Idalia, Colorado Property Taxes
The median property tax rate in Idalia, CO is 0.56%, slightly higher than the Colorado state median of 0.55% but lower than the national median of 0.99%. With a median home value of $87,320, the typical annual property tax bill in Idalia amounts to $702, which is significantly below the national median of $2,690. Property taxes in Idalia are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Idalia'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 Idalia or another part of Yuma County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Idalia, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$489
Ownwell’s Idalia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Idalia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Idalia 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 Idalia, Colorado
Property taxes in Idalia, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Idalia is 0.56%, lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Idalia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Idalia 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 Idalia's effective property tax rate to other areas in Colorado and the national median. For comparison, the 80735 zip code has both the highest and lowest median property tax rate of 0.56%. Understanding how these areas compare with Idalia provides valuable insights into the varying tax landscape across Yuma County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Idalia Tax Rate
0.56%
Average Yuma County Tax Rate
0.67%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Idalia, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80735 | 0.41% | 0.50% | 0.56% | 1.09% | 2.09% |
Source: Ownwell
Property Tax Assessment Values Across Idalia, Colorado
In Idalia, 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 Yuma 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 Idalia, 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 Idalia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $702, found in the 80735 zip code.
Average Idalia Assessed Value
$87,320
Average Yuma County Assessed Value
$112,640
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Idalia, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80735 | $8,608 | $30,230 | $87,320 | $190,780 | $254,090 |
Source: Ownwell
Property Tax Bills Across Idalia, Colorado
In Idalia, CO, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is a percentage of the property's market value. For instance, with a median home price of $87,320, the assessed value serves as the basis for calculating the tax bill. Various factors such as property location, size, and condition can influence this valuation. Once the assessed value is established, local tax rates are applied to determine the final tax bill. These rates can vary across different areas within Yuma County. Homeowners in Idalia can expect their tax bills to fall within a range, with the 25th percentile at $281 and the 75th percentile at $1,478. The highest median tax bill in the area is $702, which is significantly lower than the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Idalia Tax Bill
$702
Average Yuma County Tax Bill
$763
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Idalia, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80735 | $52 | $281 | $702 | $1,478 | $2,986 |
Source: Ownwell