Wray, Colorado Property Taxes
The median property tax rate in Wray, CO is 0.67%, slightly lower than the national median of 0.99% but higher than the Colorado state median of 0.55%. With a median home value of $121,310 in Wray, the typical annual property tax bill comes to $735, which is significantly below the national median of $2,690. Property taxes in Wray are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Navigating Wray's property tax system and leveraging available exemptions can result in substantial annual savings. Whether you reside in the heart of Wray or elsewhere in Yuma County, understanding the local property tax regulations is crucial for homeowners and real estate investors alike.
Last Updated June 14, 2024
Wray, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$813
Ownwell’s Wray Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wray with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wray 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 Wray, Colorado
Property taxes in Wray, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wray is 0.67%, lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Wray set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wray 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 Wray's effective property tax rate to other counties in Colorado and the national median. For comparison, the zip code 80758 has both the highest and lowest median property tax rate of 0.67%. Understanding how these areas compare with Wray 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 Wray Tax Rate
0.67%
Average Yuma County Tax Rate
0.67%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wray, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80758 | 0.34% | 0.55% | 0.67% | 0.67% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Wray, Colorado
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Wray, Colorado. 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 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 Wray, 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. For instance, the median home price in Wray is $121,310, with tax bills ranging from $381 at the 25th percentile to $2,150 at the 90th percentile. The zip code with the highest and lowest median tax bill is 80758, both at $735. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wray Assessed Value
$121,310
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 Wray, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80758 | $12,482 | $56,610 | $121,310 | $220,100 | $328,492 |
Source: Ownwell
Property Tax Bills Across Wray, Colorado
In Wray, located in Yuma County, Colorado, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Wray stands at $121,310. Property taxes are then determined by applying the local tax rate to this assessed value. Homeowners in Wray can expect their annual tax bills to vary significantly, with the 25th percentile at $381 and the 90th percentile reaching up to $2,150. Factors influencing these tax bills include the home's market value, the local tax rate, and any applicable exemptions or deductions. For instance, homes in the zip code 80758 have a median tax bill of $735. Compared to the national median property tax rate of 0.99%, Wray's property tax bills can be considered relatively moderate. These taxes impact homeowners by contributing to local services such as schools, infrastructure, and public safety, making it essential to understand how these amounts are calculated and how they can fluctuate.
Average Wray Tax Bill
$735
Average Yuma County Tax Bill
$763
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Wray, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80758 | $127 | $381 | $735 | $1,398 | $2,150 |
Source: Ownwell