Prowers County Property Taxes
The median property tax rate in Prowers County is 0.49%, which is significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Prowers County, the typical annual property tax bill is $253, far below the national median of $2,690. Property taxes in Prowers County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Prowers County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Lamar or another part of Prowers County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Prowers County 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 Prowers County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Prowers County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Prowers County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Prowers County, Colorado
Property taxes in Prowers County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Prowers County is 0.49%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Prowers County set these rates annually, and they can vary significantly between different areas within the county. Each year, Prowers County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Prowers County's effective property tax rate with other counties in Colorado and the national median. For comparison, the city of Wiley has one of the higher property tax rates in Colorado at 0.82%, while the city of Walsh boasts one of the lowest at 0.44%. Analyzing how Prowers County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Prowers County Tax Rate
0.49%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Prowers County, Colorado
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bristol | N/A | N/A | N/A | N/A | N/A |
| Granada | 0.25% | 0.49% | 0.49% | 0.49% | 0.81% |
| Hartman | 0.66% | 0.66% | 0.66% | 0.66% | 0.66% |
| Holly | 0.41% | 0.54% | 0.75% | 0.91% | 1.39% |
| Lamar | 0.26% | 0.49% | 0.49% | 0.49% | 0.55% |
| Two Buttes | 0.73% | 0.73% | 0.73% | 0.73% | 0.73% |
| Walsh | 0.44% | 0.44% | 0.44% | 0.44% | 0.44% |
| Wiley | 0.42% | 0.48% | 0.82% | 0.82% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Prowers County, Colorado
In Prowers County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Prowers County Appraisal District. The assessed value, however, 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. Assessment notices in Prowers County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Wiley has the highest median tax bill at $439, while Granada has the lowest at $125. Being aware of these valuation processes in Prowers County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Prowers County Assessed Value
$51,952
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Prowers County, Colorado
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bristol | N/A | N/A | N/A | N/A | N/A |
| Granada | $4,066 | $7,177 | $26,508 | $77,356 | $127,524 |
| Hartman | $42,226 | $42,226 | $42,226 | $42,226 | $42,226 |
| Holly | $2,934 | $11,824 | $33,732 | $92,670 | $155,031 |
| Lamar | $2,633 | $12,294 | $59,141 | $118,970 | $179,545 |
| Two Buttes | $32,637 | $32,637 | $32,637 | $32,637 | $32,637 |
| Walsh | $52,286 | $52,286 | $52,286 | $52,286 | $52,286 |
| Wiley | $9,850 | $26,828 | $63,429 | $108,050 | $155,054 |
Source: Ownwell
Property Tax Bills Across Prowers County, Colorado
In Prowers County, CO, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is a percentage of the property's market value. Homeowners then multiply this assessed value by the local tax rate to determine their annual tax bill. Factors such as property location, size, and any improvements made can influence the assessed value. For instance, the median home price in Prowers County is approximately $51,952. Property tax bills can vary significantly within the county, with the 25th percentile tax bill at $64 and the 75th percentile tax bill reaching $547. In some parts of the county, like Wiley, the highest median tax bill is around $439, while in Granada, it drops to $125. These variations highlight the impact of local assessments and tax rates on homeowners' annual expenses. Compared to the national median property tax rate of 0.99%, Prowers County offers a relatively affordable property tax environment, easing the financial burden on its residents.
Average Prowers County Tax Bill
$253
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690