Rye, Colorado Property Taxes
The median property tax rate in Rye, CO is 0.46%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Rye, the typical annual property tax bill reaches $791, well below the national median of $2,690. Property taxes in Rye are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Rye'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 Rye or another part of Custer County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rye, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.46%
Estimate Property Tax Bill
$805
Ownwell’s Rye Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rye with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rye 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 Rye, Colorado
Property taxes in Rye, Colorado, play a crucial role in supporting essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Rye is 0.46%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Rye set these rates annually, and they can vary across different neighborhoods. Each year, Rye estimates its required budget to maintain services for the upcoming fiscal year and 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 Rye's effective property tax rate to other counties in Colorado and the national median. For comparison, the 81069 zip code has both the highest and lowest median property tax rate at 0.46%. Understanding how these cities compare with Rye provides valuable insights into the varying tax landscape across Custer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rye Tax Rate
0.46%
Average Custer County Tax Rate
0.46%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rye, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81069 | 0.37% | 0.46% | 0.46% | 0.46% | 0.46% |
Source: Ownwell
Property Tax Assessment Values Across Rye, Colorado
In Rye, 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 Custer 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 Rye, 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 Rye helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $791.00, found in the zip code 81069.
Average Rye Assessed Value
$174,978
Average Custer County Assessed Value
$218,072
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rye, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81069 | $58,776 | $92,125 | $174,978 | $291,163 | $393,775 |
Source: Ownwell
Property Tax Bills Across Rye, Colorado
In Rye, located in Custer County, CO, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The median home price in Rye is $174,978. Homeowners in the city experience a range of property tax bills, with the 25th percentile paying around $435, while those in the 75th percentile see bills closer to $1,338. At the higher end, the 90th percentile of property tax bills reaches approximately $1,670. The property tax rate in Rye is influenced by local government budgets and the needs of public services such as schools and infrastructure. Homeowners should note that even within the same county, tax bills can vary significantly. For instance, the highest and lowest median tax bills in the area are both recorded at $791 in the 81069 zip code. These variations can impact homeowners' financial planning and the overall affordability of maintaining property in the region.
Average Rye Tax Bill
$791
Average Custer County Tax Bill
$996
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Rye, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81069 | $270 | $435 | $791 | $1,338 | $1,670 |
Source: Ownwell