Vilas, Colorado Property Taxes
The median property tax rate in Vilas, CO is 0.85%, which is lower than the national median of 0.99% but higher than the Colorado state median of 0.55%. With the median home value in Vilas at $22,822, the typical annual property tax bill is $224, significantly below the national median of $2,690. Property taxes in Vilas are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Vilas'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 Vilas 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
Vilas, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$194
Ownwell’s Vilas Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Vilas with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Vilas to provide an accurate property tax estimate. This user-friendly tool offers valuable insights into potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available further down the page. Your property’s assessed value, determined by the county, is used for calculating property taxes and takes into account any applicable exemptions.
Property Tax Rates Across Vilas, Colorado
Property taxes in Vilas, Colorado, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Vilas is 0.85%, lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Vilas set these rates annually, and they can vary significantly across different neighborhoods. Each year, Vilas 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 Vilas's effective property tax rate to other counties in Colorado and the national median. For comparison, the 81087 zip code has the highest median property tax rate of 0.85%, while the same zip code also has the lowest median tax rate of 0.85%. Understanding how these cities compare with Vilas 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 Vilas Tax Rate
0.85%
Average Baca County Tax Rate
0.73%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Vilas, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81087 | 0.79% | 0.85% | 0.85% | 0.93% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Vilas, Colorado
In Vilas, 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 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 Vilas, 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. The median home price in Vilas is $22,822, with the 25th percentile tax bill at $134 and the 75th percentile at $303. The highest and lowest median tax bills are both $224 in the 81087 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Vilas Assessed Value
$22,822
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 Vilas, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81087 | $10,426 | $14,141 | $22,822 | $46,986 | $61,722 |
Source: Ownwell
Property Tax Bills Across Vilas, Colorado
In Vilas, CO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. Factors influencing the tax bill include the home's market value, local tax rates, and any applicable exemptions or deductions. For homeowners in Vilas, the median home price is $22,822. Property tax bills can vary significantly, with the 25th percentile tax bill at $134 and the 75th percentile at $303. The 90th percentile tax bill reaches up to $460. Comparatively, the highest and lowest median tax bills in the area are both $224 in the 81087 zip code. These property taxes fund essential services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Understanding how these taxes are calculated helps homeowners plan their finances and anticipate annual expenses.
Average Vilas Tax Bill
$224
Average Baca County Tax Bill
$265
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Vilas, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81087 | $117 | $134 | $224 | $303 | $460 |
Source: Ownwell