Ignacio, Colorado Property Taxes
The median property tax rate in Ignacio, CO is 0.29%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With a median home value of $215,495, the typical annual property tax bill in Ignacio is $646, which is well below the national median of $2,690. Property taxes in Ignacio 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 Ignacio'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 Ignacio 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
Ignacio, 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 Ignacio Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Ignacio. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Ignacio to provide an accurate estimate of your property tax bill. This helps you understand your potential tax liabilities clearly. For those interested in more detailed insights, including neighborhood-specific trends, additional localized information is available further down the page. Your property’s assessed value, determined by La Plata County, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Ignacio, Colorado
Property taxes in Ignacio, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ignacio is 0.29%, significantly lower than both the Colorado state median of 0.51% and the U.S. national median of 0.99%. Local government entities within Ignacio set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ignacio 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 Ignacio'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 0.6%, while the lowest median tax rate is 0.21%. Understanding how these cities compare with Ignacio 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 Ignacio Tax Rate
0.29%
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 Ignacio, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81137 | 0.19% | 0.26% | 0.29% | 0.32% | 0.39% |
Source: Ownwell
Property Tax Assessment Values Across Ignacio, Colorado
In Ignacio, 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 Ignacio, 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 Ignacio helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Ignacio are both $646, found in zip code 81137.
Average Ignacio Assessed Value
$215,495
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 Ignacio, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81137 | $32,286 | $92,945 | $215,495 | $326,425 | $455,177 |
Source: Ownwell
Property Tax Bills Across Ignacio, Colorado
In Ignacio, located in La Plata County, CO, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in Ignacio stands at $215,495. Homeowners in this area can expect a property tax bill that ranges significantly. For example, the 25th percentile tax bill is around $363, while the 75th percentile reaches $924. At the higher end, the 90th percentile tax bill can go up to $1,260. Factors influencing these tax bills include the property's assessed value and the local tax rate. The assessed value is a percentage of the market value, which is then multiplied by the local tax rate to determine the annual property tax bill. This system ensures that homeowners with higher-valued properties contribute more in taxes. Compared to the national median property tax rate of 0.99%, Ignacio's property tax rates offer a relatively moderate financial impact on homeowners, making it a manageable expense for most residents.
Average Ignacio Tax Bill
$646
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 Ignacio, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81137 | $219 | $363 | $646 | $924 | $1,260 |
Source: Ownwell