Lazear, Colorado Property Taxes
The median property tax rate in Lazear, CO is 0.43%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With a median home value of $106,369 in Lazear, the typical annual property tax bill is $597, well below the national median of $2,690. Property taxes in Lazear are determined based on the tax assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Gaining a comprehensive understanding of Lazear's property tax system, exploring available exemptions, and finding opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Lazear or another part of Delta County, being well-informed about the local property tax system can offer significant financial benefits for both homeowners and real estate investors.
Last Updated June 14, 2024
Lazear, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.43%
Estimate Property Tax Bill
$457
Ownwell’s Lazear Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lazear with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lazear 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 Lazear, Colorado
Property taxes in Lazear, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lazear is 0.43%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Lazear set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lazear 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 Lazear's effective property tax rate to other counties in Colorado and the national median. For comparison, the 81420 zip code has both the highest and lowest median property tax rate of 0.43%, highlighting the uniformity within the area. Understanding how these cities compare with Lazear provides valuable insights into the varying tax landscape across Delta County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lazear Tax Rate
0.43%
Average Delta County Tax Rate
0.45%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lazear, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81420 | 0.39% | 0.43% | 0.43% | 0.44% | 0.44% |
Source: Ownwell
Property Tax Assessment Values Across Lazear, Colorado
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lazear, Colorado. 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 Delta County Assessor 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 Lazear, 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 Lazear helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Lazear are both $597, occurring in the 81420 zip code.
Average Lazear Assessed Value
$106,369
Average Delta County Assessed Value
$200,311
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lazear, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81420 | $26,847 | $58,768 | $106,369 | $216,608 | $284,194 |
Source: Ownwell
Property Tax Bills Across Lazear, Colorado
In Lazear, Delta County, CO, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. The assessed value is a percentage of the market value of the home, and this value is then multiplied by the local tax rate to determine the tax bill. For example, with a median home price of $106,369, homeowners can expect a range of tax bills. The 25th percentile tax bill is around $347, while the 75th percentile tax bill is approximately $886, and the 90th percentile tax bill reaches up to $1,130. Compared to the national median property tax rate of 0.99%, the property tax rates in Lazear offer a significant variance. These tax bills have a direct impact on homeowners, influencing their annual budget and the overall cost of homeownership. Understanding these factors can help homeowners plan better and potentially seek exemptions or appeals to reduce their tax burden.
Average Lazear Tax Bill
$597
Average Delta County Tax Bill
$931
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Lazear, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81420 | $254 | $347 | $597 | $886 | $1,130 |
Source: Ownwell