Toponas, Colorado Property Taxes
The median property tax rate in Toponas, CO is 0.54%, slightly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With a median home value of $230,650 in Toponas, the typical annual property tax bill is $1,996, which is below the national median of $2,690. Property taxes in Toponas are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Toponas'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 Toponas 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
Toponas, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$1,246
Ownwell’s Toponas Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Toponas with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Toponas 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 Toponas, Colorado
Property taxes in Toponas, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Toponas is 0.54%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Toponas set these rates annually, and they can vary significantly across different neighborhoods. Each year, Toponas 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 Toponas's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80479 zip code has both the highest and lowest median property tax rate of 0.54%. Understanding how these areas compare with Toponas 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 Toponas Tax Rate
0.54%
Average Routt County Tax Rate
0.38%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Toponas, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80479 | 0.44% | 0.53% | 0.54% | 0.93% | 1.29% |
Source: Ownwell
Property Tax Assessment Values Across Toponas, Colorado
In Toponas, 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's Office 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 Toponas, 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 Toponas helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in the area is the same at $1,996, found in zip code 80479.
Average Toponas Assessed Value
$230,650
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 Toponas, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80479 | $71,658 | $108,475 | $230,650 | $488,925 | $1,098,066 |
Source: Ownwell
Property Tax Bills Across Toponas, Colorado
In Toponas, located in Routt County, CO, property tax bills are determined by several key factors. The process begins with the county assessor determining the assessed value of a property, which is a percentage of its market value. Once the assessed value is established, local tax rates, or mill levies, are applied to calculate the tax bill. These rates are set by various taxing entities like school districts, municipalities, and other local authorities. Homeowners in Toponas face a range of property tax bills. For instance, the 25th percentile tax bill is around $1,012, while the 75th percentile reaches up to $3,569, and the 90th percentile can be as high as $7,508. The median home price in the area is $230,650, which helps contextualize these figures. Compared to the national median property tax rate of 0.99%, Toponas' tax bills can vary significantly, impacting homeowners differently based on their property's assessed value and the applicable local tax rates.
Average Toponas Tax Bill
$1,996
Average Routt County Tax Bill
$2,259
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Toponas, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80479 | $666 | $1,012 | $1,996 | $3,569 | $7,508 |
Source: Ownwell