Sanford, Colorado Property Taxes
The median property tax rate in Sanford, CO is 0.60%, slightly higher than the state median of 0.55% but lower than the national median of 0.99%. With the median home value in Sanford at $90,733, the typical annual property tax bill is $578, significantly below the national median of $2,690. Property taxes in Sanford are calculated based on the assessed value, which often falls below the market value due to exemptions such as the primary residence and agricultural exemptions. Familiarizing yourself with Sanford'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 Sanford 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
Sanford, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$544
Ownwell’s Sanford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sanford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sanford 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 Sanford, Colorado
Property taxes in Sanford, Colorado, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Sanford is 0.60%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Sanford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sanford 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 Sanford's effective property tax rate to other counties in Colorado and the national median. For comparison, the 81151 zip code has the highest median property tax rate of 0.60%, while the same zip code also has the lowest median tax rate of 0.60%. Understanding how these areas compare with Sanford provides valuable insights into the varying tax landscape across Conejos County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sanford Tax Rate
0.60%
Average Conejos County Tax Rate
0.53%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sanford, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81151 | 0.30% | 0.52% | 0.60% | 0.60% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Sanford, Colorado
In Sanford, 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 Conejos 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 Sanford, 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 Sanford is $90,733, with tax bills ranging from $324 at the 25th percentile to $1,632 at the 90th percentile. The highest and lowest median tax bills, both $578, are found in the 81151 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 Sanford Assessed Value
$90,733
Average Conejos County Assessed Value
$89,150
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sanford, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81151 | $5,018 | $22,602 | $90,733 | $151,594 | $239,843 |
Source: Ownwell
Property Tax Bills Across Sanford, Colorado
In Sanford, property tax bills are determined based on the assessed value of a home. The assessed value is a percentage of the home's market value, which is then multiplied by the local tax rate set by Conejos County. For instance, with a median home price of $90,733, the tax bill can vary significantly. Homeowners in the 25th percentile might see a tax bill around $324, while those in the 75th percentile could pay up to $986. At the 90th percentile, tax bills can reach as high as $1,632. Various factors influence these amounts, including property size, location, and improvements. Compared to the national median property tax rate of 0.99%, Sanford's rates can be more manageable for some homeowners. However, the impact on homeowners is substantial, as higher property taxes can affect affordability and budgeting. Understanding how these taxes are calculated helps homeowners anticipate their financial obligations and plan accordingly.
Average Sanford Tax Bill
$578
Average Conejos County Tax Bill
$545
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Sanford, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81151 | $129 | $324 | $578 | $986 | $1,632 |
Source: Ownwell