La Junta, Otero County, Colorado Property Taxes
The median property tax rate in La Junta, CO is 0.47%, considerably lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in La Junta, the typical annual property tax bill reaches $239, well below the national median of $2,690. Property taxes in La Junta are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding La Junta'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 La Junta 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
La Junta, Otero County, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$266
$247
Ownwell’s LA JUNTA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LA JUNTA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LA JUNTA 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 La Junta, Otero County, Colorado
Property taxes in La Junta, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in La Junta is 0.47%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within La Junta set these rates annually, and they can vary significantly across different neighborhoods. Each year, La Junta 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 La Junta's effective property tax rate to other counties in Colorado and the national median. For comparison, the 81050 zip code has both the highest and lowest median property tax rate of 0.47%. Understanding how these cities compare with La Junta provides valuable insights into the varying tax landscape across Otero County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average La Junta Tax Rate
0.47%
Average Otero County Tax Rate
0.47%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across La Junta, Otero County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81050 | 0.23% | 0.45% | 0.47% | 0.47% | 0.47% |
Source: Ownwell
Property Tax Assessment Values Across La Junta, Otero County, Colorado
In LA JUNTA, 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 Otero 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 LA JUNTA, 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 LA JUNTA is $56,569, with tax bills ranging from $132 at the 25th percentile to $731 at the 90th percentile. The highest and lowest median tax bills are both $239, found in the 81050 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across La Junta, Otero County, Colorado
Source: Ownwell
$49,806
$71,015
$92,224
Average La Junta Assessed Value
$56,569
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 La Junta, Otero County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81050 | $13,854 | $30,752 | $56,569 | $99,574 | $156,796 |
Source: Ownwell
Property Tax Bills Across La Junta, Otero County, Colorado
In La Junta, located in Otero County, CO, property tax bills are calculated by multiplying the assessed value of a property by the local tax rate. The assessed value is determined by the county assessor and is typically a percentage of the property's market value. Several factors influence the tax bill, including property size, location, and any applicable exemptions. For instance, the median home price in La Junta is $56,569. Homeowners in La Junta experience varying tax bills, with the 25th percentile at $132 and the 75th percentile at $422, while the 90th percentile reaches up to $731. The highest median tax bill in the area is $239, which is also the lowest, indicating a consistent rate across different zip codes. This consistency provides homeowners with a predictable tax environment. Compared to the national median property tax rate of 0.99%, La Junta's property taxes offer a relatively affordable option for homeowners, making it an attractive location for those seeking lower property tax burdens.
Average La Junta Tax Bill
$239
Average Otero County Tax Bill
$266
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across La Junta, Otero County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81050 | $62 | $132 | $239 | $422 | $731 |
Source: Ownwell