Boncarbo, Colorado Property Taxes
The median property tax rate in Boncarbo, CO is 0.24%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Boncarbo at $131,855, the typical annual property tax bill amounts to $315, well below the national median of $2,690. Property taxes in Boncarbo are calculated based on the assessed value, which usually falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Boncarbo'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 Boncarbo or another part of Las Animas County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Boncarbo, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.24%
Estimate Property Tax Bill
$316
Ownwell’s Boncarbo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Boncarbo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Boncarbo 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 Boncarbo, Colorado
Property taxes in Boncarbo, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Boncarbo is 0.24%, significantly lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Boncarbo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Boncarbo 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. Understanding how Boncarbo's effective property tax rate compares to other areas in Las Animas County and the national median provides valuable insights into the varying tax landscape across the region, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Boncarbo Tax Rate
0.24%
Average Las Animas County Tax Rate
0.33%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Boncarbo, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81024 | 0.16% | 0.24% | 0.24% | 0.27% | 0.37% |
Source: Ownwell
Property Tax Assessment Values Across Boncarbo, Colorado
In Boncarbo, 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 Las Animas 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 Boncarbo, 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. The median home price in Boncarbo is $131,855, with tax bills ranging from $199 at the 25th percentile to $674 at the 90th percentile. The highest and lowest median tax bills are both $315, found in zip code 81024. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Identifying opportunities for protesting assessments or applying for exemptions can effectively manage the tax burden.
Average Boncarbo Assessed Value
$131,855
Average Las Animas County Assessed Value
$103,330
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Boncarbo, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81024 | $42,086 | $82,524 | $131,855 | $207,633 | $254,278 |
Source: Ownwell
Property Tax Bills Across Boncarbo, Colorado
In Boncarbo, located in Las Animas County, Colorado, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The local assessor determines the market value, and then the assessed value is calculated using a specific assessment ratio set by the state. Factors such as property size, location, and condition influence the market value. Homeowners in Boncarbo experience varying tax bills. For instance, the 25th percentile tax bill is $199, while the 75th percentile tax bill is $526, and the 90th percentile tax bill reaches $674. The highest median tax bill in the area is $315, which is significantly lower than the national median property tax rate of 0.99%. These property tax bills directly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Understanding how these taxes are calculated helps homeowners anticipate their annual financial obligations and plan accordingly.
Average Boncarbo Tax Bill
$315
Average Las Animas County Tax Bill
$300
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Boncarbo, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81024 | $123 | $199 | $315 | $526 | $674 |
Source: Ownwell