Sanford, Costilla County, Colorado Property Taxes
The median property tax rate in Sanford, 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 Sanford at $74,347, the typical annual property tax bill amounts to $232, well below the national median of $2,690. Property taxes in Sanford are calculated based on the tax assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural use. Understanding 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, Costilla County, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$297
$276
Ownwell’s Sanford Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating 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 provide an estimated property tax bill. This valuable tool offers insight into potential tax liabilities, helping you make informed financial decisions. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax purposes and includes any applicable exemptions.
Property Tax Rates Across Sanford, Costilla County, Colorado
Property taxes in Sanford, Colorado, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sanford is 0.40%, significantly 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 highest median property tax rate in the region is in another Colorado area, while some areas have even lower rates than Sanford. Understanding how these cities compare with Sanford 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 Sanford 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 Sanford, Costilla County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81151 | 0.20% | 0.40% | 0.40% | 0.42% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across Sanford, Costilla County, 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 Costilla 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 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. For instance, the median home price in Sanford is $74,347, with tax bills ranging from $148 at the 25th percentile to $1,020 at the 90th percentile. The highest and lowest median tax bills are both $232 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.
Property Tax Assessment Values Across Sanford, Costilla County, Colorado
Source: Ownwell
$63,470
$88,327
$113,183
Average Sanford Assessed Value
$74,347
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 Sanford, Costilla County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81151 | $31,110 | $42,463 | $74,347 | $113,520 | $187,164 |
Source: Ownwell
Property Tax Bills Across Sanford, Costilla County, Colorado
In Sanford, located in Costilla County, CO, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Sanford is $74,347. Property taxes are determined by multiplying the assessed value of the property by the local tax rate. For instance, the tax bill at the 25th percentile is $148, while at the 75th percentile, it rises to $516. Homeowners at the 90th percentile can expect to pay around $1,020. Several factors influence the property tax bill, including the home's market value, assessment ratio, and applicable exemptions. Compared to the national median property tax rate of 0.99%, Sanford's property tax rates can vary, potentially offering some homeowners a more affordable option. Understanding these details can help homeowners anticipate their annual tax obligations and plan accordingly.
Average Sanford Tax Bill
$232
Average Costilla County Tax Bill
$381
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Sanford, Costilla County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81151 | $108 | $148 | $232 | $516 | $1,020 |
Source: Ownwell