Trinidad, Colorado Property Taxes
The median property tax rate in Trinidad, CO is 0.36%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With a median home value of $101,302 in Trinidad, the typical annual property tax bill is $304, well below the national median of $2,690. Property taxes in Trinidad are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Trinidad'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 Trinidad or another part of Las Animas County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Trinidad, 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 Trinidad Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Trinidad with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Trinidad 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 Trinidad, Colorado
Property taxes in Trinidad, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Trinidad is 0.36%, significantly lower than both the Colorado state median of 0.51% and the U.S. national median of 0.99%. Local government entities within Trinidad set these rates annually, and they can vary significantly across different neighborhoods. Each year, Trinidad 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 Trinidad's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80439 zip code has the highest median property tax rate of 0.77%, while the 81521 zip code has the lowest median tax rate of 0.21%. Understanding how these cities compare with Trinidad provides valuable insights into the varying tax landscape across Las Animas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Trinidad Tax Rate
0.36%
Average Las Animas County Tax Rate
0.33%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Trinidad, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81082 | 0.18% | 0.24% | 0.36% | 0.36% | 0.38% |
Source: Ownwell
Property Tax Assessment Values Across Trinidad, Colorado
In Trinidad, 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 Las Animas 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 Trinidad, 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 Trinidad helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Trinidad is $304, found in the 81082 zip code, which is also the lowest median tax bill, highlighting a consistent tax environment in the area.
Average Trinidad Assessed Value
$101,302
Average Las Animas County Assessed Value
$103,330
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Trinidad, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81082 | $34,319 | $64,594 | $101,302 | $155,190 | $232,141 |
Source: Ownwell
Property Tax Bills Across Trinidad, Colorado
In Trinidad, located in Las Animas County, Colorado, property tax bills are calculated based on the assessed value of a home. The assessed value is derived from the market value, which is determined by the county assessor. For homes in Trinidad, the median home price is $101,302. The property tax rate for the area is then applied to this assessed value to determine the tax bill. Various factors influence the final tax bill, including the specific tax rate set by local authorities and any applicable exemptions or deductions. In Trinidad, property tax bills can vary significantly. At the 25th percentile, homeowners pay around $177, while at the 75th percentile, the tax bill rises to about $488. For those in the 90th percentile, the tax bill can reach up to $746. These property taxes are crucial for funding local services such as schools, infrastructure, and emergency services. Homeowners in Trinidad should be aware of how these taxes are calculated and the potential impact on their finances.
Average Trinidad Tax Bill
$304
Average Las Animas County Tax Bill
$300
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Trinidad, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81082 | $98 | $177 | $304 | $488 | $746 |
Source: Ownwell