Creede, Hinsdale County, Colorado Property Taxes
The median property tax rate in Creede, CO is 0.29%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Creede, the typical annual property tax bill amounts to $220, well below the national median of $2,690. Property taxes in Creede 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 Creede'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 Creede 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
Creede, Hinsdale County, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.29%
Estimate Property Tax Bill
$216
$201
Ownwell’s Creede Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Creede with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Creede 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 Creede, Hinsdale County, Colorado
Property taxes in Creede, Colorado, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Creede is 0.29%, significantly lower than both the Colorado state median of 0.52% and the U.S. national median of 0.99%. Local government entities within Creede set these rates annually, and they can vary significantly across different neighborhoods. Each year, Creede 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 Creede's effective property tax rate to other counties in Colorado and the national median. For comparison, ZIP code 81657 has the highest median property tax rate of 0.51%, while ZIP code 81092 has the lowest median tax rate of 0.21%. Understanding how these cities compare with Creede provides valuable insights into the varying tax landscape across Hinsdale County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Creede Tax Rate
0.29%
Average Hinsdale County Tax Rate
0.29%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Creede, Hinsdale County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81130 | 0.29% | 0.29% | 0.29% | 0.29% | 0.29% |
Source: Ownwell
Property Tax Assessment Values Across Creede, Hinsdale County, Colorado
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Creede, Colorado. 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 Hinsdale 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 Creede, 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 Creede helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Creede, the highest and lowest median tax bills are both found in the 81130 zip code, each with a median tax bill of $220. Understanding these figures can help property owners assess their own tax situations more accurately.
Property Tax Assessment Values Across Creede, Hinsdale County, Colorado
Source: Ownwell
$9,800
$77,593
$145,385
Average Creede Assessed Value
$74,560
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 Creede, Hinsdale County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81130 | $31,390 | $56,010 | $74,560 | $98,060 | $129,700 |
Source: Ownwell
Property Tax Bills Across Creede, Hinsdale County, Colorado
In Creede, Hinsdale County, CO, property tax bills are determined based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to calculate the annual tax bill. Factors influencing the tax bill include the property's assessed value, which is derived from the median home price of $74,560, and the specific tax rate for the area. For homeowners, this means that properties with higher assessed values will naturally incur higher tax bills. For instance, tax bills in Creede range from the 25th percentile at $167 to the 90th percentile at $382. This variation reflects the differences in property values and the application of the tax rate. Compared to the national median property tax rate of 0.99%, homeowners in Creede might find their tax bills relatively manageable. However, understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Creede Tax Bill
$220
Average Hinsdale County Tax Bill
$257
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Creede, Hinsdale County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81130 | $93 | $167 | $220 | $290 | $382 |
Source: Ownwell