Westcliffe, Colorado Property Taxes
The median property tax rate in Westcliffe, CO is 0.40%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Westcliffe at $206,088, the typical annual property tax bill comes to $816, far below the national median of $2,690. Property taxes in Westcliffe are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Westcliffe'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 Westcliffe or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Westcliffe, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$824
Ownwell’s WESTCLIFFE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in WESTCLIFFE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in WESTCLIFFE 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 Westcliffe, Colorado
Property taxes in Westcliffe, Colorado, are crucial for funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Westcliffe stands at 0.40%, which is significantly lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities in Westcliffe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Westcliffe estimates its required budget to maintain services for the upcoming fiscal year. This budget is then divided by the total value of all taxable property within the jurisdiction to calculate the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. For comparison, the highest median property tax rate within Colorado can be found in certain areas, while other regions have the lowest median tax rates. Understanding how these areas compare with Westcliffe provides valuable insights into the varying tax landscape across Fremont County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Westcliffe Tax Rate
0.40%
Average Fremont County Tax Rate
0.55%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Westcliffe, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81252 | 0.24% | 0.30% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Westcliffe, Colorado
In Westcliffe, 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 Fremont 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 Westcliffe, 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 Westcliffe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Westcliffe is $206,088, with the median tax bill at the 25th percentile being $497 and at the 75th percentile being $858. The highest and lowest median tax bills are both $816, found in zip code 81252.
Average Westcliffe Assessed Value
$206,088
Average Fremont County Assessed Value
$205,831
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Westcliffe, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81252 | $113,056 | $147,943 | $206,088 | $216,712 | $223,086 |
Source: Ownwell
Property Tax Bills Across Westcliffe, Colorado
In Westcliffe, property tax bills are calculated based on the assessed value of the property, which is a percentage of the market value. Homeowners can expect their tax bill to be influenced by the local tax rate and the assessed value determined by the county assessor. For instance, the median home price in Westcliffe is $206,088, and the property tax rate is applied to this assessed value to determine the tax owed. Factors such as property improvements, neighborhood changes, and market trends can affect the assessed value, thereby impacting the tax bill. Homeowners in Westcliffe typically see property tax bills ranging from $497 at the 25th percentile to $858 at the 75th percentile, with the 90th percentile reaching up to $883. This is relatively lower compared to the national median property tax rate of 0.99%. Understanding these factors and how they influence property tax bills helps homeowners in Westcliffe plan their finances better and anticipate any changes in their annual tax obligations.
Average Westcliffe Tax Bill
$816
Average Fremont County Tax Bill
$1,012
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Westcliffe, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81252 | $305 | $497 | $816 | $858 | $883 |
Source: Ownwell