Orchard, Colorado Property Taxes
The median property tax rate in Orchard, CO is 0.46%, significantly lower than both the national median of 0.99% and Colorado's state median of 0.55%. With the median home value in Orchard, the typical annual property tax bill is $904, which is well below the national median of $2,690. Property taxes in Orchard are calculated based on the assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Orchard'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 Orchard 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
Orchard, 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 Orchard Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Orchard with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Orchard 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 Orchard, Colorado
Property taxes in Orchard, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Orchard is 0.46%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Orchard set these rates annually, and they can vary significantly across different neighborhoods. Each year, Orchard 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 Orchard's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80649 zip code has both the highest and lowest median property tax rate of 0.46%. Understanding how these areas compare with Orchard provides valuable insights into the varying tax landscape across Morgan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Orchard Tax Rate
0.46%
Average Morgan County Tax Rate
0.57%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Orchard, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80649 | 0.35% | 0.46% | 0.46% | 0.52% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Orchard, Colorado
In Orchard, 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 Morgan 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 Orchard, 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. The median home price in Orchard is $198,350, with tax bills ranging significantly. For instance, the 25th percentile tax bill is $294, while the 75th percentile tax bill is $1,497, and the 90th percentile tax bill reaches up to $2,060. The zip code 80649 has both the highest and lowest median tax bill at $904. Being aware of these valuation processes in Orchard helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Orchard Assessed Value
$198,350
Average Morgan County Assessed Value
$211,955
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Orchard, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80649 | $24,764 | $78,090 | $198,350 | $309,850 | $379,568 |
Source: Ownwell
Property Tax Bills Across Orchard, Colorado
In Orchard, located in Morgan County, CO, property tax bills are calculated based on the assessed value of a property. The assessed value is derived from the market value of the home, which is then multiplied by the assessment rate set by the state. This assessed value is further multiplied by the local tax rate to determine the final tax bill. For instance, with a median home price of $198,350 in Orchard, homeowners can expect varying tax bills. The 25th percentile tax bill is around $294, while the 75th percentile tax bill reaches $1,497. At the 90th percentile, the tax bill can go up to $2,060. These figures highlight the range of property tax liabilities that homeowners in Orchard may face. Compared to the national median property tax rate of 0.99%, Orchard's property tax rates can significantly impact homeowners' finances, emphasizing the importance of understanding local tax calculations and their implications.
Average Orchard Tax Bill
$904
Average Morgan County Tax Bill
$1,191
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Orchard, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80649 | $84 | $294 | $904 | $1,497 | $2,060 |
Source: Ownwell