Otero County Property Taxes
The median property tax rate in Otero County is 0.47%, which is significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Otero County, the typical annual property tax bill is $266, far below the national median of $2,690. Property taxes in Otero County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Otero County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in La Junta or another part of Otero County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Otero County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$272
Ownwell’s Otero County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Otero County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Otero County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Otero County, Colorado
Property taxes in Otero County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Otero County is 0.47%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Otero County set these rates annually, and they can vary significantly between different areas within the county. Each year, Otero County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Otero County's effective property tax rate with other counties in Colorado and the national median. For comparison, the city of Swink has one of the higher property tax rates in Colorado at 0.73%, while the city of Model boasts one of the lowest at 0.42%. Analyzing how Otero County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Otero County Tax Rate
0.47%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Otero County, Colorado
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Cheraw | 0.27% | 0.41% | 0.53% | 0.54% | 1.16% |
| Fowler | 0.29% | 0.57% | 0.58% | 0.58% | 0.99% |
| La Junta | 0.23% | 0.45% | 0.47% | 0.47% | 0.47% |
| Manzanola | 0.28% | 0.37% | 0.56% | 0.56% | 0.86% |
| Model | 0.41% | 0.42% | 0.42% | 0.60% | 0.68% |
| Rocky Ford | 0.30% | 0.44% | 0.59% | 0.59% | 0.60% |
| Swink | 0.36% | 0.46% | 0.73% | 0.73% | 0.73% |
| Timpas | 0.20% | 0.20% | 0.20% | 0.20% | 0.20% |
Source: Ownwell
Property Tax Assessment Values Across Otero County, Colorado
In Otero County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Otero County Appraisal District. The assessed value, however, 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. Assessment notices in Otero County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Otero County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. In Otero County, the highest median tax bill is in Swink at $513, while the lowest is in Manzanola at $218. The median home price in the county is $57,973, with tax bills ranging from $146 at the 25th percentile to $887 at the 90th percentile.
Average Otero County Assessed Value
$57,973
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Otero County, Colorado
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Cheraw | $2,195 | $24,427 | $54,815 | $94,573 | $162,279 |
| Fowler | $23,811 | $36,867 | $65,488 | $103,230 | $168,310 |
| La Junta | $13,854 | $30,752 | $56,569 | $99,574 | $156,796 |
| Manzanola | $4,000 | $24,400 | $49,806 | $85,160 | $143,217 |
| Model | $25,142 | $53,188 | $98,880 | $183,730 | $256,121 |
| Rocky Ford | $18,333 | $31,844 | $56,369 | $95,052 | $146,087 |
| Swink | $21,223 | $44,309 | $91,870 | $140,929 | $225,409 |
| Timpas | $18,931 | $18,931 | $18,931 | $18,931 | $18,931 |
Source: Ownwell
Property Tax Bills Across Otero County, Colorado
In Otero County, CO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The property tax rate in this county is compared to the national median of 0.99%, giving homeowners a sense of how their local taxes stack up against the broader landscape. Several factors influence the final tax bill, including the home's assessed value, any applicable exemptions, and the specific tax rates set by local authorities. For instance, the median home price in Otero County is $57,973. Homeowners in this county can expect their annual property tax bills to vary widely. At the 25th percentile, the tax bill is around $146, while at the 75th percentile, it rises to approximately $484. Those in the 90th percentile may see tax bills as high as $887. The city of Swink has the highest median tax bill at $513, whereas Manzanola has the lowest at $218. These variations highlight how property taxes can significantly impact homeowners' finances depending on their property's assessed value and location within the county.
Average Otero County Tax Bill
$266
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690