Loma, Colorado Property Taxes
The median property tax rate in Loma, CO is 0.49%, considerably lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Loma at $246,500, the typical annual property tax bill reaches $1,154, significantly below the national median of $2,690. Property taxes in Loma are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Loma'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 Loma 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
Loma, 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 Loma Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Loma with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Loma 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 Loma, Colorado
Property taxes in Loma, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Loma is 0.49%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Loma set these rates annually, and they can vary significantly across different neighborhoods. Each year, Loma 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 Loma's effective property tax rate to other areas in Colorado and the national median. For comparison, the 81524 zip code has the highest median property tax rate of 0.49%, while the same zip code also has the lowest median tax rate of 0.49%. Understanding how these areas compare with Loma provides valuable insights into the varying tax landscape across Mesa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Loma Tax Rate
0.49%
Average Mesa County Tax Rate
0.50%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Loma, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81524 | 0.25% | 0.48% | 0.49% | 0.49% | 0.49% |
Source: Ownwell
Property Tax Assessment Values Across Loma, Colorado
In Loma, 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 Mesa 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 Loma, 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 Loma helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Loma is $246,500, with the highest median tax bill recorded in zip code 81524 at $1,154.
Average Loma Assessed Value
$246,500
Average Mesa County Assessed Value
$241,920
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Loma, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81524 | $27,184 | $109,660 | $246,500 | $390,770 | $487,800 |
Source: Ownwell
Property Tax Bills Across Loma, Colorado
In Loma, located in Mesa County, CO, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Loma is $246,500. Property tax rates in this area are influenced by local government budgets and the needs of the community, with the median property tax rate in the U.S. being 0.99%. Homeowners in Loma can expect their tax bills to vary significantly. For instance, the 25th percentile tax bill is $466, while the 75th percentile tax bill reaches $1,852. At the higher end, the 90th percentile tax bill can go up to $2,308. The highest median tax bill in Mesa County is $1,154, recorded in the 81524 zip code. These variations depend on factors such as property location, improvements made, and local tax levies. Understanding how these elements influence property tax bills helps homeowners budget appropriately and anticipate future expenses, ensuring they are prepared for the financial responsibilities of property ownership.
Average Loma Tax Bill
$1,154
Average Mesa County Tax Bill
$1,213
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Loma, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81524 | $129 | $466 | $1,154 | $1,852 | $2,308 |
Source: Ownwell