Matheson, Colorado Property Taxes
The median property tax rate in Matheson, CO is 0.50%, 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 Matheson, the typical annual property tax bill amounts to $697, significantly below the national median of $2,690. Property taxes in Matheson are determined based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Matheson'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 Matheson or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Matheson, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.5%
Estimate Property Tax Bill
$673
$625
Ownwell’s Matheson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Matheson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Matheson 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 Matheson, Colorado
Property taxes in Matheson, Colorado, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Matheson is 0.50%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Matheson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Matheson 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 Matheson's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80830 zip code has both the highest and lowest median property tax rate of 0.50%. Understanding how these cities compare with Matheson provides valuable insights into the varying tax landscape across Elbert County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Matheson Tax Rate
0.50%
Average Elbert County Tax Rate
0.56%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Matheson, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80830 | 0.37% | 0.49% | 0.50% | 0.56% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across Matheson, Colorado
In Matheson, 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 Elbert 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 Matheson, 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 in Matheson is $134,650, with tax bills ranging from $256 at the 25th percentile to $1,890 at the 90th percentile. The highest and lowest median tax bills in the area are both $697, found in the 80830 zip code. 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 Matheson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Matheson Assessed Value
$134,650
Average Elbert County Assessed Value
$469,640
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Matheson, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80830 | $9,608 | $49,920 | $134,650 | $224,246 | $354,063 |
Source: Ownwell
Property Tax Bills Across Matheson, Colorado
In Matheson, Elbert County, CO, property tax bills are calculated based on the assessed value of your home, which is a percentage of its market value. The median home price in Matheson is $134,650. The local tax rate is applied to this assessed value to determine your annual property tax bill. For instance, homeowners in the 25th percentile can expect to pay around $256 annually, while those in the 75th percentile might see bills closer to $1,353. The 90th percentile reaches up to $1,890. Factors influencing your tax bill include property improvements, neighborhood changes, and local government budgets. These taxes fund essential public services like schools, emergency services, and infrastructure. Compared to the national median property tax rate of 0.99%, Matheson offers relatively affordable property taxes, making it a financially attractive location for homeowners. Understanding these factors can help homeowners better anticipate their annual property tax obligations and manage their finances accordingly.
Average Matheson Tax Bill
$697
Average Elbert County Tax Bill
$2,641
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Matheson, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80830 | $39 | $256 | $697 | $1,353 | $1,890 |
Source: Ownwell