How much will the mill cost me?
If you don't OWN property in Taos County the mill levy WILL NOT cause an increase in your taxes.
If you DO OWN propery in Taos County, this is how you will be effected
According to the New Mexico Department of Finance and Administration Taos County property owners are currently paying between 12.9 and 25 mills depending on their location in the county.
There are exemptions for property that is used for 'agricultural purposes'. For more information go to www.taoscouunty.org, click on the departments tab, Assessors Office, Applications and Forms. You can download the 2015 Agricultural Application.
To estimate the effect of an aditional mill on your property you can use the following equation and example.
Mill levy equation for Taos County:
*This is just an estimate, the actual amount may vary.
Property Value ÷ 3 = Net Taxable Value
Net Taxable Value x Mill Levy ÷ 1,000 = Tax Bill
If you own a piece of property with a house and its value is $300,000 your tax bill would increase by $100 a year. Your rate may even be lower if you file for tax deductable expenses on your property.
$300,000 ÷ 3 = $100,000
$100,000 x 1 ÷ 1,000 = $100
Don't focus on what the additional tax will cost per year, think about what it will save.
Holy Cross Hospital offers a large variety of services for a small community, if services were cut back, locals would have to travel to recieve some healthcare services. If you had to leave Taos regularly for medical exams and general medical services you would need to pay for travel for each trip as well as the time spent during travel. It wouldn't take many trips to Santa Fe or Albuquerque to spend more than the $100 you would spend annually for the new mill.