Meredith, Colorado Property Taxes
The median property tax rate in Meredith, CO is 0.57%, slightly higher than the state median of 0.55% but lower than the national median of 0.99%. With a median home value of $254,900, the typical annual property tax bill in Meredith reaches $1,484, which is below the national median of $2,690. Property taxes in Meredith are calculated based on the assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Meredith'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 Meredith 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
Meredith, 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 Meredith Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Meredith with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Meredith 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 Meredith, Colorado
Property taxes in Meredith, Colorado, are crucial for financing essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Meredith is 0.57%, significantly lower than the U.S. national median of 0.99%. Local government entities within Meredith set these rates annually, and they can vary significantly across different neighborhoods. Each year, Meredith 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 Meredith's effective property tax rate to other counties in Colorado and the national median. For comparison, the 81642 zip code has the highest median property tax rate of 0.57%, while the same zip code also has the lowest median tax rate of 0.57%. Understanding how these areas compare with Meredith provides valuable insights into the varying tax landscape across Pitkin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Meredith Tax Rate
0.57%
Average Pitkin County Tax Rate
0.26%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Meredith, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81642 | 0.57% | 0.57% | 0.57% | 0.57% | 0.57% |
Source: Ownwell
Property Tax Assessment Values Across Meredith, Colorado
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Meredith, 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 Pitkin 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 Meredith, 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 Meredith helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 81642 has the highest median tax bill at $1,484, while the lowest median tax bill is also $1,484.
Average Meredith Assessed Value
$254,900
Average Pitkin County Assessed Value
$1,237,200
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Meredith, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81642 | $70,140 | $120,100 | $254,900 | $497,900 | $652,120 |
Source: Ownwell
Property Tax Bills Across Meredith, Colorado
In Meredith, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor's office. This assessed value is a percentage of the home's market value. Homeowners in Meredith can expect their property tax bills to vary significantly depending on the assessed value of their homes. For instance, the median home price in Meredith is $254,900, and the property tax rate in Pitkin County is 0.58%, which is lower than the national median property tax rate of 0.99%. Property tax bills in Meredith range widely, with the 25th percentile at $774 and the 75th percentile at $2,778. The highest property tax bill recorded in Meredith is $3,816. These taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents. Understanding how these factors influence property tax bills can help homeowners better anticipate their annual financial obligations and plan accordingly.
Average Meredith Tax Bill
$1,484
Average Pitkin County Tax Bill
$4,527
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Meredith, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81642 | $399 | $774 | $1,484 | $2,778 | $3,816 |
Source: Ownwell