81062 Property Tax Rate

Property owners in ZIP code 81062 (Olney Springs, Colorado) pay a median of $651/year in property taxes on homes valued at $133,000. This translates to an effective tax rate of 0.49%, which is 18% above the Colorado state average of 0.42%.

The monthly property tax burden for a median-valued home in 81062 is approximately $54, which factors into escrow payments on mortgages. This ZIP code is located within Crowley County. This is $1,231 less than the Colorado average of $1,882/year.

Compared to similar ZIP codes in Colorado, 81062 has lower property taxes. ZIP codes with similar effective rates include 80701 (0.49%) and 80521 (0.49%).

In Olney Springs, property taxes represent approximately 1.4% of the median household income of $46,518, providing context for the relative tax burden on homeowners in this area.

Post-Gallagher repeal, Crowley County assesses residential property at market value with no rate cap, meaning your home is subject to annual revaluation without preferential treatment. Crowley County residents 65+ with 10+ consecutive years of continuous residence can claim the Senior Homestead Exemption, reducing assessed value and annual property taxes — submit your claim to the Crowley County Assessor when you meet the eligibility requirements. Contact the Crowley County Assessor to verify your initial assessment and confirm the exemption filing deadline for your valuation year.