Holly, Colorado Property Taxes
The median property tax rate in Holly, CO is 0.75%, which is lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Holly, the typical annual property tax bill is $232, significantly below the national median of $2,690. Property taxes in Holly are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Holly'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 Holly 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
Holly, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$253
$235
Ownwell’s Holly Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Holly with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Holly 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 Holly, Colorado
Property taxes in Holly, Colorado, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Holly is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Holly set these rates annually, and they can vary significantly across different neighborhoods. Each year, Holly 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 Holly's effective property tax rate to other areas in Colorado and the national median. For comparison, the 81047 zip code has both the highest and lowest median property tax rate of 0.75%. Understanding how these areas compare with Holly provides valuable insights into the varying tax landscape across Prowers County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Holly Tax Rate
0.75%
Average Prowers County Tax Rate
0.49%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Holly, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81047 | 0.41% | 0.54% | 0.75% | 0.91% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Holly, Colorado
In Holly, 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 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 Holly, 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. Holly has a median home price of $33,732. The 25th percentile tax bill is $81, while the 75th percentile tax bill is $631. The highest and lowest median tax bills are both $232, located in the 81047 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Holly Assessed Value
$33,732
Average Prowers County Assessed Value
$51,952
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Holly, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81047 | $2,934 | $11,824 | $33,732 | $92,670 | $155,031 |
Source: Ownwell
Property Tax Bills Across Holly, Colorado
In Holly, located in Prowers County, CO, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine your annual property tax bill. Factors such as the market value of your property, any applicable exemptions, and local tax levies all play a role in this calculation. For homeowners in Holly, the median home price stands at $33,732, with property tax bills varying significantly. At the 25th percentile, homeowners can expect to pay around $81, while those at the 75th percentile face bills closer to $631. The top 10% of property tax bills can reach up to $1,217. Compared to the national median property tax rate of 0.99%, Holly’s rates reflect the local economic conditions and property values, impacting homeowners differently based on their property's assessed value and applicable exemptions.
Average Holly Tax Bill
$232
Average Prowers County Tax Bill
$253
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Holly, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81047 | $25 | $81 | $232 | $631 | $1,217 |
Source: Ownwell