Yellow Jacket, Colorado Property Taxes
The median property tax rate in Yellow Jacket, CO is 0.33%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Yellow Jacket, the typical annual property tax bill amounts to $603, which is well below the national median of $2,690. Property taxes in Yellow Jacket are calculated based on the tax assessed value, often lower than market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Yellow Jacket'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 Yellow Jacket or another part of Montezuma County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Yellow Jacket, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.33%
Estimate Property Tax Bill
$530
$492
Ownwell’s YELLOW JACKET Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in YELLOW JACKET with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in YELLOW JACKET 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 Yellow Jacket, Colorado
Property taxes in Yellow Jacket, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Yellow Jacket is 0.33%, which is significantly lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Yellow Jacket set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yellow Jacket 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 Yellow Jacket's effective property tax rate to other counties in Colorado and the national median. Understanding how Yellow Jacket compares with other areas provides valuable insights into the varying tax landscape across Montezuma County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Yellow Jacket Tax Rate
0.33%
Average Montezuma County Tax Rate
0.39%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Yellow Jacket, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81335 | 0.26% | 0.33% | 0.33% | 0.42% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Yellow Jacket, Colorado
In Yellow Jacket, 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 Montezuma 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 Yellow Jacket, 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 Yellow Jacket helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bill in Yellow Jacket both amount to $603.00, found in zip code 81335.
Property Tax Assessment Values Across Yellow Jacket, Colorado
Source: Ownwell
$127,550
$173,238
$218,926
Average Yellow Jacket Assessed Value
$160,626
Average Montezuma County Assessed Value
$183,673
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Yellow Jacket, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81335 | $46,606 | $86,668 | $160,626 | $276,050 | $437,945 |
Source: Ownwell
Property Tax Bills Across Yellow Jacket, Colorado
In YELLOW JACKET, property tax bills are calculated based on the assessed value of a home, 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 instance, with a median home price of $160,626, homeowners can expect varying tax bills depending on their property's specific assessment and other local factors. The tax bill in YELLOW JACKET can range significantly. At the 25th percentile, homeowners might pay around $274, while at the 75th percentile, the tax bill could be as high as $1,027. Those in the 90th percentile may see tax bills reaching up to $1,422. This variation is influenced by the home's assessed value and the specific tax rate applied by Montezuma County. Compared to the national median property tax rate of 0.99%, YELLOW JACKET's property tax bills reflect the local economic conditions and property values, impacting homeowners differently based on their property's assessed value and the county's tax policies.
Average Yellow Jacket Tax Bill
$603
Average Montezuma County Tax Bill
$702
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Yellow Jacket, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81335 | $181 | $274 | $603 | $1,027 | $1,422 |
Source: Ownwell