South Fork, Mineral County, Colorado Property Taxes
Median South Fork, CO effective property tax rate: 0.48%, significantly lower than the national median of 1.02%, but lower than the Colorado state median of 0.55%.
Median South Fork, CO home value: $223,611
Median annual South Fork, CO tax bill: $1,046, $1,354 lower than the national median property tax bill of $2,400.
How are property taxes in Mineral County calculated?
Property taxes in South Fork, 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 South Fork’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in South Fork, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
South Fork, Mineral County, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.37%
Estimate Property Tax Bill
$1,033
$959
Property Tax Rates Across South Fork, Mineral County, Colorado
Local government entities set tax rates, which can vary widely within a state. Annually, each county 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.
Below, you can compare South Fork’s effective property tax rate to other cities in Colorado and the median property tax rates in Colorado and the U.S. South Fork, located in Mineral County, has a median property tax rate of 0.48%. This is significantly lower than the national median property tax rate of 1.02%. Colorado's property tax rates can vary, but South Fork's rate is on the lower end of the spectrum, offering potential savings for property owners. The highest and lowest median tax rates in the area are also 0.48%, indicating a consistent tax environment within the zip code 81154. Understanding these rates can help property owners make informed decisions and potentially save on property taxes.
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 South Fork Tax Rate
0.37%
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 Mineral County Tax Rate
0.38%
Median Effective Colorado Tax Rate
0.50%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across South Fork, Mineral County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81154 | 0.14% | 0.29% | 0.37% | 0.39% | 0.41% |
Source: Ownwell
Property Tax Assessment Values Across South Fork, Mineral County, Colorado
When examining property taxes in South Fork, 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 Mineral 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 Mineral 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 South Fork. For example, the median home price in South Fork is $223,611, with tax bills ranging significantly across the county. 81154 has the highest median home price at $223,611.
Property Tax Assessment Values Across South Fork, Mineral County, Colorado
Source: Ownwell
$263,476
$271,381
$279,285
Median South Fork Market Value
$279,285
Median Mineral County Market Value
$263,792
Median Colorado Market Value
$519,879
Median United States Market Value
$235,294
Property Tax Assessment Values Across South Fork, Mineral County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81154 | $60,847 | $151,762 | $279,285 | $388,364 | $491,344 |
Source: Ownwell
Property Tax Bills Across South Fork, Mineral County, Colorado
Median South Fork Tax Bill
$992
Median Mineral County Tax Bill
$1,044
Median Colorado Tax Bill
$2,732
Median United States Tax Bill
$2,400
Property Tax Bills Across South Fork, Mineral County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81154 | $68 | $443 | $992 | $1,526 | $1,999 |
Source: Ownwell