Erie, Colorado Property Taxes
The median property tax rate in Erie, CO is 0.44%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Erie at $360,690, the typical annual property tax bill is around $1,955, which is well below the national median of $2,690. Property taxes in Erie are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Erie's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Erie or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Erie, 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 Erie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Erie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Erie 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 Erie, Colorado
Property taxes in Erie, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Erie is 0.44%, significantly lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Erie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Erie 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 Erie's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80516 zip code has the highest median property tax rate of 0.44%, while the same zip code also has the lowest median tax rate of 0.44%. Understanding how these cities compare with Erie provides valuable insights into the varying tax landscape across Broomfield County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Erie Tax Rate
0.44%
Average Broomfield County Tax Rate
0.55%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Erie, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80516 | 0.27% | 0.38% | 0.44% | 0.55% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Erie, Colorado
In Erie, 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 Broomfield 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 Erie, 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. Being aware of these valuation processes in Erie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 80516, with a median bill of $1,955.
Average Erie Assessed Value
$360,690
Average Broomfield County Assessed Value
$637,620
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Erie, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80516 | $126,955 | $282,080 | $360,690 | $603,875 | $832,070 |
Source: Ownwell
Property Tax Bills Across Erie, Colorado
Property tax bills in Erie, located in Broomfield County, CO, are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For instance, the median home price in Erie is $360,690. Homeowners in Erie experience a range of tax bills. The 25th percentile tax bill stands at $1,135, while the 75th percentile reaches $3,323, and the 90th percentile goes up to $3,815. The highest median tax bill in the region is $1,955, consistent across all zip codes. These property taxes are crucial for funding local services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Comparatively, Erie's tax rates and bills are competitive, given the national median property tax rate of 0.99%.
Average Erie Tax Bill
$1,955
Average Broomfield County Tax Bill
$3,517
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Erie, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80516 | $590 | $1,135 | $1,955 | $3,323 | $3,815 |
Source: Ownwell