Red Cliff Area, Colorado Property Taxes
The median property tax rate in the Red Cliff area, CO is 0.61%, slightly higher than the state median of 0.55% but lower than the national median of 0.99%. With the median home value in the Red Cliff area at $122,105, the typical annual property tax bill amounts to $746, significantly below the national median of $2,690. Property taxes here are calculated based on the assessed value, which is often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding the Red Cliff area'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 the Red Cliff area or another part of Eagle County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Red Cliff Area, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$745
Ownwell’s Red Cliff Area Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Red Cliff Area with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Red Cliff Area 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 Red Cliff Area, Colorado
Property taxes in the Red Cliff area, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in the Red Cliff area is 0.61%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within the Red Cliff area set these rates annually, and they can vary significantly across different neighborhoods. Each year, the Red Cliff area 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. Understanding how the Red Cliff area compares with other regions in Eagle County provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Red Cliff Area Tax Rate
0.61%
Average Eagle County Tax Rate
0.44%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Red Cliff Area, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Red Cliff Area, Colorado
In the Red Cliff Area, 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 Eagle 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. 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. For example, in Red Cliff Area, the lowest tax bills are around $113, while the highest can reach up to $1,744. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Red Cliff Area, Colorado
Source: Ownwell
$44,100
$1,243,965
$2,443,830
Average Red Cliff Area Assessed Value
$122,105
Average Eagle County Assessed Value
$678,345
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Red Cliff Area, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Red Cliff Area, Colorado
In the Red Cliff area of Eagle County, CO, property tax bills are determined based on the assessed value of a property, which is a percentage of its market value. The median home price here is $122,105. Local tax authorities apply a specific tax rate to this assessed value to calculate the annual tax bill. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions or deductions. For homeowners in this area, the tax burden can vary significantly. At the 25th percentile, tax bills are around $113, while at the 75th percentile, they can reach up to $1,429. The top 10% of property tax bills soar to approximately $1,744. Compared to the national median property tax rate of 0.99%, homeowners in the Red Cliff area may find their tax rates to be relatively manageable, offering some financial relief. However, understanding these factors is crucial for homeowners to anticipate and manage their property tax obligations effectively.
Average Red Cliff Area Tax Bill
$746
Average Eagle County Tax Bill
$3,388
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Red Cliff Area, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell