Salida, Colorado Property Taxes
The median property tax rate in Salida, CO is 0.33%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Salida at $438,395, the typical annual property tax bill is approximately $1,479, well below the national median of $2,690. Property taxes in Salida 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 Salida'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 Salida or another part of Chaffee County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Salida, 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 SALIDA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SALIDA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SALIDA 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 Salida, Colorado
Property taxes in Salida, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Salida is 0.33%, significantly lower than both the Colorado state median of 0.51% and the U.S. national median of 0.99%. Local government entities within Salida set these rates annually, and they can vary significantly across different neighborhoods. Each year, Salida 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 Salida's effective property tax rate to other counties in Colorado and the national median. For comparison, the highest median property tax rate in Colorado is found in Broomfield County at 0.66%, while the lowest median tax rate is in Costilla County at 0.21%. Understanding how these cities compare with Salida provides valuable insights into the varying tax landscape across Chaffee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Salida Tax Rate
0.33%
Average Chaffee County Tax Rate
0.36%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Salida, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81201 | 0.27% | 0.33% | 0.33% | 0.36% | 0.36% |
Source: Ownwell
Property Tax Assessment Values Across Salida, Colorado
In Salida, 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 Chaffee 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 Salida, 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. For instance, the median home price in Salida is $438,395, with tax bills ranging from $1,142 at the 25th percentile to $2,645 at the 90th percentile. Notably, the zip code 81201 has both the highest and lowest median tax bills at $1,479. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Salida Assessed Value
$438,395
Average Chaffee County Assessed Value
$418,760
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Salida, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81201 | $88,944 | $339,678 | $438,395 | $569,056 | $747,123 |
Source: Ownwell
Property Tax Bills Across Salida, Colorado
In Salida, property tax bills are calculated based on the assessed value of a home, which is derived from the market value. The county assessor determines the market value, and then an assessment rate is applied to calculate the assessed value. This assessed value is then multiplied by the local tax rate to determine the property tax bill. Factors such as property location, home size, and market conditions influence the assessed value. For instance, in Chaffee County, where Salida is located, the median home price is $438,395. Property tax bills in this area range significantly, with the 25th percentile at $1,142 and the 75th percentile at $1,973. The highest median tax bill in the 81201 zip code is $1,479, which is below the national median property tax rate of 0.99%. These taxes fund essential public services like schools, infrastructure, and emergency services, directly impacting homeowners. Understanding how property taxes are calculated can help homeowners anticipate their financial responsibilities and plan accordingly.
Average Salida Tax Bill
$1,479
Average Chaffee County Tax Bill
$1,497
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Salida, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81201 | $692 | $1,142 | $1,479 | $1,973 | $2,645 |
Source: Ownwell