Rand, Colorado Property Taxes
The median property tax rate in RAND, CO is 0.33%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in RAND, the typical annual property tax bill reaches $546, well below the national median of $2,690. Property taxes in RAND 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 RAND'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 RAND 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
Rand, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.33%
Estimate Property Tax Bill
$509
Ownwell’s RAND Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in RAND with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in RAND 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 Rand, Colorado
Property taxes in RAND, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in RAND is 0.33%, significantly lower than both the Colorado state median of 0.55% and the U.S. national median of 0.99%. Local government entities within RAND set these rates annually, and they can vary significantly across different neighborhoods. Each year, RAND 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 RAND's effective property tax rate to other counties in Colorado and the national median. For comparison, ZIP code 80001 has the highest median property tax rate of 0.70%, while ZIP code 80002 has the lowest median tax rate of 0.25%. Understanding how these cities compare with RAND provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rand Tax Rate
0.33%
Average Jackson County Tax Rate
0.33%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rand, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80473 | 0.33% | 0.33% | 0.33% | 0.33% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Rand, Colorado
In RAND, 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 Jackson 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 RAND, 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 RAND helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The ZIP code 80473 has both the highest and lowest median tax bill at $546.
Average Rand Assessed Value
$154,290
Average Jackson County Assessed Value
$122,642
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rand, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80473 | $26,252 | $94,785 | $154,290 | $221,030 | $326,038 |
Source: Ownwell
Property Tax Bills Across Rand, Colorado
In RAND, CO, property tax bills are calculated based on the assessed value of the home, which is determined by the local assessor’s office. The assessed value is typically a percentage of the market value of the property. Homeowners in RAND can expect to pay property taxes that reflect the valuation of their property and the local tax rate. For example, the median home price in RAND is $154,290. The tax bills vary significantly, with the 25th percentile at $396 and the 75th percentile at $724, showing a range in property tax burdens across different homes. Several factors influence the final tax bill, including the property’s location within the county, any applicable exemptions, and the specific tax rate set by local authorities. The highest median tax bill in the area is $546, found in zip code 80473. This tax rate can impact homeowners by influencing their monthly mortgage payments and overall housing affordability. Compared to the national median property tax rate of 0.99%, RAND's tax bills provide a clear picture of how local assessments and rates affect homeowners' financial responsibilities.
Average Rand Tax Bill
$546
Average Jackson County Tax Bill
$560
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Rand, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80473 | $240 | $396 | $546 | $724 | $1,829 |
Source: Ownwell