Wiley, Colorado Property Taxes
The median property tax rate in Wiley, CO is 0.82%, significantly lower than the national median of 0.99% but higher than the Colorado state median of 0.55%. With a median home value of $63,429, the typical annual property tax bill in Wiley amounts to $439, which is well below the national median of $2,690. Property taxes in Wiley are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Wiley'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 Wiley 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
Wiley, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$520
Ownwell’s Wiley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wiley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wiley 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 Wiley, Colorado
Property taxes in Wiley, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wiley is 0.82%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Wiley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wiley 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 Wiley's effective property tax rate to other counties in Colorado and the national median. For comparison, the zip code 81092 has the highest median property tax rate of 0.82%, while the same zip code also has the lowest median tax rate of 0.82%. Understanding how these cities compare with Wiley provides valuable insights into the varying tax landscape across Prowers County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wiley Tax Rate
0.82%
Average Prowers County Tax Rate
0.49%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wiley, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81092 | 0.42% | 0.48% | 0.82% | 0.82% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Wiley, Colorado
In Wiley, 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 Wiley, 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 Wiley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Wiley, the zip code 81092 has both the highest and lowest median tax bills at $439.
Average Wiley Assessed Value
$63,429
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 Wiley, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81092 | $9,850 | $26,828 | $63,429 | $108,050 | $155,054 |
Source: Ownwell
Property Tax Bills Across Wiley, Colorado
In Wiley, located in Prowers County, CO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Wiley is $63,429. The property tax rate then applies to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including local tax rates and any applicable exemptions or deductions. For homeowners in Wiley, the property tax bill can vary significantly. The 25th percentile tax bill is $183, while the 75th percentile tax bill is $626, and the 90th percentile tax bill reaches $946. These figures highlight the range of tax burdens homeowners might face. The highest and lowest median tax bills in Wiley both stand at $439, indicating a relatively consistent tax environment within the area. Understanding how these taxes are calculated helps homeowners anticipate their annual financial obligations and plan accordingly, ensuring they can manage their property-related expenses effectively.
Average Wiley Tax Bill
$439
Average Prowers County Tax Bill
$253
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Wiley, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81092 | $81 | $183 | $439 | $626 | $946 |
Source: Ownwell