Alma, Colorado Property Taxes
The median property tax rate in Alma, CO is 0.44%, considerably lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Alma at $366,339, the typical annual property tax bill reaches $1,684, which is below the national median of $2,690. Property taxes in Alma 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 Alma'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 Alma or another part of Park County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Alma, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.44%
Estimate Property Tax Bill
$1,612
Ownwell’s Alma Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Alma with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Alma 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 Alma, Colorado
Property taxes in Alma, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alma is 0.44%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Alma set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alma 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 Alma's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80421 zip code has the highest median property tax rate of 0.56%, while the 80420 zip code has the lowest median tax rate of 0.44%. Understanding how these areas compare with Alma provides valuable insights into the varying tax landscape across Park County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alma Tax Rate
0.44%
Average Park County Tax Rate
0.44%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alma, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80420 | 0.44% | 0.44% | 0.44% | 0.44% | 0.56% |
| 80421 | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Alma, Colorado
In Alma, 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 Park 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 Alma, 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. In Alma, the zip code with the highest median tax bill is 80421 at $1,695, while the lowest is 80420 at $1,684. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Alma Assessed Value
$366,339
Average Park County Assessed Value
$344,823
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alma, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80420 | $193,679 | $268,185 | $366,613 | $460,294 | $578,797 |
| 80421 | $303,007 | $303,007 | $303,007 | $303,007 | $303,007 |
Source: Ownwell
Property Tax Bills Across Alma, Colorado
In Alma, located in Park County, CO, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in Alma is $366,339, and property taxes are applied to this assessed value. Tax rates and assessed values are key factors in determining the final tax bill. For instance, homeowners in Alma typically see tax bills ranging from $1,245 at the 25th percentile to $2,097 at the 75th percentile, with the 90th percentile reaching up to $2,596. These figures can vary significantly, with the highest median tax bill in a nearby zip code being $1,695 and the lowest at $1,684. Compared to the national median property tax rate of 0.99%, Alma's tax bills reflect the region's specific property values and tax rates. Understanding these elements helps homeowners anticipate their annual tax obligations and manage their finances accordingly.
Average Alma Tax Bill
$1,684
Average Park County Tax Bill
$1,504
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Alma, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80420 | $891 | $1,245 | $1,684 | $2,097 | $2,597 |
| 80421 | $1,695 | $1,695 | $1,695 | $1,695 | $1,695 |
Source: Ownwell