|
Timberlake - Ramah News
Financial Archives |
|
Independent news and useful information
from the Timberlake - Ramah, New Mexico area |
|
TRnews
editors: Advisory
Board
| FY
07-08 TRLA ASSESSEMENT FEE SET McKinley County Property Valuation - How Did They Do That?! Several of us Timberlakers were quite taken aback when the 2005 McKinley County Notice of Value statements arrived the first of the month showing a rather substantial increase in the taxable value of our residences. We as taxpayers are allowed a 30-day period in which we can protest the Notice of Valuation if we feel that it considerably higher than our estimate would be. We scheduled a meeting with the assessor's office and went armed with our blueprints, building permit, and a myriad of written reasons why we felt we should not be taxed so high due to the conditions of the roads, lack of coverage by a fulltime county sheriff's deputy, etc., etc. What we dreaded as a confrontational experience actually ended up being an educational, fact-finding and cordial encounter. Hopefully the following information will assist future homebuilders and those who already have residences in place at Timberlake. The dollar amount that is placed on square footage of a home is determined by several different methods: a) the price paid per square foot on a sale of a home in Timberlake, b) new construction building permits from the state and c) neighborhood adjustments. An average house is given 100 points. If the home is higher than average, it scores higher points thus a larger percentage. A lower than average house would have a lower percentage. Cost per sq. ft. in Timberlake can be anywhere from $71 to $82. Garages, covered decks and decks assessments are based on a percentage of square footage. An average garage is 35%, covered deck 22%, and decks 8%. The total square footage is multiplied by the assigned cost per sq. ft. This gives you the full total value. This number is then divided by 3 and gives you the total taxable value. Head of Family exemption of $2000 and Veteran Exemption of $3500 ($4000 in 2006) can be subtracted from this value. McKinley County taxes $24.41/$1000 of taxable value. Gallup city residents pay $31.47/$1000 of taxable value. Example: Total
Living Space = 1800 sq. ft. Total
square footage = 1983 X $71/sq.ft. = $140,793 + $10,310 (Land) = $151,103
Total
Land Mass: 5,449.1 Square Miles Taxable land in
McKinley County: 69% is Non-taxable. Miles
of Maintained Roads in McKinley County: 85% Non Maintained Roads McKinley County collects approximately 18 million dollars in taxes, which includes about $500,000 PLT from the federal government. This money is then distributed to the state of New Mexico, schools districts, college, hospital and county. We wish to thank Phil Gutierrez at the McKinley County Assessor's Office for his patience and willingness to help educate us so we can further disseminate this information.
| ||