Slater, Colorado Property Taxes
The median property tax rate in Slater, Colorado is 0.35%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With a median home value of $399,150 in Slater, the typical annual property tax bill is $1,400, which is also below the national median of $2,690. Property taxes in Slater are calculated based on the tax assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Slater's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to considerable annual savings. Whether you're in the heart of Slater or another part of Routt County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Slater, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.35%
Estimate Property Tax Bill
$1,397
$1,296
Ownwell’s Slater Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Slater with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Slater 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 Slater, Colorado
Property taxes in Slater, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Slater is 0.35%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Slater set these rates annually, and they can vary significantly across different neighborhoods. Each year, Slater 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 Slater's effective property tax rate to other areas in Colorado and the national median. For comparison, the highest median property tax rate in Colorado is 0.66%, while the lowest median tax rate is 0.21%. Understanding how these areas compare with Slater 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 Slater Tax Rate
0.35%
Average Routt County Tax Rate
0.38%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Slater, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81653 | 0.35% | 0.35% | 0.35% | 0.35% | 0.35% |
Source: Ownwell
Property Tax Assessment Values Across Slater, Colorado
In Slater, 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 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 Slater, 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. Notably, the highest and lowest median tax bills in Slater are both $1,400, found in the 81653 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 Slater Assessed Value
$399,150
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 Slater, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81653 | $399,150 | $399,150 | $399,150 | $399,150 | $399,150 |
Source: Ownwell
Property Tax Bills Across Slater, Colorado
In Slater, CO, property tax bills are calculated based on the assessed value of a home, which is determined by the Routt County Assessor's Office. The assessed value is a percentage of the property's market value, reflecting its estimated worth in the current real estate market. Homeowners in Slater typically see a median tax bill of $1,400, which is consistent across various percentiles, including the 25th, 75th, and 90th. This uniformity suggests a relatively stable property tax environment within the city. Several factors influence the final tax bill, such as property size, location, and any improvements made to the property. Compared to the national median property tax rate of 0.99%, Slater's property tax rate appears to be in line with national trends, providing a balanced fiscal environment for homeowners. Understanding how these elements interact can help property owners better anticipate their tax obligations and manage their finances more effectively.
Average Slater Tax Bill
$1,400
Average Routt County Tax Bill
$2,259
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Slater, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81653 | $1,400 | $1,400 | $1,400 | $1,400 | $1,400 |
Source: Ownwell