Bedrock, Colorado Property Taxes
The median property tax rate in Bedrock, CO is 0.48%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Bedrock, the typical annual property tax bill is $345, well below the national median of $2,690. Property taxes in Bedrock 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 Bedrock'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 Bedrock 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
Bedrock, 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 Bedrock Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bedrock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bedrock 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 Bedrock, Colorado
Property taxes in Bedrock, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bedrock is 0.48%, significantly lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Bedrock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bedrock 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 Bedrock's effective property tax rate to other counties in Colorado and the national median. For comparison, the 81411 zip code has the highest median property tax rate of 0.48%, while the same zip code also has the lowest median tax rate of 0.48%. Understanding how these cities compare with Bedrock provides valuable insights into the varying tax landscape across Montrose County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bedrock Tax Rate
0.48%
Average Montrose County Tax Rate
0.49%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bedrock, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81411 | 0.47% | 0.47% | 0.48% | 0.66% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Bedrock, Colorado
In Bedrock, 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 Montrose 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. Assessment notices in Bedrock 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 Bedrock helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Bedrock, the zip code with the highest median tax bill is 81411, with a tax bill of $345. Similarly, the lowest median tax bill is also $345 in the same zip code. This knowledge can empower residents to take control of their property tax obligations and ensure they are not overpaying.
Average Bedrock Assessed Value
$80,280
Average Montrose County Assessed Value
$398,340
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bedrock, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81411 | $24,250 | $36,150 | $80,280 | $204,630 | $296,308 |
Source: Ownwell
Property Tax Bills Across Bedrock, Colorado
In Bedrock, CO, property tax bills are calculated based on the assessed value of a home, which is determined by the Montrose County Assessor's Office. The assessed value is a percentage of the home's market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and improvements play a significant role in the assessed value. For instance, the median home price in Bedrock is $80,280, and the property tax rate in Montrose County is applied to this value to determine the tax bill. Homeowners in the 25th percentile pay around $173 annually, while those in the 75th percentile face a tax bill of $1,323. At the higher end, the 90th percentile sees tax bills reaching up to $2,221. Comparing these figures to the national median property tax rate of 0.99%, Bedrock's rates can be seen as relatively moderate, impacting homeowners' financial planning and budgeting.
Average Bedrock Tax Bill
$345
Average Montrose County Tax Bill
$1,943
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Bedrock, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81411 | $116 | $173 | $345 | $1,323 | $2,221 |
Source: Ownwell