Jefferson, Colorado Property Taxes
The median property tax rate in Jefferson, CO is 0.45%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Jefferson at $291,118, the typical annual property tax bill is $1,341, which is below the national median of $2,690. Property taxes in Jefferson 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 Jefferson's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Jefferson 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
Jefferson, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.45%
Estimate Property Tax Bill
$1,310
Ownwell’s Jefferson Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Jefferson with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Jefferson to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in trends on a neighborhood level, more localized information is available by scrolling down. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Jefferson, Colorado
Property taxes in Jefferson, Colorado, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jefferson is 0.49%, significantly lower than both the Colorado state median of 0.51% and the U.S. national median of 0.99%. Local government entities within Jefferson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jefferson 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 Jefferson's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80456 zip code has the highest median property tax rate of 0.51%, while the 80456 zip code also has the lowest median tax rate of 0.51%. Understanding how these cities compare with Jefferson provides valuable insights into the varying tax landscape across Park County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jefferson Tax Rate
0.45%
Average Park County Tax Rate
0.44%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jefferson, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80456 | 0.45% | 0.45% | 0.45% | 0.50% | 0.50% |
Source: Ownwell
Property Tax Assessment Values Across Jefferson, Colorado
In Jefferson, 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 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 Jefferson, 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 Jefferson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Jefferson is $291,118, with tax bills ranging from $1,008 at the 25th percentile to $2,082 at the 90th percentile. The highest and lowest median tax bills are both $1,341, found in the 80456 zip code.
Average Jefferson Assessed Value
$291,118
Average Park County Assessed Value
$344,823
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jefferson, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80456 | $162,203 | $222,015 | $291,118 | $358,646 | $431,976 |
Source: Ownwell
Property Tax Bills Across Jefferson, Colorado
In Jefferson, CO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the property's market value. Homeowners in Jefferson can expect their property tax bills to vary significantly depending on the assessed value and the specific tax rate applied by the local taxing authorities. The tax bill for Jefferson homeowners typically falls between $1,008 at the 25th percentile and $1,708 at the 75th percentile, with the highest bills reaching up to $2,082 at the 90th percentile. These figures are influenced by factors such as the property's location, size, and condition. For instance, the median home price in Jefferson is $291,118, which directly impacts the assessed value and, consequently, the tax bill. Compared to the national median property tax rate of 0.99%, Jefferson's property tax rates may seem moderate, but they can still significantly affect homeowners' annual expenses. Understanding how these taxes are calculated helps homeowners budget more effectively and anticipate their financial obligations.
Average Jefferson Tax Bill
$1,341
Average Park County Tax Bill
$1,504
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Jefferson, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80456 | $721 | $1,008 | $1,341 | $1,708 | $2,082 |
Source: Ownwell