Haxtun, Colorado Property Taxes
The median property tax rate in Haxtun, CO is 0.74%, 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 $136,616 in Haxtun, the typical annual property tax bill amounts to $1,006, falling below the national median of $2,690. Property taxes in Haxtun are calculated based on the tax assessed value, which is usually lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Haxtun'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 Haxtun or another part of Phillips County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Haxtun, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$1,011
$938
Ownwell’s Haxtun Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Haxtun with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Haxtun 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 Haxtun, Colorado
Property taxes in Haxtun, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Haxtun is 0.74%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Haxtun set these rates annually, and they can vary significantly across different neighborhoods. Each year, Haxtun 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 Haxtun's effective property tax rate to other counties in Colorado and the national median. For comparison, the highest median property tax rate in Phillips County is 0.74%, while the lowest median tax rate is also 0.74%. Understanding how these cities compare with Haxtun provides valuable insights into the varying tax landscape across Phillips County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Haxtun Tax Rate
0.74%
Average Phillips County Tax Rate
0.71%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Haxtun, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80731 | 0.61% | 0.74% | 0.74% | 0.74% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Haxtun, Colorado
In Haxtun, 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 Phillips 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 Haxtun, 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. The median home price in Haxtun is $136,616, with tax bills ranging from $643 at the 25th percentile to $1,950 at the 90th percentile. 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 Haxtun helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Haxtun Assessed Value
$136,616
Average Phillips County Assessed Value
$138,922
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Haxtun, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80731 | $48,502 | $88,946 | $136,616 | $208,828 | $286,368 |
Source: Ownwell
Property Tax Bills Across Haxtun, Colorado
In Haxtun, property tax bills are calculated based on the assessed value of your property and the local tax rate. The assessed value is a percentage of the market value of your home, which in Haxtun has a median home price of $136,616. Local authorities then apply the tax rate to this assessed value to determine your annual tax bill. Several factors influence your property tax bill, including property size, location, and any applicable exemptions. For homeowners in Haxtun, the tax burden can vary significantly. The 25th percentile tax bill is $643, while the 75th percentile reaches $1,512, and the 90th percentile goes up to $1,950. Compared to the national median property tax rate of 0.99%, Haxtun's property tax rate offers a range of affordability. Understanding these factors can help homeowners anticipate their property tax obligations and plan accordingly.
Average Haxtun Tax Bill
$1,006
Average Phillips County Tax Bill
$987
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Haxtun, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80731 | $362 | $643 | $1,006 | $1,512 | $1,950 |
Source: Ownwell