Property values went up, so taxes went down slightly. That sounds antithetical, doesn’t it? And how often do you see taxes go down?
Taxes are reckoned “per thousand” or by mills. There are more per thousands being collected, so in order to collect the same amount of revenue, taxes were adjusted lower.
The only local government that sought more revenue was Truth or Consequences, which imposed a new $4.535 per thousand tax for “municipal debt,” which was approved by voters a couple of years ago to pay off $3 million in general obligation bonds for water, sewer and road repairs.
Sierra County, residential, 2023: $30.684 per $1,000 assessed property value
Residential, 2024: $29.896
Minus: $00.788
Truth or Consequences, residential, 2023: $26.221 per $1,000 assessed property value
Residential, 2024: $30.329
Plus: $4.108
Elephant Butte, residential, 2023: $28.891 per $1,000 assessed property value
Residential, 2024: $28.509
Minus: $00.382
Village of Williamsburg, residential, 2023: $26.371 per $1,000 assessed property value
Residential, 2024: $25.95
Minus: $00.421
Let us say that you own a home worth $300,000, which would be taxed on one-third its market value, which would be $100,000. If that home is in the county, you would pay $78.80 less this year than last year. If that home is in T or C, you would pay $410.08 more this year than last year. If that home is in Elephant Butte, you would pay $38.20 less this year than last year. If that home is in the Village of Williamsburg, you would pay $42.10 less than last year.