Olney Springs, Crowley County, Colorado Property Taxes

Name: Property Tax Bills Across Olney Springs, Crowley County, Colorado
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median OLNEY SPRINGS, CO effective property tax rate: 0.55%, significantly lower than the national median of 1.02%, and higher than the Colorado state median of 0.50%.
Median OLNEY SPRINGS, CO home value: $39,403
Median annual OLNEY SPRINGS, CO tax bill: $243, $2,157 lower than the national median property tax bill of $2,400.

How are property taxes in Crowley County calculated?

Property taxes in OLNEY SPRINGS, CO 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 OLNEY SPRINGS's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in OLNEY SPRINGS, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Olney Springs, Crowley County, Colorado Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.55%

Estimate Property Tax Bill

$217

$201

Ownwell’s Olney Springs Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Olney Springs with just two data points. By entering your property's estimated assessed value, our calculator applies Olney Springs’ median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Crowley County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Olney Springs, Crowley County, Colorado

Local government entities set tax rates, which can vary widely within a state. This is because each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. In Olney Springs, located in Crowley County, Colorado, the effective property tax rate is notably lower than the national median of 1.02%. This means that property owners in Olney Springs benefit from relatively lower property tax bills compared to many other regions in the U.S. This lower tax rate can be appealing for those looking to purchase property in areas with reduced tax burdens. Comparing Olney Springs’ effective property tax rate to other cities within Colorado, it stands out for its affordability. This can be a significant factor for potential homeowners and investors considering where to buy property.

Property Tax Rates Across Olney Springs, Crowley County, Colorado

Source: Ownwell

0.50%

0.58%

0.66%

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 Olney Springs Tax Rate

0.55%

Median Effective Crowley County Tax Rate

0.61%

Median Effective Colorado Tax Rate

0.50%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Olney Springs, Crowley County, Colorado

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
81062	0.33%	0.48%	0.55%	0.58%	0.87%

Source: Ownwell

Property Tax Assessment Values Across Olney Springs, Crowley County, Colorado

When examining property taxes in Olney Springs, CO, 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 Crowley County Assessor's Office 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 Crowley 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 Olney Springs. For example, the median home price in Olney Springs is $39,403, with tax bills ranging significantly across the county. Zip code 81062 has the highest median home price at $39,403.

Property Tax Assessment Values Across Olney Springs, Crowley County, Colorado

Source: Ownwell

$18,032

$48,338

$78,643

Median Olney Springs Market Value

$39,403

Median Crowley County Market Value

$38,990

Median Colorado Market Value

$519,879

Median United States Market Value

$235,294

Property Tax Assessment Values Across Olney Springs, Crowley County, Colorado

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
81062	$12,764	$14,925	$39,403	$105,857	$189,562

Source: Ownwell

Property Tax Bills Across Olney Springs, Crowley County, Colorado

Property tax bills in Olney Springs, located in Crowley County, CO, are calculated by applying the local property tax rate to the assessed value of a home. The assessed value is determined based on a percentage of the property's market value. Homeowners in Olney Springs face a median property tax bill of $243, significantly lower than the national median of $2400. This low tax bill can be attributed to the area's median home price of $39,403. Factors influencing property tax bills include changes in property values and local government budgets. Despite the relatively low tax bills, homeowners can still benefit from ensuring their assessments are accurate. Ownwell assists homeowners by reviewing property assessments and identifying opportunities for tax savings. By appealing incorrect assessments and applying for exemptions, Ownwell helps reduce tax burdens, ensuring homeowners only pay their fair share. This service is especially valuable in maintaining affordable living costs, even in areas with lower property tax rates.

Property Tax Bills Across Olney Springs, Crowley County, Colorado

Source: Ownwell

$131

$250

$369

Median Olney Springs Tax Bill

$243

Median Crowley County Tax Bill

$254

Median Colorado Tax Bill

$2,732

Median United States Tax Bill

$2,400

Property Tax Bills Across Olney Springs, Crowley County, Colorado

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
81062	$50	$82	$243	$623	$1,186

Source: Ownwell