Peetz, Colorado Property Taxes
The median property tax rate in Peetz, CO is 0.66%, which is lower than the national median of 0.99% but higher than the Colorado state median of 0.55%. With a median home value of $116,730 in Peetz, the typical annual property tax bill is $779, significantly below the national median of $2,690. Property taxes in Peetz are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Peetz'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 Peetz 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
Peetz, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$770
Ownwell’s Peetz Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Peetz with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Peetz 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 Peetz, Colorado
Property taxes in Peetz, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Peetz is 0.66%, lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Peetz set these rates annually, and they can vary significantly across different neighborhoods. Each year, Peetz 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 Peetz's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80747 zip code has both the highest and lowest median property tax rate of 0.66%. Understanding how these cities compare with Peetz 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 Peetz Tax Rate
0.66%
Average Logan County Tax Rate
0.57%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Peetz, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80747 | 0.41% | 0.56% | 0.66% | 0.78% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Peetz, Colorado
In Peetz, 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 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 Peetz, 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 Peetz helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Peetz are both $779, found in the zip code 80747.
Average Peetz Assessed Value
$116,730
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 Peetz, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80747 | $26,696 | $62,370 | $116,730 | $182,790 | $239,430 |
Source: Ownwell
Property Tax Bills Across Peetz, Colorado
In Peetz, property tax bills are calculated based on the assessed value of a home, which is determined by the Logan County assessor. The assessed value is a percentage of the home's market value, which in Peetz has a median price of $116,730. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Homeowners in Peetz can expect their tax bills to vary significantly. For instance, the 25th percentile tax bill is around $409, while the 75th percentile tax bill reaches approximately $1,159. At the higher end, the 90th percentile tax bill can be as much as $1,760. These variations are influenced by factors such as property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Peetz homeowners experience a range of tax burdens, which can impact their overall financial planning and housing affordability. Understanding these factors is crucial for homeowners to effectively manage their property tax obligations.
Average Peetz Tax Bill
$779
Average Logan County Tax Bill
$847
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Peetz, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80747 | $115 | $409 | $779 | $1,159 | $1,760 |
Source: Ownwell