Crestone, Colorado Property Taxes
The median property tax rate in Crestone, CO is 0.91%, slightly below the national median of 0.99% but significantly higher than the Colorado state median of 0.55%. With a median home value of $106,963 in Crestone, the typical annual property tax bill is $771, well below the national median of $2,690. Property taxes in Crestone are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Crestone's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Crestone 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
Crestone, 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 Crestone Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Crestone with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Crestone 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 Crestone, Colorado
Property taxes in Crestone, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Crestone is 0.91%, which is lower than the U.S. national median of 0.99%. Local government entities within Crestone set these rates annually, and they can vary significantly across different neighborhoods. Each year, Crestone 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 Crestone's effective property tax rate to other areas in Saguache County and the national median. For comparison, the zip code 81131 has the highest median property tax rate of 0.91%, while the same zip code 81131 also has the lowest median tax rate of 0.91%. Understanding how these cities compare with Crestone provides valuable insights into the varying tax landscape across Saguache County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Crestone Tax Rate
0.91%
Average Saguache County Tax Rate
0.66%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Crestone, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81131 | 0.52% | 0.66% | 0.91% | 2.80% | 3.82% |
Source: Ownwell
Property Tax Assessment Values Across Crestone, Colorado
In Crestone, 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 Saguache 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 Crestone, 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 Crestone helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Crestone is $106,963, with the highest and lowest median tax bills being $771.00 in the 81131 zip code.
Average Crestone Assessed Value
$106,963
Average Saguache County Assessed Value
$49,043
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Crestone, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81131 | $1,800 | $5,456 | $106,963 | $206,578 | $316,839 |
Source: Ownwell
Property Tax Bills Across Crestone, Colorado
In Crestone, located in Saguache County, CO, property tax bills are calculated based on the assessed value of a home, which represents a percentage of its market value. The median home price in this area is $106,963. Local tax rates are applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including local government budgets, school funding needs, and public services. Homeowners in Crestone can expect their tax bills to vary significantly. For example, tax bills at the 25th percentile are around $165, while those at the 75th percentile reach approximately $1,680. The tax bill at the 90th percentile can go as high as $2,523. These variations highlight the impact of property values and local tax rates on homeowners. Compared to the national median property tax rate of 0.99%, Crestone's property tax rates can lead to a wide range of tax bills, affecting homeowners differently based on their property's assessed value and local tax policies.
Average Crestone Tax Bill
$771
Average Saguache County Tax Bill
$305
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Crestone, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81131 | $68 | $165 | $771 | $1,680 | $2,523 |
Source: Ownwell