COUNTY NEWS RELEASE
On Tuesday evening, Sept. 7, the Los Alamos County Council will consider property tax rates, which are calculated by the State’s Department of Finance and Administration (DFA) based on our local Assessor’s office annual valuation report. In accordance with the Property Tax Code, property tax rates are calculated for all governmental units within the County that have imposed a tax on property. (The County, Public Schools, and UNM-LA, as well as the state.)
State statutes require that the Council issue a written order imposing the tax at the rates calculated by DFA. Using the order, the County Finance Division prepares and mails property tax bills in November.
The 2021 property tax rates for residential properties is decreasing about 1.85% percent compared to 2020. The 2021 rate for non-residential properties is increasing about .43%, compared to 2020. These changes are primarily the result of the State applying yield control to the rates imposed by the taxing entities. The State yield control formula manages how property tax revenue (yield) can change based on the annual re-valuation process. When the re-valuation increases (or decreases), the State will lower (or raise) the locally applied tax rate to manage revenue (i.e. yield control).
For more information, email the Los Alamos County Assessor’s Office at email@example.com or Call the Chief Deputy Assessor Marty Martinez at 505.662.8030.