Manzanola, Colorado Property Taxes
The median property tax rate in Manzanola, CO is 0.56%, slightly higher than the Colorado state median of 0.55% but significantly lower than the national median of 0.99%. With a median home value of $49,806, the typical annual property tax bill in Manzanola is $218, well below the national median of $2,690. Property taxes here are calculated based on the assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Manzanola's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Manzanola or another part of Otero County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Manzanola, Colorado Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$1,100
Ownwell’s Manzanola Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Manzanola with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Manzanola 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 Manzanola, Colorado
Property taxes in Manzanola, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Manzanola is 0.56%, which is lower than the U.S. national median of 0.99%. Local government entities within Manzanola set these rates annually, and they can vary significantly across different neighborhoods. Each year, Manzanola 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 Manzanola's effective property tax rate to other areas in Otero County and the national median. For comparison, the zip code 81058 has both the highest and lowest median property tax rate of 0.56%. Understanding how these cities compare with Manzanola 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 Manzanola Tax Rate
0.56%
Average Otero County Tax Rate
0.47%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Manzanola, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81058 | 0.28% | 0.37% | 0.56% | 0.56% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Manzanola, Colorado
In Manzanola, 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 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 Manzanola, 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 Manzanola helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Manzanola, both standing at $218, are associated with the zip code 81058.
Average Manzanola Assessed Value
$49,806
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 Manzanola, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81058 | $4,000 | $24,400 | $49,806 | $85,160 | $143,217 |
Source: Ownwell
Property Tax Bills Across Manzanola, Colorado
In Manzanola, CO, property tax bills are calculated based on the assessed value of a home, which is determined by the Otero County Assessor's Office. The assessed value is a percentage of the market value of the property. For homeowners in Manzanola, the median home price stands at $49,806. Property tax rates are applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including local tax rates and any applicable exemptions. For example, tax bills in Manzanola can range significantly, with the 25th percentile at $99 and the 75th percentile at $426. At the 90th percentile, homeowners might see tax bills as high as $983. These variations can affect homeowners differently, depending on the assessed value of their property and any exemptions they may qualify for. Comparatively, the property tax rate in Manzanola is relatively low, especially when considering the national median property tax rate of 0.99%. This can make homeownership more affordable in this region.
Average Manzanola Tax Bill
$218
Average Otero County Tax Bill
$266
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Manzanola, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81058 | $22 | $99 | $218 | $426 | $983 |
Source: Ownwell