Cheyenne Wells, Colorado Property Taxes
The median property tax rate in Cheyenne Wells, CO is 0.66%, slightly higher than the Colorado state median of 0.55% but below the national median of 0.99%. With the median home value in Cheyenne Wells at $65,054, the typical annual property tax bill amounts to $412, which is significantly lower than the national median of $2,690. Property taxes in Cheyenne Wells are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Cheyenne Wells' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Cheyenne Wells 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
Cheyenne Wells, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$429
$398
Ownwell’s Cheyenne Wells Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cheyenne Wells with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cheyenne Wells 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 Cheyenne Wells, Colorado
Property taxes in Cheyenne Wells, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cheyenne Wells is 0.66%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Cheyenne Wells set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cheyenne Wells 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 Cheyenne Wells' effective property tax rate to other counties in Colorado and the national median. For comparison, the zip code 80810 has the highest median property tax rate of 0.66%, while the same zip code also has the lowest median tax rate of 0.66%. Understanding how these cities compare with Cheyenne Wells provides valuable insights into the varying tax landscape across Cheyenne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cheyenne Wells Tax Rate
0.66%
Average Cheyenne County Tax Rate
0.66%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cheyenne Wells, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80810 | 0.34% | 0.58% | 0.66% | 0.66% | 0.67% |
Source: Ownwell
Property Tax Assessment Values Across Cheyenne Wells, Colorado
In Cheyenne Wells, 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 Cheyenne 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 Cheyenne Wells, 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 Cheyenne Wells helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills both stand at $412 in zip code 80810, reflecting a consistent tax landscape within the area.
Property Tax Assessment Values Across Cheyenne Wells, Colorado
Source: Ownwell
$36,898
$121,307
$205,715
Average Cheyenne Wells Assessed Value
$65,054
Average Cheyenne County Assessed Value
$55,241
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cheyenne Wells, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80810 | $7,172 | $20,618 | $65,054 | $137,467 | $237,261 |
Source: Ownwell
Property Tax Bills Across Cheyenne Wells, Colorado
In Cheyenne Wells, located in Cheyenne County, CO, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and represents a percentage of the property's market value. Factors such as property size, location, and improvements influence this assessed value. Homeowners in Cheyenne Wells experience property tax bills that vary widely. For instance, the 25th percentile tax bill is $198, while the 75th percentile is $772, and the 90th percentile reaches up to $1430. The median home price in Cheyenne Wells is $65,054, and the median tax bill is $412. This is significantly lower than the national median property tax rate of 0.99%. These tax bills directly impact homeowners by influencing their annual housing costs and overall affordability. Lower property taxes can make homeownership more accessible, while higher taxes can add to the financial burden. Understanding these factors helps homeowners plan and manage their expenses more effectively.
Average Cheyenne Wells Tax Bill
$412
Average Cheyenne County Tax Bill
$407
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Cheyenne Wells, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80810 | $68 | $198 | $412 | $772 | $1,430 |
Source: Ownwell