Yuma, Colorado Property Taxes
The median property tax rate in Yuma, CO is 0.71%, which is lower than the national median of 0.99% but higher than the Colorado state median of 0.55%. With the median home value in Yuma at $120,990, the typical annual property tax bill is $831, significantly below the national median of $2,690. Property taxes in Yuma are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Yuma'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 Yuma or another part of the county, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Yuma, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$859
Ownwell’s Yuma Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Yuma with just two data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Yuma to provide an estimate of your property tax bill. This valuable resource helps you understand your potential tax liabilities. For those interested in more detailed trends on a neighborhood level, additional localized information is available below. The assessed value of your property is determined by the county for tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Yuma, Colorado
Property taxes in Yuma, Colorado, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Yuma is 0.71%, which is lower than the U.S. national median of 0.99%. Local government entities within Yuma set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yuma 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 Yuma's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80759 zip code has the same median property tax rate of 0.71%. Understanding how these areas compare with Yuma 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 Yuma Tax Rate
0.71%
Average Yuma County Tax Rate
0.67%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Yuma, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80759 | 0.36% | 0.52% | 0.71% | 0.71% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Yuma, Colorado
In Yuma, 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 Yuma, 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 Yuma helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Yuma are both $831.00, found in the 80759 zip code.
Average Yuma Assessed Value
$120,990
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 Yuma, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80759 | $9,750 | $43,730 | $120,990 | $197,645 | $305,190 |
Source: Ownwell
Property Tax Bills Across Yuma, Colorado
In Yuma, CO, 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 Yuma is $120,990. Factors such as property size, location, and improvements can influence the assessed value. Tax rates are then applied to this assessed value to determine the final tax bill. For homeowners in Yuma, the property tax bill can vary significantly. At the 25th percentile, the tax bill is around $412, while at the 75th percentile, it rises to approximately $1,318. The 90th percentile sees tax bills as high as $2,097. The median property tax rate in Yuma is 0.69%, which is below the national median of 0.99%. This relatively lower tax rate can be beneficial for homeowners, making it more affordable to own property in Yuma compared to regions with higher tax rates. However, it is essential for homeowners to understand these factors to manage their financial planning effectively.
Average Yuma Tax Bill
$831
Average Yuma County Tax Bill
$763
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Yuma, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80759 | $89 | $412 | $831 | $1,318 | $2,097 |
Source: Ownwell