Phippsburg, Colorado Property Taxes
The median property tax rate in Phippsburg, CO is 0.53%, lower than both the national median of 0.99% and the Colorado state median of 0.55%. With a median home value of $222,100 in Phippsburg, the typical annual property tax bill is $1,203, significantly below the national median of $2,690. Property taxes in Phippsburg are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Phippsburg'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 Phippsburg or another part of Routt County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Phippsburg, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.53%
Estimate Property Tax Bill
$1,177
Ownwell’s Phippsburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Phippsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Phippsburg 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 Phippsburg, Colorado
Property taxes in Phippsburg, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Phippsburg is 0.53%, lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Phippsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Phippsburg 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 Phippsburg's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80469 zip code has the highest median property tax rate of 0.53%, while the same zip code also has the lowest median tax rate of 0.53%. Understanding how these cities compare with Phippsburg provides valuable insights into the varying tax landscape across Routt County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Phippsburg Tax Rate
0.53%
Average Routt County Tax Rate
0.38%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Phippsburg, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80469 | 0.35% | 0.53% | 0.53% | 0.53% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Phippsburg, Colorado
In Phippsburg, 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 Routt 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 Phippsburg, 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 Phippsburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Phippsburg is $222,100, with tax bills ranging from $797 at the 25th percentile to $2,463 at the 90th percentile. Notably, the highest and lowest median tax bills are both $1,203, found in the 80469 zip code.
Average Phippsburg Assessed Value
$222,100
Average Routt County Assessed Value
$507,780
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Phippsburg, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80469 | $93,574 | $150,722 | $222,100 | $303,878 | $394,546 |
Source: Ownwell
Property Tax Bills Across Phippsburg, Colorado
In Phippsburg, CO, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence this calculation, including the property's location, size, and market conditions. For example, in Routt County, where Phippsburg is located, the median home price is $222,100. Homeowners in Phippsburg experience a range of tax bills. At the 25th percentile, tax bills are around $797, while at the 75th percentile, they rise to approximately $1,725. The highest tax bills, found at the 90th percentile, can reach up to $2,463. These variations reflect differences in property values and the specific characteristics of each home. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding how Phippsburg's rates align with broader trends. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Phippsburg Tax Bill
$1,203
Average Routt County Tax Bill
$2,259
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Phippsburg, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80469 | $441 | $797 | $1,203 | $1,725 | $2,463 |
Source: Ownwell