Rye, Colorado Property Taxes
The median property tax rate in Rye, CO is 0.52%, which is lower than both the national median of 0.99% and the Colorado state median of 0.55%. With a median home value in Rye of $118,011, the typical annual property tax bill amounts to $546, significantly below the national median of $2,690. Property taxes in Rye 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 Rye'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 Rye 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
Rye, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.52%
Estimate Property Tax Bill
$614
Ownwell’s Rye Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rye with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rye 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 Rye, Colorado
Property taxes in Rye, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rye is 0.52%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Rye set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rye 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 Rye's effective property tax rate to other counties in Colorado and the national median. For comparison, the 81069 zip code has both the highest and lowest median property tax rate of 0.52%. Understanding how these cities compare with Rye 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 Rye Tax Rate
0.52%
Average Huerfano County Tax Rate
0.60%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rye, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81069 | 0.26% | 0.39% | 0.52% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Rye, Colorado
In Rye, 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 Huerfano 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 Rye, 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 Rye helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Rye are both $546, found in zip code 81069.
Average Rye Assessed Value
$118,011
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 Rye, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81069 | $26,209 | $53,359 | $118,011 | $180,958 | $235,378 |
Source: Ownwell
Property Tax Bills Across Rye, Colorado
In Rye, Huerfano County, CO, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the property's market value, which is periodically evaluated by county assessors. Factors such as property size, location, and improvements can influence this market value. The local tax rate is then applied to the assessed value to calculate the tax bill. For homeowners in Rye, the median home price is $118,011. Property tax bills can vary significantly within the city. At the 25th percentile, homeowners might expect a tax bill around $310, while those at the 75th percentile could see bills as high as $886. The 90th percentile tax bill reaches up to $1,397. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax burdens. These tax bills fund essential services such as public schools, infrastructure, and emergency services, directly impacting the quality of life for residents.
Average Rye Tax Bill
$546
Average Huerfano County Tax Bill
$439
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Rye, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81069 | $110 | $310 | $546 | $886 | $1,397 |
Source: Ownwell