Ramah, Elbert County, Colorado Property Taxes
The median property tax rate in Ramah, CO is 0.49%, considerably lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Ramah at $299,952, the typical annual property tax bill reaches $1,432, significantly below the national median of $2,690. Property taxes in Ramah are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ramah's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Ramah or another part of Elbert County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ramah, Elbert County, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.49%
Estimate Property Tax Bill
$1,470
$1,364
Ownwell’s Ramah Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ramah with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ramah 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 Ramah, Elbert County, Colorado
Property taxes in Ramah, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ramah is 0.49%, significantly lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Ramah set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ramah 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 Ramah's effective property tax rate to other counties in Colorado and the national median. For comparison, the highest median property tax rate in the area is also 0.49%, while the lowest median tax rate is similarly 0.49%. Understanding how these cities compare with Ramah 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 Ramah Tax Rate
0.49%
Average Elbert County Tax Rate
0.56%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ramah, Elbert County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80832 | 0.40% | 0.42% | 0.49% | 0.55% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Ramah, Elbert County, Colorado
In Ramah, 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 Appraisal District 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 Ramah, 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 Ramah helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,432 in the 80832 zip code.
Property Tax Assessment Values Across Ramah, Elbert County, Colorado
Source: Ownwell
$134,650
$363,700
$592,749
Average Ramah Assessed Value
$299,952
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 Ramah, Elbert County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80832 | $86,878 | $182,591 | $299,952 | $417,175 | $544,859 |
Source: Ownwell
Property Tax Bills Across Ramah, Elbert County, Colorado
In Ramah, CO, property tax bills are calculated based on the assessed value of a home, which is determined by the Elbert County Assessor's Office. The assessed value is a percentage of the property's market value, and the current median home price in Ramah is $299,952. Once the assessed value is established, local tax rates are applied to calculate the final tax bill. Factors such as property location, improvements, and exemptions can influence the assessed value and, consequently, the tax bill. For homeowners in Ramah, property tax bills can vary significantly. For instance, the 25th percentile tax bill is $952, while the 75th percentile tax bill is $1959, and the 90th percentile reaches $2528. These variations reflect differences in property values and applicable exemptions. Compared to the national median property tax rate of 0.99%, Ramah's property tax rates can either offer relief or pose a significant financial burden, depending on individual circumstances. Understanding these factors helps homeowners anticipate their property tax obligations and better manage their finances.
Average Ramah Tax Bill
$1,432
Average Elbert County Tax Bill
$2,641
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Ramah, Elbert County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80832 | $442 | $952 | $1,432 | $1,959 | $2,528 |
Source: Ownwell