San Luis, Colorado Property Taxes
The median property tax rate in San Luis, CO is 0.40%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in San Luis at $72,514, the typical annual property tax bill is just $293, well below the national median of $2,690. Property taxes in San Luis are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding San Luis'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 San Luis 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
San Luis, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$290
$269
Ownwell’s SAN LUIS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SAN LUIS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SAN LUIS 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 San Luis, Colorado
Property taxes in San Luis, Colorado, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in San Luis is 0.40%, significantly lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within San Luis set these rates annually, and they can vary significantly across different neighborhoods. Each year, San Luis 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 San Luis's effective property tax rate to other counties in Colorado and the national median. Understanding how San Luis compares with other areas 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 regions.
Average San Luis Tax Rate
0.40%
Average Costilla County Tax Rate
0.60%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across San Luis, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81152 | 0.30% | 0.40% | 0.40% | 0.59% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across San Luis, Colorado
In SAN LUIS, 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 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 SAN LUIS, 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 SAN LUIS is $72,514, with tax bills ranging from $146 at the 25th percentile to $870 at the 90th percentile. The zip code 81152 has both the highest and lowest median tax bill of $293. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average San Luis Assessed Value
$72,514
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 San Luis, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81152 | $3,224 | $30,698 | $72,514 | $129,722 | $201,831 |
Source: Ownwell
Property Tax Bills Across San Luis, Colorado
In San Luis, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the market value of the property. Homeowners in San Luis, located in Costilla County, can expect varying property tax bills depending on their property's assessed value and the specific tax rate applied. For instance, the median home price in San Luis is $72,514. Property tax bills in this area range significantly. At the 25th percentile, homeowners might pay around $146 annually, while those at the 75th percentile could see bills closer to $517. For properties at the 90th percentile, tax bills can go up to $870. These property tax bills can impact homeowners by influencing their monthly mortgage payments and overall housing costs. Compared to the national median property tax rate of 0.99%, San Luis offers relatively affordable property taxes, making it an attractive option for homeowners looking for lower tax burdens.
Average San Luis Tax Bill
$293
Average Costilla County Tax Bill
$381
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across San Luis, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81152 | $42 | $146 | $293 | $517 | $870 |
Source: Ownwell