Kit Carson, Colorado Property Taxes
The median property tax rate in Kit Carson, CO is 0.55%, aligning with the Colorado state median but significantly lower than the national median of 0.99%. With a median home value of $42,673 in Kit Carson, the typical annual property tax bill amounts to $330, which is well below the national median of $2,690. Property taxes in Kit Carson are determined based on the assessed value, which is often lower than the market value due to exemptions like primary residence and agricultural exemptions. By understanding Kit Carson's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve considerable annual savings. Whether you're in the heart of Kit Carson or another part of the city, mastering the local property tax system can be highly beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Kit Carson, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$235
Ownwell’s Kit Carson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kit Carson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kit Carson 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 Kit Carson, Colorado
Property taxes in Kit Carson, Colorado, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kit Carson is 0.55%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Kit Carson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kit Carson 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 Kit Carson's effective property tax rate to other counties in Colorado and the national median. For comparison, the zip code 80825 has the highest median property tax rate of 0.55%, while the same zip code also has the lowest median tax rate of 0.55%. Understanding how these cities compare with Kit Carson provides valuable insights into the varying tax landscape across Cheyenne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kit Carson Tax Rate
0.55%
Average Cheyenne County Tax Rate
0.66%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kit Carson, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80825 | 0.54% | 0.55% | 0.55% | 0.82% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Kit Carson, Colorado
In Kit Carson, 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 Cheyenne County Appraisal District 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 Kit Carson, 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. The median home price is $42,673, with tax bills ranging from $159 at the 25th percentile to $1,110 at the 90th percentile. The highest and lowest median tax bills are both $330 in zip code 80825. 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 Kit Carson Assessed Value
$42,673
Average Cheyenne County Assessed Value
$55,241
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kit Carson, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80825 | $5,656 | $14,897 | $42,673 | $88,254 | $135,101 |
Source: Ownwell
Property Tax Bills Across Kit Carson, Colorado
Property tax bills in Kit Carson, located in Cheyenne County, Colorado, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the market value of the property and applies an assessment rate to it. In Kit Carson, like the rest of Colorado, the assessment rate is set by the state and is currently 7.15%. This means that a property with a market value of $42,673 would have an assessed value of approximately $3,051. The local tax rate is then applied to this assessed value to determine the annual property tax bill. Homeowners in Kit Carson can expect tax bills that vary significantly. For instance, the 25th percentile tax bill is around $159, while the 90th percentile reaches up to $1,110. These variations can impact homeowners differently, depending on their property's assessed value and the specific tax rate applied. Compared to the national median property tax rate of 0.99%, Kit Carson's rates and resulting bills provide a unique financial landscape for its residents.
Average Kit Carson Tax Bill
$330
Average Cheyenne County Tax Bill
$407
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Kit Carson, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80825 | $56 | $159 | $330 | $614 | $1,110 |
Source: Ownwell