Atwood, Colorado Property Taxes
The median property tax rate in Atwood, CO is 0.53%, lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Atwood, the typical annual property tax bill reaches $1,106, well below the national median of $2,690. Property taxes in Atwood 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 Atwood'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 Atwood 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
Atwood, 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 Atwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Atwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Atwood 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 Atwood, Colorado
Property taxes in Atwood, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Atwood is 0.53%, significantly lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Atwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Atwood 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 Atwood's effective property tax rate to other counties in Colorado and the national median. For comparison, the zip code 80722 has both the highest and lowest median property tax rate of 0.53%. Understanding how these areas compare with Atwood provides valuable insights into the varying tax landscape across Logan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Atwood Tax Rate
0.53%
Average Logan County Tax Rate
0.57%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Atwood, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80722 | 0.52% | 0.52% | 0.53% | 0.76% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Atwood, Colorado
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Atwood, 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 Logan 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 Atwood, 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 Atwood is $177,130, with tax bills ranging from $556 at the 25th percentile to $1,914 at the 75th percentile. Notably, the highest and lowest median tax bills are both $1,106, found in zip code 80722. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Atwood Assessed Value
$177,130
Average Logan County Assessed Value
$146,235
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Atwood, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80722 | $29,924 | $103,805 | $177,130 | $263,480 | $404,706 |
Source: Ownwell
Property Tax Bills Across Atwood, Colorado
Property tax bills in Atwood, Logan County, CO, are calculated 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 determine the annual tax bill. For homeowners in Atwood, the median home price stands at $177,130. The tax bill can vary significantly, with the 25th percentile at $556 and the 75th percentile reaching $1,914. Homeowners in the 90th percentile may see bills as high as $3,628. Compared to the national median property tax rate of 0.99%, Atwood’s tax rates can be a substantial financial consideration for homeowners. Factors such as property improvements, neighborhood developments, and local government budgets can influence the assessed value, thereby affecting the tax bill. Understanding these elements is crucial for homeowners to anticipate and manage their property tax responsibilities effectively.
Average Atwood Tax Bill
$1,106
Average Logan County Tax Bill
$847
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Atwood, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80722 | $157 | $556 | $1,106 | $1,914 | $3,628 |
Source: Ownwell