Garcia, Colorado Property Taxes
The median property tax rate in Garcia, Colorado is 0.20%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Garcia, the typical annual property tax bill is $210, far below the national median of $2,690. Property taxes in Garcia are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Garcia'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 Garcia 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
Garcia, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.2%
Estimate Property Tax Bill
$211
Ownwell’s Garcia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Garcia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Garcia 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 Garcia, Colorado
Property taxes in Garcia, Colorado, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Garcia is 0.20%, significantly lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Garcia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Garcia 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 Garcia's effective property tax rate to other counties in Colorado and the national median. For comparison, the highest median property tax rate in the region is significantly higher, while the lowest median tax rate is also notably different. Understanding how these cities compare with Garcia provides valuable insights into the varying tax landscape across Costilla County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Garcia Tax Rate
0.20%
Average Costilla County Tax Rate
0.60%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Garcia, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81152 | 0.20% | 0.20% | 0.20% | 0.20% | 0.20% |
Source: Ownwell
Property Tax Assessment Values Across Garcia, Colorado
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Garcia, Colorado. 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 Costilla 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 Garcia, 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 Garcia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills is 81152, both standing at $210.
Average Garcia Assessed Value
$105,531
Average Costilla County Assessed Value
$81,990
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Garcia, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81152 | $105,531 | $105,531 | $105,531 | $105,531 | $105,531 |
Source: Ownwell
Property Tax Bills Across Garcia, Colorado
In Garcia, located in Costilla County, CO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value typically represents a percentage of the property's market value. For homeowners in Garcia, the median home price stands at $105,531. Property taxes are then calculated by applying the local tax rate to this assessed value. Several factors influence the final tax bill, including the property's location, its assessed value, and any applicable exemptions or deductions. In Garcia, the median tax bill is $210, which is significantly lower than the national median property tax rate of 0.99%. This relatively low tax burden can be beneficial for homeowners, making it more affordable to maintain ownership and reducing the overall cost of living. Understanding how property tax bills are calculated helps homeowners anticipate their annual expenses and plan their finances accordingly, ensuring they are prepared for any changes in property tax rates or assessed values.
Average Garcia Tax Bill
$210
Average Costilla County Tax Bill
$381
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Garcia, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81152 | $210 | $210 | $210 | $210 | $210 |
Source: Ownwell