Cope, Colorado Property Taxes
The median property tax rate in COPE, CO is 2.25%, significantly higher than both the national median of 0.99% and Colorado's state median of 0.55%. With a median home value of $192,765 in COPE, the typical annual property tax bill reaches $3,794, far exceeding the national median of $2,690. Property taxes in COPE 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 COPE'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 COPE 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
Cope, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.25%
Estimate Property Tax Bill
$4,337
$4,025
Ownwell’s COPE Property Tax Bill Calculator assists homeowners, real estate investors, or potential buyers in estimating their annual property taxes in COPE using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in COPE to estimate your property tax bill. This invaluable tool helps you comprehend potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Cope, Colorado
Property taxes in COPE, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in COPE is 2.25%, significantly higher than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within COPE set these rates annually, and they can vary significantly across different neighborhoods. Each year, COPE 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 COPE's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80812 zip code has both the highest and lowest median property tax rate of 2.25%. Understanding how these cities compare with COPE provides valuable insights into the varying tax landscape across Yuma County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cope Tax Rate
2.25%
Average Yuma County Tax Rate
0.67%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cope, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80812 | 0.91% | 1.42% | 2.25% | 3.08% | 3.58% |
Source: Ownwell
Property Tax Assessment Values Across Cope, Colorado
In COPE, 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 Yuma 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 COPE, 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 COPE helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 80812 has both the highest and lowest median tax bills, amounting to $3,794.
Average Cope Assessed Value
$192,765
Average Yuma County Assessed Value
$112,640
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cope, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80812 | $166,745 | $176,502 | $192,765 | $209,028 | $218,785 |
Source: Ownwell
Property Tax Bills Across Cope, Colorado
Property tax bills in COPE, located in Yuma County, Colorado, are calculated based on the assessed value of a property, which is derived from its market value. The median home price in COPE is $192,765. Property tax rates in this region are influenced by various factors including local government budgets, school funding, and infrastructure needs. Once the assessed value is determined, it is multiplied by the local tax rate to calculate the annual tax bill. In COPE, the 25th percentile tax bill is $2,551, while the 75th percentile tax bill is $5,036, and the 90th percentile reaches $5,782. These figures demonstrate a range of tax burdens depending on property values and specific assessments. The highest and lowest median tax bills in the county are both $3,794, found in the 80812 zip code. For homeowners, understanding these factors is crucial as property taxes can significantly impact annual expenses. Properly managing and appealing assessments can lead to substantial savings, making it essential to stay informed about local tax policies and market trends.
Average Cope Tax Bill
$3,794
Average Yuma County Tax Bill
$763
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Cope, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80812 | $1,806 | $2,551 | $3,794 | $5,036 | $5,782 |
Source: Ownwell