Rocky Ford, Colorado Property Taxes
The median property tax rate in Rocky Ford, CO is 0.59%, 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 $56,369 in Rocky Ford, the typical annual property tax bill is $276, which is well below the national median of $2,690. Property taxes in Rocky Ford are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Rocky Ford'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 Rocky Ford or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rocky Ford, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$333
$309
Ownwell’s Rocky Ford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rocky Ford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rocky Ford 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 Rocky Ford, Colorado
Property taxes in Rocky Ford, Colorado, play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Rocky Ford is 0.59%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Rocky Ford set these rates annually, and they can vary across different neighborhoods. Each year, Rocky Ford 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 Rocky Ford's effective property tax rate to other areas in Colorado and the national median. For comparison, the 81067 zip code has the highest median property tax rate of 0.59%, while the same zip code also has the lowest median tax rate of 0.59%. Understanding how these rates compare with Rocky Ford 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 Rocky Ford Tax Rate
0.59%
Average Otero County Tax Rate
0.47%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rocky Ford, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81067 | 0.30% | 0.44% | 0.59% | 0.59% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Rocky Ford, Colorado
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Rocky Ford, Colorado. 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 Rocky Ford, 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 Rocky Ford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median property tax bill in Rocky Ford is $276, with the highest and lowest median tax bills both occurring in the 81067 zip code.
Average Rocky Ford Assessed Value
$56,369
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 Rocky Ford, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81067 | $18,333 | $31,844 | $56,369 | $95,052 | $146,087 |
Source: Ownwell
Property Tax Bills Across Rocky Ford, Colorado
In Rocky Ford, located in Otero County, CO, property tax bills are calculated based on the assessed value of a home rather than its market value. The assessed value is typically a percentage of the market value, determined by local government assessors. For homeowners in Rocky Ford, the median home price is $56,369. Local tax rates are applied to this assessed value to determine the final tax bill. Factors influencing the tax bill include property characteristics, improvements, and local tax levies. For instance, the tax bill at the 25th percentile is $159, while at the 75th percentile, it is $484. The 90th percentile tax bill reaches $870, reflecting higher-value properties or those with significant improvements. Compared to the national median property tax rate of 0.99%, Rocky Ford's tax rates can be considered moderate. These property taxes fund essential local services such as schools, infrastructure, and emergency services, directly impacting homeowners' quality of life.
Average Rocky Ford Tax Bill
$276
Average Otero County Tax Bill
$266
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Rocky Ford, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81067 | $95 | $159 | $276 | $484 | $870 |
Source: Ownwell