Cripple Creek, Colorado Property Taxes
The median property tax rate in Cripple Creek, CO is 0.25%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With a median home value of $192,091 in Cripple Creek, the typical annual property tax bill is $459, far below the national median of $2,690. Property taxes in Cripple Creek are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Cripple Creek'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 Cripple Creek or another part of Teller County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cripple Creek, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.25%
Estimate Property Tax Bill
$480
Ownwell’s Cripple Creek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cripple Creek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cripple Creek 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 Teller County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Cripple Creek, Colorado
Property taxes in Cripple Creek, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cripple Creek is 0.25%, significantly lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Cripple Creek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cripple Creek 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 Cripple Creek's effective property tax rate to other counties in Colorado and the national median. Understanding how these cities compare with Cripple Creek provides valuable insights into the varying tax landscape across Teller County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cripple Creek Tax Rate
0.25%
Average Teller County Tax Rate
0.39%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cripple Creek, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80813 | 0.22% | 0.23% | 0.25% | 0.30% | 0.30% |
Source: Ownwell
Property Tax Assessment Values Across Cripple Creek, Colorado
In Cripple Creek, 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 Teller 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 Cripple Creek, 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 Cripple Creek helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 80813 has both the highest and lowest median tax bill at $459, reflecting the unique property tax landscape in this area.
Property Tax Assessment Values Across Cripple Creek, Colorado
Source: Ownwell
$128,780
$250,608
$372,436
Average Cripple Creek Assessed Value
$192,091
Average Teller County Assessed Value
$324,386
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cripple Creek, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80813 | $69,500 | $123,377 | $192,091 | $277,674 | $381,434 |
Source: Ownwell
Property Tax Bills Across Cripple Creek, Colorado
In Cripple Creek, located in Teller County, CO, property tax bills are calculated based on the assessed value of your home, which is a percentage of its market value. The median home price in Cripple Creek is $192,091. Property tax rates in this area are relatively low compared to the national median property tax rate of 0.99%. The tax bill for homeowners in Cripple Creek can vary significantly. For instance, the 25th percentile tax bill is $272, while the 75th percentile tax bill rises to $735. At the 90th percentile, homeowners might see a tax bill of $1,019. Several factors contribute to the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions. For homeowners, understanding these factors is crucial as they directly impact annual financial obligations. With the highest and lowest median tax bills both recorded at $459 in the zip code 80813, it’s clear that property taxes in Cripple Creek offer a predictable range, helping homeowners budget more effectively.
Average Cripple Creek Tax Bill
$459
Average Teller County Tax Bill
$1,276
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Cripple Creek, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80813 | $159 | $272 | $459 | $735 | $1,019 |
Source: Ownwell