Two Buttes, Colorado Property Taxes
The median property tax rate in Two Buttes, CO is 0.76%, notably lower than the national median of 0.99% but higher than the Colorado state median of 0.55%. With a median home value of $53,963 in Two Buttes, the typical annual property tax bill amounts to $440, significantly below the national median of $2,690. Property taxes in Two Buttes are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Two Buttes' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Two Buttes or another part of Baca County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Two Buttes, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$410
$381
Ownwell’s Two Buttes Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Two Buttes with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Two Buttes 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 Two Buttes, Colorado
Property taxes in Two Buttes, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Two Buttes is 0.76%, lower than both the Colorado state median of 0.51% and the U.S. national median of 0.99%. Local government entities within Two Buttes set these rates annually, and they can vary significantly across different neighborhoods. Each year, Two Buttes 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 Two Buttes' effective property tax rate to other counties in Colorado and the national median. For comparison, the 81084 zip code has the highest median property tax rate of 0.76%, while the same zip code also has the lowest median tax rate of 0.76%. Understanding how these cities compare with Two Buttes 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 Two Buttes Tax Rate
0.76%
Average Baca County Tax Rate
0.73%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Two Buttes, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81084 | 0.65% | 0.76% | 0.76% | 0.94% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Two Buttes, Colorado
In Two Buttes, 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. 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 Two Buttes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 81084 has the highest and lowest median tax bill at $440.
Average Two Buttes Assessed Value
$53,963
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 Two Buttes, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81084 | $13,962 | $21,737 | $53,963 | $82,128 | $103,288 |
Source: Ownwell
Property Tax Bills Across Two Buttes, Colorado
In Two Buttes, CO, property tax bills are determined based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the market value of the property, which is determined by the county assessor. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual property tax bill. For homeowners in Two Buttes, the median home price is $53,963. Property tax bills can vary significantly within the area. The 25th percentile tax bill is approximately $214, while the 75th percentile reaches around $639, and the 90th percentile can be as high as $779. These variations can impact homeowners differently, depending on the value of their property and the specific tax rate applied. Compared to the national median property tax rate of 0.99%, the property tax bills in Two Buttes are relatively low, making it a more affordable area for many homeowners. This affordability can be a significant factor for those looking to purchase property in this region.
Average Two Buttes Tax Bill
$440
Average Baca County Tax Bill
$265
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Two Buttes, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81084 | $97 | $214 | $440 | $639 | $779 |
Source: Ownwell