Rifle, Colorado Property Taxes
The median property tax rate in Rifle, CO is 0.50%, which is lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Rifle at $284,295, the typical annual property tax bill is $1,380, significantly below the national median of $2,690. Property taxes in Rifle are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Rifle'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 Rifle 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
Rifle, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.5%
Estimate Property Tax Bill
$1,421
$1,319
Ownwell’s Rifle Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Rifle with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rifle 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 Rifle, Colorado
Property taxes in Rifle, Colorado, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Rifle is 0.50%, which is notably lower than the U.S. national median of 0.99%. Local government entities within Rifle set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rifle 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 Rifle's effective property tax rate to other counties in Colorado and the national median. For comparison, the 81650 zip code has the highest median property tax rate of 0.50%, while the same 81650 zip code also has the lowest median tax rate of 0.50%. Understanding how these cities compare with Rifle provides valuable insights into the varying tax landscape across Garfield County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rifle Tax Rate
0.50%
Average Garfield County Tax Rate
0.50%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rifle, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81650 | 0.46% | 0.46% | 0.50% | 0.50% | 0.50% |
Source: Ownwell
Property Tax Assessment Values Across Rifle, Colorado
In Rifle, 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 Garfield 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 Rifle, 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 Rifle helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Rifle is $284,295, with the highest median tax bill being $1,380 in the 81650 zip code, which also has the lowest median tax bill at $1,380.
Average Rifle Assessed Value
$284,295
Average Garfield County Assessed Value
$363,015
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rifle, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81650 | $65,556 | $191,515 | $284,390 | $352,040 | $447,380 |
Source: Ownwell
Property Tax Bills Across Rifle, Colorado
Property tax bills in Rifle, located in Garfield County, CO, are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and typically represents a percentage of the property's market value. For example, if the median home price in Rifle is $284,295, the assessed value would be a fraction of this amount as determined by local regulations. The local tax rate is then applied to the assessed value to calculate the annual property tax bill. In Rifle, the tax bill can vary significantly, ranging from the 25th percentile at $932 to the 90th percentile at $2,176. The median tax bill in the area is $1,380, which is higher than the national median property tax rate of 0.99%. These property taxes fund essential public services such as schools, emergency services, and infrastructure. For homeowners, understanding how these taxes are calculated can help in financial planning and ensuring they are prepared for their annual tax obligations.
Average Rifle Tax Bill
$1,380
Average Garfield County Tax Bill
$1,819
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Rifle, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81650 | $374 | $932 | $1,380 | $1,719 | $2,176 |
Source: Ownwell