Cheraw, Otero County, Colorado Property Taxes
Last Updated March 1, 2025
Cheraw, Otero County, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.34%
Estimate Property Tax Bill
$238
$221
Ownwell’s Cheraw Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Cheraw with just two data points. By entering your property's estimated assessed value, our calculator applies Cheraw’s 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 Otero. For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Cheraw, Otero 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. Though votes and laws play a role in setting tax rates and budgets, this is essentially the annual process.
In Cheraw, located in Otero County, Colorado, the effective property tax rate is notably lower than both the state and national medians. With a median property tax rate of 0.53%, Cheraw offers a more affordable property tax burden compared to the national median rate of 1.02%. This can be a significant advantage for property owners seeking lower tax liabilities. The consistency of the tax rate across the county indicates a stable fiscal approach, providing predictability for homeowners. Prospective homeowners or investors in Cheraw can benefit from these lower rates, making it an attractive location for those looking to minimize their property tax expenses while enjoying the services provided by the local government.
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 Cheraw Tax Rate
0.34%
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 Otero County Tax Rate
0.26%
Median Effective Colorado Tax Rate
0.50%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Cheraw, Otero County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81030 | 0.13% | 0.20% | 0.34% | 0.51% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Cheraw, Otero County, Colorado
When examining property taxes in Cheraw, Colorado, 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 Otero 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 Otero 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 Cheraw. For example, the median home price in Cheraw is $54,815, with tax bills ranging significantly across the county. Zip code 81030 has the highest median home price at $54,815.
Property Tax Assessment Values Across Cheraw, Otero County, Colorado
Source: Ownwell
$67,905
$98,338
$128,770
Median Cheraw Market Value
$69,969
Median Otero County Market Value
$88,348
Median Colorado Market Value
$519,879
Median United States Market Value
$235,294
Property Tax Assessment Values Across Cheraw, Otero County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81030 | $2,075 | $28,540 | $69,969 | $143,930 | $204,279 |
Source: Ownwell
Property Tax Bills Across Cheraw, Otero County, Colorado
In Cheraw, located in Otero County, CO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. With a median home price of $54,815, the assessed value is determined by local tax authorities and is crucial in calculating the property tax bill. Factors such as property improvements, neighborhood developments, and local tax rates influence the assessed value. In Cheraw, the median property tax bill stands at $249, significantly lower than the national median of $2,400. This lower tax bill can be attributed to the area's relatively modest home values and tax rates.
Homeowners in Cheraw can benefit from understanding how their tax bills are determined and exploring potential savings. Ownwell offers expertise in property tax appeals and exemptions, helping homeowners ensure their properties are fairly assessed. By identifying discrepancies or qualifying exemptions, Ownwell can assist homeowners in lowering their property tax bills, providing peace of mind and financial relief in a region with a broad range of tax liabilities.
Median Cheraw Tax Bill
$145
Median Otero County Tax Bill
$177
Median Colorado Tax Bill
$2,732
Median United States Tax Bill
$2,400
Property Tax Bills Across Cheraw, Otero County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81030 | $13 | $76 | $145 | $492 | $1,547 |
Source: Ownwell