La Jara, Colorado Property Taxes
The median property tax rate in LA JARA, CO is 0.54%, slightly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in LA JARA at $430,616, the typical annual property tax bill is $2,557, just under the national median of $2,690. Property taxes in LA JARA are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding LA JARA'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 LA JARA 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
La Jara, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$2,325
$2,158
Ownwell’s LA JARA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LA JARA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LA JARA 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 La Jara, Colorado
Property taxes in LA JARA, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in LA JARA is 0.54%, which is lower than the Colorado state median and the U.S. national median of 0.99%. Local government entities within LA JARA set these rates annually, and they can vary significantly across different neighborhoods. Each year, LA JARA 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 LA JARA's effective property tax rate to other counties in Colorado and the national median. For comparison, the zip code 81140 has both the highest and lowest median property tax rate of 0.54%. Understanding how these cities compare with LA JARA provides valuable insights into the varying tax landscape across Rio Grande County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average La Jara Tax Rate
0.54%
Average Rio Grande County Tax Rate
0.45%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across La Jara, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81140 | 0.45% | 0.45% | 0.54% | 1.04% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across La Jara, Colorado
In LA JARA, 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 Rio Grande 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 LA JARA, 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 LA JARA helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price is $430,616, with the 25th percentile tax bill at $1,765 and the 75th percentile tax bill at $4,522. The highest and lowest median tax bill in the area is $2,557 for zip code 81140.
Average La Jara Assessed Value
$430,616
Average Rio Grande County Assessed Value
$142,738
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across La Jara, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81140 | $236,224 | $339,678 | $430,616 | $467,072 | $472,462 |
Source: Ownwell
Property Tax Bills Across La Jara, Colorado
In La Jara, Rio Grande County, CO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in this area is $430,616. The local tax rate is applied to this assessed value to determine the annual property tax bill. Factors such as property location, improvements, and local levies influence the final amount due. For homeowners in La Jara, the property tax bill varies widely. At the 25th percentile, homeowners pay around $1,765 annually, while those at the 75th percentile see bills closer to $4,522. The highest tax bills, in the 90th percentile, can reach up to $7,243. Comparatively, the national median property tax rate is 0.99%, making La Jara's tax burdens relatively moderate. These taxes fund essential community services like schools, public safety, and infrastructure, directly impacting the quality of life for residents.
Average La Jara Tax Bill
$2,557
Average Rio Grande County Tax Bill
$659
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across La Jara, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81140 | $1,157 | $1,765 | $2,557 | $4,522 | $7,243 |
Source: Ownwell