Mc Coy, Colorado Property Taxes
The median property tax rate in Mc Coy, CO is 0.40%, considerably lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Mc Coy, the typical annual property tax bill reaches $2,035, which is still below the national median of $2,690. Property taxes in Mc Coy are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Mc Coy'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 Mc Coy or another part of Routt County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mc Coy, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$1,986
Ownwell’s MC COY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MC COY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MC COY 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 Mc Coy, Colorado
Property taxes in MC COY, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in MC COY is 0.40%, which is significantly lower than both the Colorado state median of 0.51% and the U.S. national median of 0.99%. Local government entities within MC COY set these rates annually, and they can vary significantly across different neighborhoods. Each year, MC COY 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 MC COY's effective property tax rate to other counties in Colorado and the national median. For comparison, ZIP code 81641 in Rio Blanco County has the highest median property tax rate of 0.51%, while ZIP code 80820 in Park County has the lowest median tax rate of 0.30%. Understanding how these cities compare with MC COY provides valuable insights into the varying tax landscape across Routt County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mc Coy Tax Rate
0.40%
Average Routt County Tax Rate
0.38%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mc Coy, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80463 | 0.40% | 0.40% | 0.40% | 0.49% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Mc Coy, Colorado
In Mc Coy, 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 Routt 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 Mc Coy, 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. The highest median tax bill in Mc Coy is $2,035 in the 80463 zip code, while the lowest is also $2,035 in the same 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 Mc Coy Assessed Value
$496,620
Average Routt County Assessed Value
$507,780
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mc Coy, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80463 | $40,524 | $151,980 | $496,620 | $832,910 | $1,612,038 |
Source: Ownwell
Property Tax Bills Across Mc Coy, Colorado
In McCoy, located in Routt 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 home's market value, reflecting current real estate conditions. For instance, with a median home price of $496,620, the property tax rate is applied to determine the annual tax bill. Various factors influence the tax bill, including property size, location, and any applicable exemptions. Homeowners in McCoy can expect a wide range of property tax bills, from the 25th percentile at $807 to the 75th percentile at $4,253, with the 90th percentile reaching up to $6,786. This variation demonstrates how different factors can significantly impact the final tax amount. Compared to the national median property tax rate of 0.99%, McCoy's property tax rates can either be a burden or a relief for homeowners, depending on their property's assessed value and the applicable tax rate. Understanding these factors is crucial for homeowners to anticipate their annual financial obligations.
Average Mc Coy Tax Bill
$2,035
Average Routt County Tax Bill
$2,259
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Mc Coy, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80463 | $432 | $807 | $2,035 | $4,253 | $6,786 |
Source: Ownwell