Hinsdale County, Colorado Property Taxes
The median property tax rate in Hinsdale County is 0.29%, significantly lower than both the national median of 0.99% and Colorado's state median of 0.55%. With a median home value of $71,470 in Hinsdale County, the typical annual property tax bill is approximately $257, which is well below the national median of $2,690. Property taxes in Hinsdale County are calculated based on the tax assessed value, which is often lower than the actual market value due to various property tax exemptions such as primary residence and agricultural exemptions. Understanding Hinsdale County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Lake City or another part of Hinsdale County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hinsdale County, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.29%
Estimate Property Tax Bill
$207
$192
Ownwell’s Hinsdale County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Hinsdale County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Hinsdale County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Hinsdale County, Colorado
Property taxes in Hinsdale County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Hinsdale County is 0.29%, which is significantly lower than the Colorado state median and the U.S. national median of 0.99%. Local government entities within Hinsdale County set these rates annually, and they can vary significantly between different areas within the county. Each year, Hinsdale County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Powderhorn has one of the higher property tax rates in Colorado at 1.29%, while the city of Powderhorn also boasts one of the lowest at 1.29%. Analyzing how Hinsdale County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Hinsdale County Tax Rate
0.29%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hinsdale County, Colorado
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Creede | 0.29% | 0.29% | 0.29% | 0.29% | 0.29% |
| Lake City | 0.29% | 0.30% | 0.39% | 0.39% | 1.76% |
| Pagosa Springs | N/A | N/A | N/A | N/A | N/A |
| Powderhorn | 0.31% | 0.31% | 1.29% | 1.29% | 1.29% |
Source: Ownwell
Property Tax Assessment Values Across Hinsdale County, Colorado
In Hinsdale County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Hinsdale County Appraisal District. The assessed value, however, 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. Assessment notices in Hinsdale County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. In Hinsdale County, Pagosa Springs has the highest median tax bill at $1,737, while Creede has the lowest at $220. Being aware of these valuation processes in Hinsdale County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Hinsdale County Assessed Value
$71,470
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hinsdale County, Colorado
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Creede | $31,390 | $56,010 | $74,560 | $98,060 | $129,700 |
| Lake City | $47,048 | $73,072 | $145,385 | $220,485 | $283,520 |
| Pagosa Springs | N/A | N/A | N/A | N/A | N/A |
| Powderhorn | $2,100 | $4,000 | $9,800 | $32,000 | $107,059 |
Source: Ownwell
Property Tax Bills Across Hinsdale County, Colorado
In Hinsdale County, CO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $71,470, homeowners can expect varying tax bills depending on their property's assessed value and the specific tax rate applied. Several factors influence the final tax bill, including property location, local government budgets, and specific levies for schools or infrastructure. In Hinsdale County, the tax bill at the 25th percentile is approximately $173, while at the 75th percentile, it reaches around $446. The 90th percentile tax bill can go up to $1,083. The highest median tax bill in the region is in Pagosa Springs at $1,737, while Creede has the lowest at $220. For homeowners, understanding these factors is crucial as it directly impacts their annual financial planning and long-term investment in their property.
Average Hinsdale County Tax Bill
$257
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Hinsdale County, Colorado
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Creede | $93 | $167 | $220 | $290 | $382 |
| Lake City | $224 | $402 | $701 | $1,107 | $1,409 |
| Pagosa Springs | N/A | N/A | N/A | N/A | N/A |
| Powderhorn | $25 | $37 | $81 | $280 | $383 |
Source: Ownwell