Two Buttes, Colorado Property Taxes
The median property tax rate in Two Buttes, CO is 0.73%, which is below the national median of 0.99% but higher than the Colorado state median of 0.55%. With a median home value of $32,637 in Two Buttes, the typical annual property tax bill amounts to $240, significantly lower than the national median of $2,690. Property taxes in Two Buttes are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Two Buttes' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Two Buttes or another part of Prowers County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Two Buttes, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$238
Ownwell’s Two Buttes Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Two Buttes with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Two Buttes 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 Two Buttes, Colorado
Property taxes in Two Buttes, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Two Buttes is 0.73%, lower than the U.S. national median of 0.99%. Local government entities within Two Buttes set these rates annually, and they can vary significantly across different neighborhoods. Each year, Two Buttes 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 Two Buttes' effective property tax rate to other counties in Colorado and the national median. For comparison, the 81084 zip code has the highest median property tax rate of 0.73%, while the same zip code also has the lowest median tax rate of 0.73%. Understanding how these cities compare with Two Buttes provides valuable insights into the varying tax landscape across Prowers County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Two Buttes Tax Rate
0.73%
Average Prowers County Tax Rate
0.49%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Two Buttes, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81084 | 0.73% | 0.73% | 0.73% | 0.73% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Two Buttes, Colorado
In Two Buttes, 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 Prowers 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 Two Buttes, 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 Two Buttes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Two Buttes, the highest and lowest median tax bills are both $240, found in zip code 81084.
Average Two Buttes Assessed Value
$32,637
Average Prowers County Assessed Value
$51,952
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Two Buttes, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81084 | $32,637 | $32,637 | $32,637 | $32,637 | $32,637 |
Source: Ownwell
Property Tax Bills Across Two Buttes, Colorado
In Two Buttes, located in Prowers County, CO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Two Buttes is $32,637. The property tax rate for this area is relatively low compared to the national median property tax rate of 0.99%. The annual property tax bill for homeowners in Two Buttes typically falls around $240, regardless of the specific percentile, indicating a consistent tax rate across different property values. This consistency in tax bills simplifies budgeting for homeowners and provides a predictable financial obligation. Factors such as local government budgets, public school funding, and community services influence the tax rate. For homeowners, understanding these factors and how their property is assessed can help them anticipate their annual tax liabilities and plan their finances accordingly.
Average Two Buttes Tax Bill
$240
Average Prowers County Tax Bill
$253
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Two Buttes, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81084 | $240 | $240 | $240 | $240 | $240 |
Source: Ownwell