Eastlake, Colorado Property Taxes
The median property tax rate in Eastlake, CO is 0.53%, which is lower than both the national median of 0.99% and the Colorado state median of 0.55%. With a median home value of $447,000 in Eastlake, the typical annual property tax bill amounts to $2,221, falling below the national median of $2,690. Property taxes in Eastlake are calculated based on the assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. By understanding Eastlake's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you're nestled in the heart of Eastlake or another part of Adams County, gaining insights into the local property tax system will provide substantial benefits.
Last Updated June 14, 2024
Eastlake, Colorado Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$1,100
Ownwell’s Eastlake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eastlake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eastlake to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Eastlake, Colorado
Property taxes in Eastlake, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eastlake is 0.53%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Eastlake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eastlake estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Eastlake's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80614 zip code has the highest median property tax rate of 0.53%, while the same zip code also has the lowest median tax rate of 0.53%. Understanding how these cities compare with Eastlake provides valuable insights into the varying tax landscape across Adams County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eastlake Tax Rate
0.53%
Average Adams County Tax Rate
0.57%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eastlake, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80614 | 0.40% | 0.47% | 0.53% | 0.58% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Eastlake, Colorado
In Eastlake, Colorado, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Adams County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Eastlake, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The median home price in Eastlake is $447,000, with tax bills ranging from $2,059 at the 25th percentile to $2,714 at the 90th percentile. The zip code with both the highest and lowest median tax bills is 80614, with a median tax bill of $2,221. Being aware of these valuation processes in Eastlake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Eastlake Assessed Value
$447,000
Average Adams County Assessed Value
$489,000
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eastlake, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80614 | $387,600 | $418,000 | $447,000 | $484,328 | $513,000 |
Source: Ownwell
Property Tax Bills Across Eastlake, Colorado
In Eastlake, Adams County, CO, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor. This assessed value is a percentage of your home's market value, reflecting its estimated worth in the current real estate market. The property tax rate in Eastlake is then applied to this assessed value to determine your annual tax bill. Several factors influence the final tax bill, including local tax rates and any applicable exemptions or deductions. For instance, the median home price in Eastlake is $447,000, and property tax bills can range significantly. At the 25th percentile, homeowners might pay around $2,059, while those at the 75th percentile could see bills as high as $2,450. The 90th percentile tax bill reaches up to $2,714. These figures illustrate how property taxes can vary, impacting homeowners' annual expenses and potentially influencing their financial planning and homeownership decisions.
Average Eastlake Tax Bill
$2,221
Average Adams County Tax Bill
$2,770
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Eastlake, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80614 | $1,901 | $2,059 | $2,221 | $2,450 | $2,714 |
Source: Ownwell