Redvale, Colorado Property Taxes
The median property tax rate in Redvale, CO is 0.40%, significantly lower than both the national median of 0.99% and Colorado's state median of 0.55%. With the median home value in Redvale at $176,625, the typical annual property tax bill amounts to $712, which is well below the national median of $2,690. Property taxes in Redvale are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Redvale'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 Redvale or another part of Dolores County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Redvale, Colorado Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$1,100
Ownwell’s Redvale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Redvale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Redvale 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 Redvale, Colorado
Property taxes in Redvale, Colorado, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Redvale is 0.40%, which is notably lower than the U.S. national median of 0.99%. Local government entities within Redvale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Redvale 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 Redvale's effective property tax rate to other areas within Dolores County and the national median. For comparison, the zip code 81431 has the highest median property tax rate of 0.40%, while the same zip code also has the lowest median tax rate of 0.40%. Understanding how these areas compare with Redvale provides valuable insights into the varying tax landscape across Dolores County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Redvale Tax Rate
0.40%
Average Dolores County Tax Rate
0.48%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Redvale, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81431 | 0.40% | 0.40% | 0.40% | 0.42% | 0.42% |
Source: Ownwell
Property Tax Assessment Values Across Redvale, Colorado
In Redvale, 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 Dolores 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 Redvale, 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 Redvale 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 Redvale are both $696, recorded in the 81431 zip code.
Average Redvale Assessed Value
$176,625
Average Dolores County Assessed Value
$95,040
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Redvale, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81431 | $52,708 | $123,384 | $174,771 | $225,545 | $259,570 |
Source: Ownwell
Property Tax Bills Across Redvale, Colorado
In Redvale, located in Dolores County, CO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. For example, with a median home price of $176,625, homeowners in Redvale can expect varying tax bills depending on their property's assessed value and the local tax rate. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. In Redvale, the tax bill at the 25th percentile is $473, while at the 75th percentile, it is $917. The 90th percentile sees tax bills as high as $1,057. This range highlights how different factors can significantly impact the amount homeowners owe. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax obligations. Homeowners in Redvale should be aware of these factors as they directly influence their annual property tax bills and overall financial planning.
Average Redvale Tax Bill
$712
Average Dolores County Tax Bill
$568
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Redvale, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81431 | $211 | $460 | $696 | $905 | $1,045 |
Source: Ownwell