Paonia, Colorado Property Taxes
The median property tax rate in Paonia, CO is 0.44%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Paonia at $220,702, the typical annual property tax bill is $1,036, well below the national median of $2,690. Property taxes in Paonia are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Paonia'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 Paonia or another part of Delta County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Paonia, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.44%
Estimate Property Tax Bill
$971
Ownwell’s Paonia Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Paonia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Paonia to estimate your property tax bill. This valuable 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 Delta County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Paonia, Colorado
Property taxes in Paonia, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Paonia is 0.44%, significantly lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Paonia set these rates annually, and they can vary across different neighborhoods. Each year, Paonia 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. For comparison, the zip code 81428 has the highest median property tax rate of 0.44%, while the lowest median tax rate is also 0.44%. Understanding how Paonia's tax rates compare with other areas provides valuable insights into the varying tax landscape across Delta County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Paonia Tax Rate
0.44%
Average Delta County Tax Rate
0.45%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Paonia, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81428 | 0.29% | 0.44% | 0.44% | 0.50% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across Paonia, Colorado
In Paonia, 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 Delta 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 Paonia, 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 Paonia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Paonia, both $1036, are found in the 81428 zip code.
Average Paonia Assessed Value
$220,702
Average Delta County Assessed Value
$200,311
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Paonia, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81428 | $42,224 | $143,617 | $220,702 | $301,675 | $397,316 |
Source: Ownwell
Property Tax Bills Across Paonia, Colorado
In Paonia, located in Delta County, CO, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the home's market value, which for Paonia has a median home price of $220,702. Local tax rates are then applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including property size, location, and any applicable exemptions. For instance, homeowners in Paonia can expect their tax bills to vary significantly. The 25th percentile tax bill is around $687, while the 75th percentile reaches $1,416, and the 90th percentile can go up to $1,922. Compared to the national median property tax rate of 0.99%, Paonia's tax rates can offer a relatively moderate financial impact on homeowners. Understanding these factors helps homeowners in Paonia anticipate their annual property tax expenses and budget accordingly.
Average Paonia Tax Bill
$1,036
Average Delta County Tax Bill
$931
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Paonia, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81428 | $417 | $687 | $1,036 | $1,416 | $1,922 |
Source: Ownwell