Iliff, Logan County, Colorado Property Taxes
The median property tax rate in Iliff, CO is 0.58%, slightly higher than the Colorado state median of 0.55% but significantly lower than the national median of 0.99%. With a median home value of $115,960, the typical annual property tax bill in Iliff reaches $690, well below the national median of $2,690. Property taxes in Iliff are calculated based on the assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Iliff'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 Iliff or another part of Logan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Iliff, Logan County, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$673
$624
Ownwell’s Iliff Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Iliff with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Iliff 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 Iliff, Logan County, Colorado
Property taxes in Iliff, Colorado, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Iliff is 0.58%, which is lower than the U.S. national median of 0.99%. Local government entities within Iliff set these rates annually, and they can vary significantly across different neighborhoods. Each year, Iliff 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 Iliff's effective property tax rate to other counties in Colorado and the national median. For comparison, the zip code 80736 has both the highest and lowest median property tax rate at 0.58%. Understanding how these cities compare with Iliff 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 Iliff Tax Rate
0.58%
Average Logan County Tax Rate
0.57%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Iliff, Logan County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80736 | 0.52% | 0.57% | 0.58% | 0.76% | 1.92% |
Source: Ownwell
Property Tax Assessment Values Across Iliff, Logan County, Colorado
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Iliff, Colorado. The market value represents 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 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 Iliff, 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. The median home price in Iliff is $115,960, with tax bills varying significantly. For instance, the 25th percentile tax bill is $235, while the 75th percentile tax bill is $1,559. The highest median tax bill in the area is $690, found in the 80736 zip code, which also has the lowest median tax bill of $690. Being aware of these valuation processes in Iliff helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Iliff, Logan County, Colorado
Source: Ownwell
$87,550
$132,340
$177,130
Average Iliff Assessed Value
$115,960
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 Iliff, Logan County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80736 | $5,044 | $40,680 | $115,960 | $208,810 | $361,136 |
Source: Ownwell
Property Tax Bills Across Iliff, Logan County, Colorado
In Iliff, Logan County, CO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is typically a percentage of the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. For instance, in Iliff, the median home price is $115,960. Homeowners in the 25th percentile can expect a tax bill around $235, while those in the 75th percentile might see a bill closer to $1,559. At the 90th percentile, tax bills can soar to $5,911. Compared to the national median property tax rate of 0.99%, Iliff's tax rates can significantly impact homeowners, making it essential to understand these factors to manage financial expectations and responsibilities effectively.
Average Iliff Tax Bill
$690
Average Logan County Tax Bill
$847
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Iliff, Logan County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80736 | $30 | $235 | $690 | $1,559 | $5,911 |
Source: Ownwell