Hesperus, Colorado Property Taxes
The median property tax rate in Hesperus, CO is 0.27%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Hesperus at $366,660, the typical annual property tax bill reaches $957, well below the national median of $2,690. Property taxes in Hesperus are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hesperus'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 Hesperus or another part of La Plata County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hesperus, 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 Hesperus Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hesperus with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hesperus 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 Hesperus, Colorado
Property taxes in Hesperus, Colorado, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hesperus is 0.27%, significantly lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Hesperus set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hesperus 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 Hesperus's effective property tax rate to other counties in Colorado and the national median. For comparison, the highest median property tax rate in the region is significantly higher, while the lowest median tax rate is even lower than Hesperus's rate. Understanding how these cities compare with Hesperus provides valuable insights into the varying tax landscape across La Plata County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hesperus Tax Rate
0.27%
Average La Plata County Tax Rate
0.25%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hesperus, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81326 | 0.19% | 0.24% | 0.27% | 0.28% | 0.34% |
Source: Ownwell
Property Tax Assessment Values Across Hesperus, Colorado
In Hesperus, 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 La Plata 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 Hesperus, 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 Hesperus helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 81326 has the highest and lowest median tax bill, both standing at $957.
Average Hesperus Assessed Value
$366,660
Average La Plata County Assessed Value
$472,120
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hesperus, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81326 | $62,290 | $186,880 | $366,660 | $625,000 | $1,089,518 |
Source: Ownwell
Property Tax Bills Across Hesperus, Colorado
Property tax bills in Hesperus, located in La Plata County, CO, are calculated based on the assessed value of the property and the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by the county assessor. Various factors such as property size, location, and improvements can influence this valuation. For homeowners in Hesperus, the median home price is $366,660. The tax bill varies significantly, with the 25th percentile at $550, the 75th percentile at $1610, and the 90th percentile reaching $2556. Compared to the national median property tax rate of 0.99%, property taxes in Hesperus are relatively manageable. Understanding these factors is crucial for homeowners, as property taxes can significantly impact annual expenses. Keeping abreast of local property tax rates and assessed values helps homeowners plan their finances better and take advantage of any available exemptions or appeals processes to potentially lower their tax burden.
Average Hesperus Tax Bill
$957
Average La Plata County Tax Bill
$1,300
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Hesperus, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81326 | $264 | $550 | $957 | $1,610 | $2,556 |
Source: Ownwell