Holyoke, Colorado Property Taxes
The median property tax rate in Holyoke, CO is 0.71%, 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 $144,136 in Holyoke, the typical annual property tax bill amounts to $1,018, significantly below the national median of $2,690. Property taxes in Holyoke are calculated based on the tax assessed value, which is generally lower than the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Holyoke'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 Holyoke 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
Holyoke, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$1,023
Ownwell’s Holyoke Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Holyoke with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Holyoke 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 Holyoke, Colorado
Property taxes in Holyoke, Colorado, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Holyoke is 0.71%, which is lower than the U.S. national median of 0.99%. Local government entities within Holyoke set these rates annually, and they can vary significantly across different neighborhoods. Each year, Holyoke 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 Holyoke's effective property tax rate to other counties in Colorado and the national median. For comparison, the zip code 80734 has both the highest and lowest median property tax rate of 0.71%. Understanding how these cities compare with Holyoke 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 Holyoke Tax Rate
0.71%
Average Phillips County Tax Rate
0.71%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Holyoke, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80734 | 0.61% | 0.71% | 0.71% | 0.71% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Holyoke, Colorado
In Holyoke, 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 Holyoke, 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 Holyoke helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Holyoke is $144,136, with tax bills ranging from $643 at the 25th percentile to $1,485 at the 75th percentile. The highest median tax bill in the region is $1,018 in the 80734 zip code.
Average Holyoke Assessed Value
$144,136
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 Holyoke, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80734 | $39,200 | $90,669 | $144,136 | $211,947 | $285,578 |
Source: Ownwell
Property Tax Bills Across Holyoke, Colorado
In Holyoke, Phillips County, CO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the property's market value. Homeowners in Holyoke typically see a range of property tax bills, with the 25th percentile paying around $643 and the 75th percentile facing bills up to $1,485. At the 90th percentile, tax bills can reach approximately $1,956. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and applicable exemptions. These rates are used to fund essential public services such as schools, infrastructure, and emergency services. With a median home price of $144,136, homeowners in Holyoke may find their property tax bills relatively manageable compared to the national median property tax rate of 0.99%. However, variations in assessed values and local tax rates can significantly impact individual tax liabilities, making it crucial for homeowners to understand how their bills are determined.
Average Holyoke Tax Bill
$1,018
Average Phillips County Tax Bill
$987
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Holyoke, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80734 | $263 | $643 | $1,018 | $1,485 | $1,956 |
Source: Ownwell