Marvel, Colorado Property Taxes
The median property tax rate in Marvel, CO is 0.27%, considerably lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Marvel, the typical annual property tax bill reaches $319, significantly below the national median of $2,690. Property taxes in Marvel 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 Marvel'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 Marvel 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
Marvel, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.27%
Estimate Property Tax Bill
$339
Ownwell’s Marvel Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Marvel with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marvel 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 Marvel, Colorado
Property taxes in Marvel, Colorado, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Marvel stands at 0.27%, significantly lower than both the Colorado state median of 0.55% and the U.S. national median of 0.99%. Local government entities within Marvel set these rates annually, and they can vary considerably across different neighborhoods. Each year, Marvel 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 Marvel's effective property tax rate to other counties in Colorado and the national median. For comparison, the 81654 zip code has the highest median property tax rate of 0.77%, while the 81611 zip code has the lowest median tax rate of 0.21%. Understanding how these cities compare with Marvel 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 Marvel 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 Marvel, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81329 | 0.14% | 0.27% | 0.27% | 0.30% | 0.41% |
Source: Ownwell
Property Tax Assessment Values Across Marvel, Colorado
In Marvel, 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 Appraisal District 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 Marvel, 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 Marvel helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 81329, with a value of $319.
Average Marvel Assessed Value
$125,730
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 Marvel, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81329 | $22,604 | $39,020 | $125,730 | $205,020 | $232,680 |
Source: Ownwell
Property Tax Bills Across Marvel, Colorado
In Marvel, located in La Plata County, CO, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is determined by the county assessor and is a percentage of the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Homeowners in Marvel can expect their tax bills to vary significantly. For instance, the 25th percentile tax bill is around $173, while those in the 75th percentile pay about $537. At the higher end, the 90th percentile tax bill reaches $606. These figures are relatively lower compared to the national median property tax rate of 0.99%. This system ensures that property taxes are proportionate to property values, offering some predictability for homeowners. However, fluctuations in property values and changes in local tax rates can impact the annual tax bill, making it essential for homeowners to stay informed about local property tax trends.
Average Marvel Tax Bill
$319
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 Marvel, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81329 | $129 | $173 | $319 | $537 | $606 |
Source: Ownwell