Hotchkiss, Colorado Property Taxes
The median property tax rate in Hotchkiss, CO is 0.45%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With a median home value of $187,954 in Hotchkiss, the typical annual property tax bill amounts to $959, which is well below the national median of $2,690. Property taxes in Hotchkiss are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Hotchkiss's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Hotchkiss or another part of Delta County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hotchkiss, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.45%
Estimate Property Tax Bill
$846
Ownwell’s Hotchkiss Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hotchkiss with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hotchkiss 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 Hotchkiss, Colorado
Property taxes in Hotchkiss, Colorado, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Hotchkiss is 0.45%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Hotchkiss set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hotchkiss 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 Hotchkiss's effective property tax rate to other counties in Colorado and the national median. For comparison, the zip code 81419 has both the highest and lowest median property tax rate of 0.45%. Understanding how these areas compare with Hotchkiss provides valuable insights into the varying tax landscape across Delta County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hotchkiss Tax Rate
0.45%
Average Delta County Tax Rate
0.45%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hotchkiss, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81419 | 0.30% | 0.43% | 0.45% | 0.52% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Hotchkiss, Colorado
In Hotchkiss, 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 Delta 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 Hotchkiss, 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 Hotchkiss helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 81419 has the highest and lowest median tax bill, both at $959.
Average Hotchkiss Assessed Value
$187,954
Average Delta County Assessed Value
$200,311
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hotchkiss, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81419 | $9,940 | $103,396 | $187,954 | $290,807 | $415,695 |
Source: Ownwell
Property Tax Bills Across Hotchkiss, Colorado
In Hotchkiss, Delta County, CO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual property tax bill. Several factors influence this calculation, including the home's market value, local tax rates, and any applicable exemptions or abatements. For instance, with a median home price of $187,954, homeowners can expect their tax bills to vary significantly. The 25th percentile tax bill is around $612, while the 75th percentile reaches $1,423. At the higher end, the 90th percentile tax bill can be as much as $2,034. These figures indicate a broad range of potential tax liabilities, reflecting differences in property values and individual circumstances. The highest and lowest median tax bills in the area are both $959, highlighting some consistency in tax assessments within certain parameters. Understanding these factors helps homeowners better anticipate their financial responsibilities.
Average Hotchkiss Tax Bill
$959
Average Delta County Tax Bill
$931
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Hotchkiss, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81419 | $343 | $612 | $959 | $1,423 | $2,034 |
Source: Ownwell