Ramah, Colorado Property Taxes
The median property tax rate in Ramah, CO is 0.61%, which is significantly lower than the national median of 0.99% but slightly higher than the Colorado state median of 0.55%. With the median home value in Ramah at $86,886, the typical annual property tax bill is $449, much lower than 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 like the primary residence and agricultural exemptions. Understanding Ramah'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 Ramah or another part of Lincoln 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, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Ramah is 0.61%, which is lower than 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 areas in Lincoln County and the national median. For comparison, the zip code 80832 has both the highest and lowest median property tax rate of 0.61%. Understanding how these areas compare with Ramah provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ramah Tax Rate
0.61%
Average Lincoln County Tax Rate
0.60%
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 | 0.39% | 0.48% | 0.61% | 0.68% | 0.76% |
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 Lincoln 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 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 zip code 80832 in Ramah has a median tax bill of $449.00, which is both the highest and lowest median tax bill in the area. The 25th percentile tax bill is $171, while the 75th percentile tax bill is $679.
Average Ramah Assessed Value
$86,886
Average Lincoln County Assessed Value
$108,229
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 | $2,919 | $36,697 | $86,886 | $119,893 | $171,721 |
Source: Ownwell
Property Tax Bills Across Ramah, Colorado
In Ramah, CO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Ramah is $86,886. Property taxes are determined by multiplying the assessed value by the local tax rate. For instance, the 25th percentile tax bill is $171, while the 75th percentile reaches $679, and the 90th percentile is $749. These figures highlight the range of property tax burdens homeowners might face. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and applicable exemptions. Compared to the national median property tax rate of 0.99%, Ramah's tax rates can significantly impact homeowners, especially those with properties at the higher end of the market. Understanding these factors can help homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Ramah Tax Bill
$449
Average Lincoln County Tax Bill
$650
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 | $24 | $171 | $449 | $679 | $749 |
Source: Ownwell