Coral Gables, Colorado Property Taxes
The median property tax rate in Coral Gables, CO is 0.69%, which is lower than the national median of 0.99% but higher than the Colorado state median of 0.55%. With a median home value of $282,905 in Coral Gables, the typical annual property tax bill amounts to $1,952, falling short of the national median of $2,690. Property taxes in Coral Gables are determined based on the tax assessed value, which is often less than the market value due to exemptions like the primary residence and agricultural exemptions. By understanding Coral Gables' property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve substantial annual savings. Whether you're residing in Coral Gables or investing in property within the city, gaining insight into the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Coral Gables, 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 Coral Gables Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Coral Gables with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Coral Gables 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 Coral Gables, Colorado
Property taxes in Coral Gables, Colorado, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Coral Gables is 0.69%, which is lower than the U.S. national median of 0.99%. Local government entities within Coral Gables set these rates annually, and they can vary significantly across different neighborhoods. Each year, Coral Gables 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 Coral Gables' effective property tax rate to other counties in Colorado and the national median. For comparison, the 33134 zip code has both the highest and lowest median property tax rate of 0.69%. Understanding how these areas compare with Coral Gables provides valuable insights into the varying tax landscape across Pueblo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Coral Gables Tax Rate
0.69%
Average Pueblo County Tax Rate
0.69%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coral Gables, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33134 | 0.69% | 0.69% | 0.69% | 0.69% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Coral Gables, Colorado
In Coral Gables, 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 Pueblo 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 Coral Gables, 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 Coral Gables helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $1,952, found in the 33134 zip code.
Average Coral Gables Assessed Value
$282,905
Average Pueblo County Assessed Value
$185,177
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Coral Gables, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33134 | $282,905 | $282,905 | $282,905 | $282,905 | $282,905 |
Source: Ownwell
Property Tax Bills Across Coral Gables, Colorado
In Coral Gables, Pueblo County, CO, property tax bills are calculated based on the assessed value of a home. The local assessor determines this value by evaluating the property's market value and then applying an assessment ratio. For Coral Gables, the median home price is $282,905. Once the assessed value is established, the property tax rate, which is specific to the county, is applied to compute the tax bill. Factors influencing the tax bill include the property's location, market conditions, and any applicable exemptions or deductions. In Coral Gables, the tax bill for most homeowners falls around $1,952, which is consistent across various percentiles, indicating a relatively stable tax environment. This tax bill directly impacts homeowners by contributing to local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Coral Gables residents experience a tax rate that aligns closely with national averages, providing a balanced fiscal environment for property owners.
Average Coral Gables Tax Bill
$1,952
Average Pueblo County Tax Bill
$1,150
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Coral Gables, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33134 | $1,952 | $1,952 | $1,952 | $1,952 | $1,952 |
Source: Ownwell