Towner, Colorado Property Taxes
The median property tax rate in Towner, CO is 0.61%, which is lower than the national median of 0.99% but slightly higher than Colorado's state median of 0.55%. With the median home value in Towner at $36,503, the typical annual property tax bill is $351, well below the national median of $2,690. Property taxes in Towner 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 Towner'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 Towner 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
Towner, Colorado Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$1,100
Ownwell’s Towner Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Towner with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Towner 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 Towner, Colorado
Property taxes in Towner, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Towner is 0.61%, which is lower than the U.S. national median of 0.99%. Local government entities within Towner set these rates annually, and they can vary significantly across different neighborhoods. Each year, Towner 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 Towner's effective property tax rate to other counties in Colorado and the national median. For comparison, the 81071 zip code has both the highest and lowest median property tax rate of 0.61%. Understanding how these areas compare with Towner provides valuable insights into the varying tax landscape across Kiowa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Towner Tax Rate
0.61%
Average Kiowa County Tax Rate
0.98%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Towner, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81071 | 0.30% | 0.61% | 0.61% | 0.72% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Towner, Colorado
Understanding the distinction between "market value" and "assessed value" is essential for grasping property taxes in Towner, Colorado. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the Kiowa 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 Towner, 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. Awareness of these valuation processes in Towner helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Towner, the highest and lowest median tax bills are both $351.00, found in zip code 81071.
Average Towner Assessed Value
$36,503
Average Kiowa County Assessed Value
$47,865
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Towner, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81071 | $14,987 | $28,766 | $36,503 | $101,210 | $115,182 |
Source: Ownwell
Property Tax Bills Across Towner, Colorado
In Towner, located in Kiowa County, CO, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the market value, which is then multiplied by the local tax rate. With a median home price of $36,503, homeowners in Towner can expect their property tax bills to vary significantly. For instance, tax bills at the 25th percentile are around $197, while those at the 75th percentile reach up to $670. At the 90th percentile, tax bills can be as high as $1,468. These tax rates are influenced by local budgetary needs, school funding, and public services, which means that even within the same county, tax bills can vary. For example, the highest and lowest median tax bills in the region are both $351, tied to the zip code 81071. Compared to the national median property tax rate of 0.99%, homeowners in Towner experience a unique range of property tax obligations that can significantly impact their annual financial planning.
Average Towner Tax Bill
$351
Average Kiowa County Tax Bill
$440
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Towner, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81071 | $174 | $197 | $351 | $670 | $1,468 |
Source: Ownwell