Colorado City, Colorado Property Taxes
The median property tax rate in Colorado City, CO is 0.80%, which is lower than the national median of 0.99% but higher than the Colorado state median of 0.55%. With the median home value in Colorado City, the typical annual property tax bill reaches $1,276, significantly below the national median of $2,690. Property taxes in Colorado City are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Colorado City'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 Colorado City or another part of Pueblo County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Colorado City, 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 Colorado City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Colorado City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Colorado City 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 Colorado City, Colorado
Property taxes in Colorado City, Colorado, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Colorado City is 0.80%, lower than both the Colorado state median of 0.55% and the U.S. national median of 0.99%. Local government entities within Colorado City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Colorado City 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 Colorado City's effective property tax rate to other counties in Colorado and the national median. For comparison, the 81019 zip code has the highest median property tax rate of 0.80%, while the 81069 zip code has the lowest median tax rate of 0.67%. Understanding how these cities compare with Colorado City provides valuable insights into the varying tax landscape across Pueblo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Colorado City Tax Rate
0.80%
Average Pueblo County Tax Rate
0.69%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Colorado City, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81019 | 0.42% | 0.79% | 0.80% | 0.80% | 0.80% |
| 81069 | 0.67% | 0.67% | 0.67% | 0.67% | 0.67% |
Source: Ownwell
Property Tax Assessment Values Across Colorado City, Colorado
In Colorado City, 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 Pueblo 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 Colorado City, 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 the area is $183,263, with tax bills ranging from $664 at the 25th percentile to $2,573 at the 90th percentile. The highest and lowest median tax bills are both $1,276 in the 81019 zip code. 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 Colorado City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Colorado City, Colorado
Source: Ownwell
$8,050
$552,462
$1,096,874
Average Colorado City Assessed Value
$183,263
Average Pueblo County Assessed Value
$185,177
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Colorado City, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81019 | $26,250 | $98,586 | $183,338 | $249,600 | $333,495 |
| 81069 | $8,050 | $8,050 | $8,050 | $8,050 | $8,050 |
Source: Ownwell
Property Tax Bills Across Colorado City, Colorado
In Colorado City, CO, property tax bills are calculated based on the assessed value of the home and the local tax rate set by Pueblo County. The assessed value is determined by the county assessor and is typically a percentage of the property's market value. For example, with a median home price of $183,263, the assessed value plays a crucial role in determining the final tax bill. Several factors influence the property tax bill, including the property's location, size, and any applicable exemptions. Homeowners in Colorado City might see tax bills ranging from the 25th percentile at $664 to the 75th percentile at $1,893, with the 90th percentile reaching up to $2,573. These variations reflect differences in property values and applicable tax rates within the region. Understanding how property taxes are calculated can help homeowners budget effectively and anticipate their annual expenses. With the national median property tax rate at 0.99%, Colorado City's tax rates provide a comparative perspective for homeowners evaluating their financial commitments.
Average Colorado City Tax Bill
$1,276
Average Pueblo County Tax Bill
$1,150
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Colorado City, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81019 | $208 | $665 | $1,276 | $1,894 | $2,574 |
| 81069 | $54 | $54 | $54 | $54 | $54 |
Source: Ownwell