Hooper, Colorado Property Taxes
The median property tax rate in Hooper, CO is 0.48%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With a median home value of $106,566 in Hooper, the typical annual property tax bill amounts to $509, which is well below the national median of $2,690. Property taxes in Hooper are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Hooper's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Hooper 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
Hooper, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.48%
Estimate Property Tax Bill
$512
Ownwell’s Hooper Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hooper with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hooper 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 Hooper, Colorado
Property taxes in Hooper, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hooper is 0.48%, which is lower than the U.S. national median of 0.99%. Local government entities within Hooper set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hooper 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 Hooper's effective property tax rate to other counties in Colorado and the national median. For comparison, the 81136 zip code has both the highest and lowest median property tax rate of 0.48%. Understanding how these areas compare with Hooper provides valuable insights into the varying tax landscape across Saguache County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hooper Tax Rate
0.48%
Average Saguache County Tax Rate
0.66%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hooper, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81136 | 0.45% | 0.46% | 0.48% | 0.49% | 0.49% |
Source: Ownwell
Property Tax Assessment Values Across Hooper, Colorado
In Hooper, 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 Saguache 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 Hooper, 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 Hooper helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills in Hooper is 81136, with a median tax bill of $509.
Average Hooper Assessed Value
$106,566
Average Saguache County Assessed Value
$49,043
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hooper, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81136 | $61,892 | $78,645 | $106,566 | $153,642 | $181,888 |
Source: Ownwell
Property Tax Bills Across Hooper, Colorado
Property tax bills in Hooper, located in Saguache County, Colorado, are calculated based on the assessed value of a property rather than its market value. The process begins with the county assessor determining the assessed value, which is a percentage of the property's market value. Various factors, such as property size, location, and improvements, are taken into account during this assessment. Once the assessed value is established, it's multiplied by the local tax rate to determine the tax bill. In Hooper, the tax bills can vary significantly. For example, at the 25th percentile, homeowners might pay around $367, while at the 75th percentile, the tax bill can go up to $749. For those in the 90th percentile, the tax bill can reach $893. Comparatively, the national median property tax rate stands at 0.99%, and Hooper's tax bills reflect a range of economic impacts on homeowners. Understanding these elements helps homeowners anticipate their annual property tax obligations and budget accordingly.
Average Hooper Tax Bill
$509
Average Saguache County Tax Bill
$305
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Hooper, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81136 | $281 | $367 | $509 | $749 | $893 |
Source: Ownwell