Cotopaxi, Colorado Property Taxes
The median property tax rate in Cotopaxi, CO is 0.33%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Cotopaxi, the typical annual property tax bill reaches $439, well below the national median of $2,690. Property taxes in Cotopaxi are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Cotopaxi's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Cotopaxi or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cotopaxi, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.33%
Estimate Property Tax Bill
$507
Ownwell’s Cotopaxi Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cotopaxi with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cotopaxi 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 Cotopaxi, Colorado
Property taxes in Cotopaxi, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cotopaxi is 0.33%, significantly lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Cotopaxi set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cotopaxi 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 Cotopaxi's effective property tax rate to other counties in Colorado and the national median. Understanding how these cities compare with Cotopaxi provides valuable insights into the varying tax landscape across Fremont County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cotopaxi Tax Rate
0.33%
Average Fremont County Tax Rate
0.55%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cotopaxi, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81223 | 0.27% | 0.32% | 0.33% | 0.33% | 0.33% |
Source: Ownwell
Property Tax Assessment Values Across Cotopaxi, Colorado
In Cotopaxi, 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 Fremont County Assessor 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 Cotopaxi, 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. For instance, the median home price in Cotopaxi is $153,648, with tax bills ranging from $78 at the 25th percentile to $1,355 at the 90th percentile. The highest and lowest median tax bills in Cotopaxi are both $439.00, found in the 81223 zip code. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cotopaxi Assessed Value
$153,648
Average Fremont County Assessed Value
$205,831
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cotopaxi, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81223 | $9,307 | $23,622 | $153,648 | $283,073 | $428,462 |
Source: Ownwell
Property Tax Bills Across Cotopaxi, Colorado
In Cotopaxi, located in Fremont County, CO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor's office. The assessed value typically represents a percentage of the property's market value. For instance, with a median home price of $153,648, the property tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location, the local tax rate, and any applicable exemptions or deductions. Homeowners in Cotopaxi can expect a wide range of tax bills. For example, the 25th percentile tax bill is $78, while the 75th percentile tax bill reaches $869. At the higher end, the 90th percentile tax bill is $1,355. These property taxes play a crucial role in funding local services such as schools, infrastructure, and emergency services. For homeowners, understanding how their property tax bill is calculated helps in budgeting and financial planning, ensuring they are prepared for these annual expenses.
Average Cotopaxi Tax Bill
$439
Average Fremont County Tax Bill
$1,012
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Cotopaxi, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81223 | $31 | $78 | $439 | $869 | $1,355 |
Source: Ownwell