La Veta, Colorado Property Taxes
The median property tax rate in La Veta, CO is 0.61%, slightly higher than the Colorado state median of 0.55% but lower than the national median of 0.99%. With a median home value of $146,026, the typical annual property tax bill in La Veta reaches $840, well below the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding La Veta'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 La Veta or another part of Huerfano County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
La Veta, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$891
Ownwell’s La Veta Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in La Veta with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in La Veta 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 La Veta, Colorado
Property taxes in La Veta, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in La Veta is 0.61%, lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within La Veta set these rates annually, and they can vary significantly across different neighborhoods. Each year, La Veta 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 La Veta's effective property tax rate to other counties in Colorado and the national median. For comparison, the 81055 zip code has the highest median property tax rate of 0.61%, while the same zip code also has the lowest median tax rate of 0.61%. Understanding how these rates compare with La Veta provides valuable insights into the varying tax landscape across Huerfano County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average La Veta Tax Rate
0.61%
Average Huerfano County Tax Rate
0.60%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across La Veta, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81055 | 0.39% | 0.58% | 0.61% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across La Veta, Colorado
In La Veta, 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 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 La Veta, 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 La Veta helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $840, with zip code 81055 representing this value.
Average La Veta Assessed Value
$146,026
Average Huerfano County Assessed Value
$83,356
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across La Veta, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81055 | $26,337 | $78,566 | $146,026 | $237,636 | $359,396 |
Source: Ownwell
Property Tax Bills Across La Veta, Colorado
In La Veta, located in Huerfano County, CO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in La Veta is $146,026. The tax rate applied to this assessed value determines the property tax bill. Factors such as the property's location, improvements, and market trends influence its assessed value. Homeowners in La Veta can expect their property tax bills to vary. For example, the 25th percentile tax bill is approximately $408, while the 75th percentile reaches around $1,457. At the 90th percentile, homeowners might see tax bills as high as $2,167. These figures illustrate the range of property tax liabilities within the community. Compared to the national median property tax rate of 0.99%, La Veta's property tax bills reflect local economic conditions and property values. Understanding these factors is crucial for homeowners to anticipate their annual tax obligations and manage their finances effectively.
Average La Veta Tax Bill
$840
Average Huerfano County Tax Bill
$439
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across La Veta, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81055 | $159 | $408 | $840 | $1,457 | $2,167 |
Source: Ownwell