Colorado City, Mitchell County, Texas Property Taxes
Median Colorado City, TX effective property tax rate: 1.90%, significantly higher than the national median of 1.02%, but lower than the Texas state median of 1.67%.
Median Colorado City, TX home value: $57,363
Median annual Colorado City, TX tax bill: $1,114, $1,286 lower than the national median property tax bill of $2,400.
How are property taxes in Mitchell County calculated?
Property taxes in Colorado City, TX are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Colorado City’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Colorado City, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Colorado City, Mitchell County, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.9%
Estimate Property Tax Bill
$1,090
$1,011
Property Tax Rates Across Colorado City, Mitchell County, Texas
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Colorado City Tax Rate
1.90%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Mitchell County Tax Rate
1.88%
Median Effective Texas Tax Rate
1.67%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Colorado City, Mitchell County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79512 | 1.08% | 1.46% | 1.90% | 2.85% | 2.91% |
Source: Ownwell
Property Tax Assessment Values Across Colorado City, Mitchell County, Texas
When examining property taxes in Colorado City, TX, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Mitchell County Appraisal District estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Mitchell County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Colorado City.
For example, the median home price in Colorado City is $57,363, with tax bills ranging significantly across the county. Zip code 79512 has the highest median home price at $57,363.
Property Tax Assessment Values Across Colorado City, Mitchell County, Texas
Source: Ownwell
$52,345
$54,854
$57,363
Median Colorado City Market Value
$57,363
Median Mitchell County Market Value
$57,050
Median Texas Market Value
$247,950
Median United States Market Value
$235,294
Property Tax Assessment Values Across Colorado City, Mitchell County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79512 | $15,322 | $32,692 | $57,363 | $102,307 | $184,169 |
Source: Ownwell
Property Tax Bills Across Colorado City, Mitchell County, Texas
In Colorado City, located in Mitchell County, TX, property tax bills are calculated based on the assessed value of a home. With a median home price of $57,363, the tax bills vary significantly across different percentiles. For instance, the 25th percentile tax bill is $591, while it climbs to $1,894 at the 75th percentile, and reaches $3,268 at the 90th percentile. These figures reflect the local property tax rate and the assessed value, which together determine the final tax bill. Homeowners in this region face tax bills that can fluctuate widely, impacting their annual financial planning.
Ownwell offers a solution to mitigate these costs by providing property tax appeal and exemption services. By working to lower the assessed value of a property or securing exemptions, Ownwell helps homeowners reduce their tax liabilities. This service can be especially beneficial in Mitchell County, where the median tax bill is $1,114, allowing homeowners to potentially save a significant amount annually compared to the national median property tax bill of $2,400.
Median Colorado City Tax Bill
$1,114
Median Mitchell County Tax Bill
$1,077
Median Texas Tax Bill
$3,971
Median United States Tax Bill
$2,400
Property Tax Bills Across Colorado City, Mitchell County, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79512 | $282 | $591 | $1,114 | $1,894 | $3,268 |
Source: Ownwell