Swink, Colorado Property Taxes
The median property tax rate in Swink, CO is 0.73%, which is lower than the national median of 0.99% but higher than the Colorado state median of 0.55%. With a median home value of $91,870 in Swink, the typical annual property tax bill is $513, well below the national median of $2,690. Property taxes in Swink are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Swink’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 Swink 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
Swink, 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 Swink Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Swink with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Swink 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 Swink, Colorado
Property taxes in Swink, Colorado, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Swink is 0.73%, which is below the U.S. national median of 0.99%. Local government entities within Swink set these rates annually, and they can vary significantly across different neighborhoods. Each year, Swink 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 Swink's effective property tax rate to other areas in Colorado and the national median. For comparison, the 81077 zip code has the highest median property tax rate of 0.73%, while the 81067 zip code has the lowest median tax rate of 0.45%. Understanding how these areas compare with Swink 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 Swink Tax Rate
0.73%
Average Otero County Tax Rate
0.47%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Swink, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81067 | 0.45% | 0.45% | 0.45% | 0.45% | 0.45% |
| 81077 | 0.36% | 0.46% | 0.73% | 0.73% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Swink, Colorado
In Swink, 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's Office 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 Swink, 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 Swink helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $513.00, observed in the zip code 81077.
Average Swink Assessed Value
$91,870
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 Swink, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81067 | $12,647 | $12,647 | $12,647 | $12,647 | $12,647 |
| 81077 | $21,743 | $45,468 | $92,224 | $141,004 | $226,028 |
Source: Ownwell
Property Tax Bills Across Swink, Colorado
Property tax bills in Swink, located in Otero County, CO, are calculated based on the assessed value of a property, which is derived from the market value. The median home price in Swink is $91,870. The local tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including property location, size, and any applicable exemptions or deductions. Homeowners in Swink can expect their tax bills to vary; the 25th percentile tax bill is around $270, while the 75th percentile tax bill reaches $960. For those in the 90th percentile, the tax bill can go up to $1,800. Compared to the national median property tax rate of 0.99%, Swink offers relatively affordable property taxes, which can be a significant factor for potential homeowners considering moving to the area. Understanding these details helps homeowners budget more effectively and plan for their financial future.
Average Swink Tax Bill
$513
Average Otero County Tax Bill
$266
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Swink, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81067 | $58 | $58 | $58 | $58 | $58 |
| 81077 | $119 | $272 | $513 | $961 | $1,802 |
Source: Ownwell