Como, Colorado Property Taxes
The median property tax rate in COMO, CO is 0.45%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in COMO, the typical annual property tax bill reaches $1,273, well below the national median of $2,690. Property taxes in COMO 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 COMO'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 COMO 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
Como, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.45%
Estimate Property Tax Bill
$1,230
Ownwell’s COMO Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in COMO with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in COMO 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 Como, Colorado
Property taxes in Como, Colorado, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Como is 0.45%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Como set these rates annually, and they can vary significantly across different neighborhoods. Each year, Como estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all assessed 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 Como's effective property tax rate to other areas in Colorado and the national median. For comparison, the 80456 zip code has the highest median property tax rate of 0.50%, while the 80432 zip code has the lowest median tax rate of 0.45%. Understanding how these areas compare with Como 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 Como Tax Rate
0.45%
Average Park County Tax Rate
0.44%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Como, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80432 | 0.45% | 0.45% | 0.45% | 0.50% | 0.50% |
| 80456 | 0.45% | 0.45% | 0.50% | 0.50% | 0.50% |
Source: Ownwell
Property Tax Assessment Values Across Como, Colorado
In COMO, 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 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 COMO, 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 COMO helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Park County is $1,275 in ZIP code 80432, while the lowest is $1,100 in ZIP code 80456.
Average Como Assessed Value
$273,316
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 Como, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80432 | $114,767 | $195,338 | $274,569 | $342,003 | $394,693 |
| 80456 | $40,222 | $95,949 | $231,594 | $321,096 | $357,392 |
Source: Ownwell
Property Tax Bills Across Como, Colorado
In COMO, Park County, CO, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. For a median home price of $273,316, homeowners can expect their tax bill to vary significantly. The 25th percentile tax bill is around $883, while the 75th percentile reaches up to $1,623, and the 90th percentile can go as high as $1,899. These figures indicate that property taxes can vary widely depending on the specific characteristics and assessed value of the property. Several factors influence the tax bill, including property size, location, and any improvements made to the property. Additionally, local tax rates and levies play a crucial role. For example, the highest median tax bill in the county is $1,275 in zip code 80432, while the lowest is $1,100 in zip code 80456. Homeowners should be aware of these variations as they can significantly impact annual expenses. Compared to the national median property tax rate of 0.99%, COMO's rates reflect local economic conditions and public service funding needs.
Average Como Tax Bill
$1,273
Average Park County Tax Bill
$1,504
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Como, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80432 | $516 | $892 | $1,275 | $1,626 | $1,905 |
| 80456 | $225 | $480 | $1,100 | $1,530 | $1,788 |
Source: Ownwell