Wetmore, Colorado Property Taxes
The median property tax rate in Wetmore, CO is 0.55%, aligning with the Colorado state median but significantly lower than the national median of 0.99%. With the median home value in Wetmore at $340,504, the typical annual property tax bill amounts to $1,879, which is substantially below the national median of $2,690. Property taxes in Wetmore are calculated based on the tax assessed value, which often falls below the market value due to exemptions like those for primary residences and agricultural properties. Understanding Wetmore'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 Wetmore or another part of Pueblo County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wetmore, 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 Wetmore Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wetmore with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wetmore 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 Wetmore, Colorado
Property taxes in Wetmore, Colorado, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Wetmore is 0.55%, which is below the U.S. national median of 0.99%. Local government entities within Wetmore set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wetmore 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 Wetmore's effective property tax rate to other counties in Colorado and the national median. For comparison, the zip code 81253 has both the highest and lowest median property tax rate of 0.55%. Understanding how these cities compare with Wetmore 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 Wetmore Tax Rate
0.55%
Average Pueblo County Tax Rate
0.69%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wetmore, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81253 | 0.55% | 0.55% | 0.55% | 0.55% | 0.55% |
Source: Ownwell
Property Tax Assessment Values Across Wetmore, Colorado
In Wetmore, 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 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 Wetmore, 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 Wetmore helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Wetmore is $1879 in the 81253 zip code, which is also the lowest median tax bill, providing a consistent benchmark for property owners.
Average Wetmore Assessed Value
$340,504
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 Wetmore, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81253 | $277,760 | $301,289 | $340,504 | $379,718 | $403,247 |
Source: Ownwell
Property Tax Bills Across Wetmore, Colorado
In Wetmore, Pueblo County, CO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor's office. The assessed value is a percentage of the home's market value. For instance, with a median home price of $340,504, the assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. Homeowners in Wetmore can expect tax bills to vary significantly. For example, the 25th percentile tax bill is $1,661, while the 75th percentile reaches $2,097, and the 90th percentile peaks at $2,228. The highest and lowest median tax bills in the area both stand at $1,879, reflecting a uniform rate across different properties. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting homeowners by contributing to the community's overall quality of life. Understanding how these taxes are calculated can help residents better manage their financial planning and obligations.
Average Wetmore Tax Bill
$1,879
Average Pueblo County Tax Bill
$1,150
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Wetmore, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81253 | $1,530 | $1,661 | $1,879 | $2,097 | $2,228 |
Source: Ownwell