. |
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| STEPS IN FORMING A TAX BILL | ||
| 1. | Assessor appraises property. | |
| 2. | Assessor reports values to New Mexico Department of Finance and Administration (DFA). | |
| 3. | Budgets are constructed and reported to DFA. | |
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DFA calculates yield in compliance with yield control laws for operational budgets. DFA also checks tax rates for Bond Issues that have been voted on by taxpayers. | |
| 5. | DFA checks budgets for compliance with New Mexico Statutes. | |
| 6. | DFA submits proposed tax rates to County Commissioners. | |
| 7. | County Commissioners approve tax rates with one week. | |
| 8. | Assessor issues a Tax Roll to the County Treasurer based on the mil rate and taxable values. | |
| Formula for Calculating Tax Amounts: | ||
| Appraised Value is divided by 3 to get the Assessed Value. | ||
| Exemptions are subtracted from the Assessed Value to get the Taxable Value. | ||
| Taxable Value is multiplied by mil rate then divided by 1,000 to determine yearly taxes. | ||
* See the
Chaves County Assessor's Office
web page for mil rate and exemptions information.
STATE OF NEW MEXICO