Pagosa Springs, Colorado Property Taxes
The median property tax rate in Pagosa Springs, CO is 0.45%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Pagosa Springs at $303,225, the typical annual property tax bill is $1,433, well below the national median of $2,690. Property taxes in Pagosa Springs are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Pagosa Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Pagosa Springs 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
Pagosa Springs, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.45%
Estimate Property Tax Bill
$1,365
Ownwell’s Pagosa Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pagosa Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pagosa Springs 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 Pagosa Springs, Colorado
Property taxes in Pagosa Springs, Colorado, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Pagosa Springs is 0.45%, which is lower than the U.S. national median of 0.99%. Local government entities within Pagosa Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pagosa Springs 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 Pagosa Springs' effective property tax rate to other counties in Colorado and the national median. For comparison, the zip code 81147 has both the highest and lowest median property tax rate of 0.45%. Understanding how these cities compare with Pagosa Springs provides valuable insights into the varying tax landscape across Archuleta County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pagosa Springs Tax Rate
0.45%
Average Archuleta County Tax Rate
0.45%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pagosa Springs, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81147 | 0.36% | 0.43% | 0.45% | 0.45% | 0.52% |
Source: Ownwell
Property Tax Assessment Values Across Pagosa Springs, Colorado
In Pagosa Springs, 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 Archuleta 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 Pagosa Springs, 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 Pagosa Springs 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 $1,433, found in zip code 81147.
Property Tax Assessment Values Across Pagosa Springs, Colorado
Source: Ownwell
$128,260
$319,200
$510,140
Average Pagosa Springs Assessed Value
$303,225
Average Archuleta County Assessed Value
$301,050
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pagosa Springs, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81147 | $18,750 | $156,645 | $303,225 | $444,658 | $611,286 |
Source: Ownwell
Property Tax Bills Across Pagosa Springs, Colorado
In Pagosa Springs, located in Archuleta County, CO, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value and then applies an assessment rate to arrive at the taxable value. For homeowners in Pagosa Springs, property tax bills can vary significantly. For instance, the 25th percentile tax bill is $894, while the 75th percentile reaches $2009, and the 90th percentile climbs to $2803. These tax bills are influenced by several factors, including the property's location within the county, its market value, and any applicable exemptions or deductions. The median home price in the area is $303,225, and with the national median property tax rate at 0.99%, homeowners in Pagosa Springs might find their tax bills higher or lower depending on these variables. This variability in property tax bills can significantly impact homeowners, affecting their annual budgeting and long-term financial planning.
Average Pagosa Springs Tax Bill
$1,433
Average Archuleta County Tax Bill
$1,424
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Pagosa Springs, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81147 | $460 | $894 | $1,433 | $2,009 | $2,803 |
Source: Ownwell