Creede, Mineral County, Colorado Property Taxes
The median property tax rate in Creede, CO is 0.48%, considerably lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Creede, the typical annual property tax bill reaches $1,000, significantly below the national median of $2,690. Property taxes in Creede 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 Creede'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 Creede 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
Creede, Mineral County, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.48%
Estimate Property Tax Bill
$952
$883
Ownwell’s Creede Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Creede with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Creede 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 Creede, Mineral County, Colorado
Property taxes in Creede, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Creede is 0.48%, which is lower than the U.S. national median of 0.99%. Local government entities within Creede set these rates annually, and they can vary significantly across different neighborhoods. Each year, Creede 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 Creede's effective property tax rate to other counties in Colorado and the national median. For comparison, the 81130 zip code has the highest median property tax rate of 0.48%, while the same zip code also has the lowest median tax rate of 0.48%. Understanding how these cities compare with Creede provides valuable insights into the varying tax landscape across Mineral County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Creede Tax Rate
0.48%
Average Mineral County Tax Rate
0.48%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Creede, Mineral County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81130 | 0.44% | 0.48% | 0.48% | 0.48% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Creede, Mineral County, Colorado
In Creede, 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 local 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 Creede, 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 Creede helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bills is 81130, with a median tax bill of $1,000.
Property Tax Assessment Values Across Creede, Mineral County, Colorado
Source: Ownwell
$198,242
$210,927
$223,611
Average Creede Assessed Value
$198,242
Average Mineral County Assessed Value
$196,925
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Creede, Mineral County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81130 | $35,447 | $96,181 | $198,242 | $294,375 | $433,662 |
Source: Ownwell
Property Tax Bills Across Creede, Mineral County, Colorado
In Creede, located in Mineral 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 a percentage of the market value of the property. Homeowners in Creede face varying tax bills, influenced by factors such as property location, size, and improvements. The median home price in Creede is $198,242. Property tax rates in Creede can significantly impact homeowners. For instance, the tax bill at the 25th percentile is $571, while at the 75th percentile, it rises to $1497, and at the 90th percentile, it reaches $2156. These figures illustrate the range of financial obligations homeowners might encounter. Comparatively, the national median property tax rate is 0.99%, highlighting how regional differences can affect tax bills. In Creede, the highest and lowest median tax bills are both $1000, indicating a level of consistency within the area. Understanding these factors helps homeowners anticipate their financial responsibilities.
Average Creede Tax Bill
$1,000
Average Mineral County Tax Bill
$997
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Creede, Mineral County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81130 | $317 | $571 | $1,000 | $1,497 | $2,156 |
Source: Ownwell