Westcliffe, Colorado Property Taxes
The median property tax rate in Westcliffe, 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 Westcliffe, the typical annual property tax bill reaches $1,032, which is well below the national median of $2,690. Property taxes in Westcliffe 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 Westcliffe'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 Westcliffe 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
Westcliffe, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.46%
Estimate Property Tax Bill
$1,027
$953
Ownwell’s Westcliffe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Westcliffe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Westcliffe 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 Westcliffe, Colorado
Property taxes in Westcliffe, Colorado, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Westcliffe is 0.46%, which is lower than the U.S. national median of 0.99%. Local government entities within Westcliffe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Westcliffe 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 Westcliffe's effective property tax rate to other counties in Colorado and the national median. For comparison, the 81252 zip code has both the highest and lowest median property tax rate of 0.46%. Understanding how these areas compare with Westcliffe 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 Westcliffe 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 Westcliffe, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81252 | 0.37% | 0.46% | 0.46% | 0.47% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across Westcliffe, Colorado
In Westcliffe, 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 Westcliffe, 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. For example, the median home price in Westcliffe is $223,286, with tax bills ranging from $548 at the 25th percentile to $2,440 at the 90th percentile. The highest and lowest median tax bills are both $1,032 in the 81252 zip code. By understanding these valuation processes, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Westcliffe Assessed Value
$223,286
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 Westcliffe, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81252 | $56,273 | $122,057 | $223,286 | $348,520 | $494,734 |
Source: Ownwell
Property Tax Bills Across Westcliffe, Colorado
In Westcliffe, located in Custer County, CO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Westcliffe is $223,286. Local assessors determine the assessed value, and this figure is then multiplied by the local tax rate to calculate the annual property tax bill. Factors such as property size, location, and improvements can influence the assessed value. For homeowners, this means that changes in the housing market or property enhancements can lead to variations in their tax bill. In Westcliffe, the tax bills vary significantly, with the 25th percentile paying around $548 annually, while those in the 75th percentile face a tax bill of approximately $1,661. At the higher end, the 90th percentile sees tax bills reaching up to $2,440. These property taxes are crucial for funding local services like schools, public safety, and infrastructure, directly impacting the community's quality of life.
Average Westcliffe Tax Bill
$1,032
Average Custer County Tax Bill
$996
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Westcliffe, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81252 | $263 | $548 | $1,032 | $1,661 | $2,440 |
Source: Ownwell