Silver Cliff, Colorado Property Taxes
The median property tax rate in Silver Cliff, CO is 0.50%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With a median home value of $160,085 in Silver Cliff, the typical annual property tax bill is $758, which is well below the national median of $2,690. Property taxes in Silver Cliff 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 Silver Cliff'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 Silver Cliff 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
Silver Cliff, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.5%
Estimate Property Tax Bill
$800
Ownwell’s Silver Cliff Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Silver Cliff with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Silver Cliff 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 Silver Cliff, Colorado
Property taxes in Silver Cliff, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Silver Cliff is 0.50%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Silver Cliff set these rates annually, and they can vary significantly across different neighborhoods. Each year, Silver Cliff 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 Silver Cliff's effective property tax rate to other areas in Custer County and the national median. For comparison, the zip code 81252 has the highest median property tax rate of 0.50%, while the same zip code also has the lowest median tax rate of 0.50%. Understanding how these areas compare with Silver Cliff 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 Silver Cliff Tax Rate
0.50%
Average Custer County Tax Rate
0.46%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Silver Cliff, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81252 | 0.36% | 0.50% | 0.50% | 0.51% | 0.52% |
Source: Ownwell
Property Tax Assessment Values Across Silver Cliff, Colorado
In Silver Cliff, 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 Silver Cliff, 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 Silver Cliff helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median property tax bill in Silver Cliff is $758, which can vary across different zip codes.
Average Silver Cliff Assessed Value
$160,085
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 Silver Cliff, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81252 | $38,194 | $88,000 | $160,085 | $252,551 | $350,989 |
Source: Ownwell
Property Tax Bills Across Silver Cliff, Colorado
In Silver Cliff, Colorado, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Silver Cliff is $160,085. Property taxes are influenced by various factors, including the property's location within Custer County and the specific tax rates set by local taxing authorities. For homeowners in Silver Cliff, the tax bill can vary significantly. The 25th percentile tax bill is $422, while the 75th percentile tax bill reaches $1,261, and the 90th percentile tax bill can be as high as $1,777. Compared to the national median property tax rate of 0.99%, Silver Cliff's property tax rates may seem more favorable, offering a potential advantage for homeowners. Understanding these factors helps homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Silver Cliff Tax Bill
$758
Average Custer County Tax Bill
$996
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Silver Cliff, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81252 | $150 | $422 | $758 | $1,261 | $1,777 |
Source: Ownwell