Red Cliff, Colorado Property Taxes
The median property tax rate in Red Cliff, CO is 0.61%, slightly higher than the state median of 0.55% but lower than the national median of 0.99%. With a median home value of $367,350 in Red Cliff, the typical annual property tax bill is around $2,228, which is below the national median of $2,690. Property taxes in Red Cliff are calculated based on the tax assessed value, often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Red Cliff'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 Red Cliff 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
Red Cliff, 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 Red Cliff Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Red Cliff with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Red Cliff 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 Red Cliff, Colorado
Property taxes in Red Cliff, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Red Cliff is 0.61%, lower than the U.S. national median of 0.99%. Local government entities within Red Cliff set these rates annually, and they can vary significantly across different neighborhoods. Each year, Red Cliff 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 Red Cliff's effective property tax rate to other counties in Colorado and the national median. For comparison, the zip code 81649 has both the highest and lowest median property tax rate of 0.61%. Understanding how these cities compare with Red Cliff provides valuable insights into the varying tax landscape across Eagle County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Red Cliff Tax Rate
0.61%
Average Eagle County Tax Rate
0.44%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Red Cliff, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81649 | 0.51% | 0.61% | 0.61% | 0.61% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Red Cliff, Colorado
In Red Cliff, 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 Eagle 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 Red Cliff, 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 Red Cliff helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Red Cliff is $367,350, with the 25th percentile tax bill at $1,288 and the 75th percentile at $2,925. Interestingly, the highest and lowest median tax bills are both $2,228, found in the zip code 81649.
Average Red Cliff Assessed Value
$367,350
Average Eagle County Assessed Value
$678,345
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Red Cliff, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81649 | $102,662 | $227,380 | $367,350 | $480,280 | $605,956 |
Source: Ownwell
Property Tax Bills Across Red Cliff, Colorado
Property tax bills in Red Cliff, Eagle County, CO, are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Red Cliff stands at $367,350. Homeowners’ tax bills are influenced by this assessed value and the local tax rate. In Red Cliff, the property tax rate is relatively lower compared to the national median of 0.99%. For example, tax bills in the 25th percentile are around $1,288, while those in the 75th percentile reach $2,925. At the higher end, the 90th percentile tax bill is approximately $3,609. These figures indicate that homeowners in Red Cliff can expect a range of property tax bills depending on their property's assessed value. The highest and lowest median tax bills in the area are both $2,228, highlighting a consistent tax environment within the ZIP code 81649. This ensures that property taxes are predictable, helping homeowners plan their finances more effectively.
Average Red Cliff Tax Bill
$2,228
Average Eagle County Tax Bill
$3,388
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Red Cliff, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81649 | $582 | $1,288 | $2,228 | $2,925 | $3,609 |
Source: Ownwell