Pritchett, Colorado Property Taxes
The median property tax rate in Pritchett, CO is 0.68%, 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 $23,080 in Pritchett, the typical annual property tax bill is $156, significantly below the national median of $2,690. Property taxes in Pritchett are calculated based on the assessed value, which usually falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Pritchett'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 Pritchett 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
Pritchett, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$157
$146
Ownwell’s Pritchett Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Pritchett with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Pritchett to estimate your property tax bill. This valuable tool helps you comprehend potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is the value assigned by Baca County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Pritchett, Colorado
Property taxes in Pritchett, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pritchett is 0.68%, which is lower than the U.S. national median of 0.99%. Local government entities within Pritchett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pritchett 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. Understanding how these cities compare with Pritchett provides valuable insights into the varying tax landscape across Baca County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pritchett Tax Rate
0.68%
Average Baca County Tax Rate
0.73%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pritchett, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81064 | 0.46% | 0.65% | 0.68% | 0.69% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Pritchett, Colorado
In Pritchett, 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 Baca 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 Pritchett, 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 Pritchett helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $156, found in zip code 81064.
Average Pritchett Assessed Value
$23,080
Average Baca County Assessed Value
$38,447
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pritchett, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81064 | $7,318 | $10,513 | $23,080 | $47,410 | $87,305 |
Source: Ownwell
Property Tax Bills Across Pritchett, Colorado
In Pritchett, located in Baca County, CO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Pritchett is $23,080. Property taxes are then determined by applying the local tax rate to this assessed value. Factors such as property improvements, neighborhood development, and market trends can influence the assessed value. Homeowners in Pritchett can expect their tax bills to vary significantly, with the 25th percentile tax bill at $71, the 75th percentile at $303, and the 90th percentile reaching up to $623. The highest median tax bill in the area is $156, which is relatively low compared to the national median property tax rate of 0.99%. This means that, overall, property taxes in Pritchett are quite manageable for homeowners, offering them a financial advantage compared to many other regions in the United States.
Average Pritchett Tax Bill
$156
Average Baca County Tax Bill
$265
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Pritchett, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81064 | $47 | $71 | $156 | $303 | $623 |
Source: Ownwell