Manitou Springs, Colorado Property Taxes
The median property tax rate in Manitou Springs, CO is 0.51%, which is notably lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Manitou Springs at $368,449, the typical annual property tax bill is $1,841, significantly below the national median of $2,690. Property taxes in Manitou Springs are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Manitou Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Manitou Springs or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Manitou Springs, 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 Manitou Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Manitou Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Manitou Springs 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 Manitou Springs, Colorado
Property taxes in Manitou Springs, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Manitou Springs is 0.51%, slightly higher than the Colorado state median but lower than the U.S. national median of 0.99%. Local government entities within Manitou Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Manitou Springs 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 Manitou Springs' effective property tax rate to other areas in El Paso County and the national median. For comparison, the 80829 zip code has the highest median property tax rate of 0.51%, while the 80809 zip code has the lowest median tax rate of 0.42%. Understanding how these areas compare with Manitou Springs provides valuable insights into the varying tax landscape across El Paso County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Manitou Springs Tax Rate
0.51%
Average El Paso County Tax Rate
0.42%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Manitou Springs, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80809 | 0.42% | 0.42% | 0.42% | 0.42% | 0.42% |
| 80829 | 0.39% | 0.45% | 0.51% | 0.51% | 0.51% |
| 80904 | N/A | N/A | N/A | N/A | N/A |
| 80926 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Manitou Springs, Colorado
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Manitou Springs, Colorado. The market value represents 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 El Paso 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 Manitou Springs, 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. The median home price here is $368,449, with the tax bill at the 25th percentile being $1,368 and at the 75th percentile being $2,382. Understanding these valuation concepts helps property owners navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions. The highest median tax bill is $2,520 in zip code 80809, while the lowest is $1,841 in zip code 80829.
Property Tax Assessment Values Across Manitou Springs, Colorado
Source: Ownwell
$9,491
$722,691
$1,435,891
Average Manitou Springs Assessed Value
$368,449
Average El Paso County Assessed Value
$319,355
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Manitou Springs, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80809 | $595,176 | $595,176 | $595,176 | $595,176 | $595,176 |
| 80829 | $107,000 | $258,598 | $368,591 | $482,324 | $596,547 |
| 80904 | N/A | N/A | N/A | N/A | N/A |
| 80926 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Manitou Springs, Colorado
In Manitou Springs, located in El Paso County, CO, property tax bills are calculated based on the assessed value of the home, which is determined by the county assessor. This assessed value is a percentage of the market value of the property. The local tax rate is then applied to this assessed value to determine the annual property tax bill. For example, with a median home price of $368,449, homeowners can expect property tax bills to vary significantly. The 25th percentile tax bill is around $1,368, while the 75th percentile reaches $2,382, and the 90th percentile can go up to $2,911. These figures contrast with the national median property tax rate of 0.99%, highlighting the variability in property tax burdens. Homeowners in Manitou Springs should be aware of these factors as they directly impact their annual expenses. Property taxes fund essential local services such as schools, infrastructure, and emergency services, making them a crucial aspect of homeownership in the area.
Average Manitou Springs Tax Bill
$1,841
Average El Paso County Tax Bill
$1,379
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Manitou Springs, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80809 | $2,520 | $2,520 | $2,520 | $2,520 | $2,520 |
| 80829 | $1,022 | $1,368 | $1,841 | $2,379 | $2,911 |
| 80904 | N/A | N/A | N/A | N/A | N/A |
| 80926 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell