81242 Property Tax Rate

Property owners in ZIP code 81242 (Poncha Springs, Colorado) pay a median of $1,496/year in property taxes on homes valued at $479,000. This translates to an effective tax rate of 0.31%, which is 25% below the Colorado state average of 0.42%.

The monthly property tax burden for a median-valued home in 81242 is approximately $125, which factors into escrow payments on mortgages. This ZIP code is located within Chaffee County. This is $386 less than the Colorado average of $1,882/year.

Compared to similar ZIP codes in Colorado, 81242 has higher property taxes. ZIP codes with similar effective rates include 80812 (0.31%) and 80652 (0.31%).

In Poncha Springs, property taxes represent approximately 1.6% of the median household income of $93,889, providing context for the relative tax burden on homeowners in this area.

Your Chaffee County property will be reassessed to current market value at sale under Colorado's current law, with no statewide cap on subsequent annual increases following the 2020 Gallagher repeal. If you are 65 or older with 10+ years of residence in Colorado, apply for the Senior Homestead Exemption with the Chaffee County Assessor to reduce your taxable value. Contact the Chaffee County Assessor immediately after closing to file your exemption claim and verify your assessment.