Ramah, Colorado Property Taxes
The median property tax rate in Ramah, CO is 0.36%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Ramah at $62,940, the typical annual property tax bill is $311, well below the national median of $2,690. Property taxes in Ramah are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Ramah's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Ramah or another part of El Paso County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ramah, Colorado Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$1,100
Ownwell’s Ramah Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ramah with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ramah to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Ramah, Colorado
Property taxes in Ramah, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ramah is 0.36%, considerably lower than both the Colorado state median of 0.51% and the U.S. national median of 0.99%. Local government entities within Ramah set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ramah estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Ramah's effective property tax rate to other counties in Colorado and the national median. For comparison, the highest median property tax rate in Colorado is 0.83%, while the lowest median tax rate is 0.21%. Understanding how these cities compare with Ramah provides valuable insights into the varying tax landscape across El Paso County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ramah Tax Rate
0.36%
Average El Paso County Tax Rate
0.42%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ramah, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80832 | 0.33% | 0.34% | 0.36% | 0.48% | 0.48% |
Source: Ownwell
Property Tax Assessment Values Across Ramah, Colorado
In Ramah, Colorado, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the El Paso County Assessor’s Office for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Ramah, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Ramah helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both found in the 80832 zip code, with a median tax bill of $311.
Average Ramah Assessed Value
$62,940
Average El Paso County Assessed Value
$319,355
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ramah, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80832 | $5,200 | $18,080 | $62,940 | $174,135 | $274,697 |
Source: Ownwell
Property Tax Bills Across Ramah, Colorado
In Ramah, CO, property tax bills are determined based on the assessed value of your home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to calculate the tax bill. Homeowners in Ramah can expect tax bills that vary significantly based on their home's value and other factors. For instance, the tax bill at the 25th percentile is $139, while at the 75th percentile, it rises to $763. At the 90th percentile, homeowners might see a tax bill as high as $1,095. These amounts are influenced by the local tax rate and the assessed value of properties in the area. Compared to the national median property tax rate of 0.99%, Ramah’s tax rates can be seen as relatively moderate. Homeowners should be aware of these factors as they can significantly impact annual expenses, making it crucial to understand how property taxes are calculated to better manage their finances.
Average Ramah Tax Bill
$311
Average El Paso County Tax Bill
$1,379
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Ramah, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80832 | $58 | $139 | $311 | $763 | $1,095 |
Source: Ownwell