Granada, Colorado Property Taxes
The median property tax rate in Granada, CO is 0.49%, considerably lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Granada, the typical annual property tax bill reaches $125, significantly below the national median of $2,690. Property taxes in Granada 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 Granada'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 Granada 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
Granada, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.49%
Estimate Property Tax Bill
$130
Ownwell’s Granada Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Granada with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Granada 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 Granada, Colorado
Property taxes in Granada, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Granada 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 Granada set these rates annually, and they can vary significantly across different neighborhoods. Each year, Granada 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 Granada's effective property tax rate to other counties in Colorado and the national median. For comparison, the 81041 zip code has the highest median property tax rate of 0.49%, while the same zip code also has the lowest median tax rate of 0.49%. Understanding how these cities compare with Granada provides valuable insights into the varying tax landscape across Prowers, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Granada Tax Rate
0.49%
Average Prowers County Tax Rate
0.49%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Granada, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81041 | 0.25% | 0.49% | 0.49% | 0.49% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Granada, Colorado
In Granada, 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 Prowers 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 Granada, 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. The median home price in Granada is $26,508, with property tax bills ranging significantly. The 25th percentile tax bill is $35, while the 75th percentile tax bill is $363, and the 90th percentile tax bill reaches $683. The highest and lowest median tax bill in the area is $125, located in zip code 81041. Being aware of these valuation processes in Granada helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Granada Assessed Value
$26,508
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 Granada, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81041 | $4,066 | $7,177 | $26,508 | $77,356 | $127,524 |
Source: Ownwell
Property Tax Bills Across Granada, Colorado
In Granada, located in Prowers County, CO, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The median home price in Granada is $26,508, and the property tax rate is applied to this value to calculate the annual tax bill. Several factors influence the final tax bill, including the assessed value of the property, any applicable exemptions, and the specific tax rate set by local authorities. Homeowners in Granada typically see a wide range of tax bills. For example, the tax bill at the 25th percentile is $35, while at the 75th percentile, it reaches $363, and at the 90th percentile, it can go up to $683. This variation shows the impact of differing property values and exemptions on tax amounts. The highest and lowest median tax bills in Granada are both recorded at $125, indicating some consistency in the tax assessments within the area. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan accordingly.
Average Granada Tax Bill
$125
Average Prowers County Tax Bill
$253
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Granada, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81041 | $20 | $35 | $125 | $363 | $683 |
Source: Ownwell