Anyone who owns real estate in Rio Rancho, NM is required to pay property taxes. Failing to pay these taxes can result in the deed to your property being sold through auction to cover the amount that you owe. You can find out how much property tax you owe by visiting the website of the Sandoval County Assessor.
If your property taxes are higher than you would like, there are some steps that you can take that may help reduce them. A good place to start is by doing a parcel search for your property. The information that the county assessor has on file is used to determine how much tax you owe. Any errors in this information could cause your taxes to be higher than necessary.
For instance, if the record shows that your home has more square footage than it actually does, you may be paying more than you should. Likewise, if you had an outbuilding on your property that has since been torn down, you may be able to reduce your tax bill. If you find any errors, contact the assessor’s office to have them corrected.
You can also compare the value of your home to the value of other homes in your neighborhood. You may have grounds for an appeal if your home has been valued incorrectly. For instance, if you have an older home in a neighborhood that is filled with brand-new houses, the value of your property may be artificially inflated based on the dollar value of recent sales. Make sure that your home is not being valued the same as newer properties. If it is, consider filing an appeal.
Taking these simple steps to lower your Rio Rancho, NM real estate taxes can help you save a lot of money throughout the year.