Stratton, Colorado Property Taxes
The median property tax rate in Stratton, CO is 0.74%, which is lower than the national median of 0.99% but higher than the Colorado state median of 0.55%. With a median home value of $105,878 in Stratton, the typical annual property tax bill amounts to $791, significantly less than the national median of $2,690. Property taxes in Stratton are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Stratton'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 Stratton or another part of Kit Carson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Stratton, 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 Stratton Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Stratton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stratton to project your property tax bill. This invaluable tool helps you understand potential tax liabilities and plan accordingly. For those interested in seeing trends on a more localized level, additional neighborhood-specific information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Stratton, Colorado
Property taxes in Stratton, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stratton is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Stratton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stratton 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 Stratton's effective property tax rate to other counties in Colorado and the national median. For comparison, the zip code 80836 has the highest median property tax rate of 0.74%, while the same zip code also has the lowest median tax rate of 0.74%. Understanding how these areas compare with Stratton provides valuable insights into the varying tax landscape across Kit Carson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stratton Tax Rate
0.74%
Average Kit Carson County Tax Rate
0.57%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stratton, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80836 | 0.54% | 0.69% | 0.74% | 0.74% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Stratton, Colorado
In Stratton, 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 Kit Carson 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 Stratton, 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 Stratton 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 both stand at $791, specifically in the 80836 zip code.
Average Stratton Assessed Value
$105,878
Average Kit Carson County Assessed Value
$118,410
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stratton, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80836 | $13,223 | $51,676 | $105,878 | $176,643 | $292,379 |
Source: Ownwell
Property Tax Bills Across Stratton, Colorado
In Stratton, located in Kit Carson County, CO, property tax bills are calculated based on the assessed value of a home, with the median home price being $105,878. The tax bill is determined by multiplying the assessed value by the local tax rate. Factors influencing the tax bill include the property's market value, any exemptions for which the homeowner qualifies, and the specific tax rate set by local taxing authorities. For example, homeowners in the 25th percentile pay around $384 annually, while those in the 75th percentile face a tax bill of approximately $1,351. The 90th percentile sees taxes as high as $2,203. Compared to the national median property tax rate of 0.99%, Stratton's tax rates reflect a localized approach to property taxation. This system impacts homeowners by directly influencing their annual financial obligations, potentially affecting their budget and long-term financial planning. Understanding these factors helps homeowners anticipate their tax responsibilities and explore potential exemptions or appeals.
Average Stratton Tax Bill
$791
Average Kit Carson County Tax Bill
$754
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Stratton, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80836 | $87 | $384 | $791 | $1,351 | $2,203 |
Source: Ownwell