Victor, Colorado Property Taxes
The median property tax rate in Victor, CO is 0.34%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Victor, the typical annual property tax bill is $397, which is well below the national median of $2,690. Property taxes in Victor are based on the assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Victor'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 Victor 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
Victor, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.34%
Estimate Property Tax Bill
$438
Ownwell’s VICTOR Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in VICTOR with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in VICTOR 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 Victor, Colorado
Property taxes in Victor, Colorado, are essential for funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in Victor is 0.34%, which is significantly lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Victor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Victor 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 Victor's effective property tax rate to other counties in Colorado and the national median. For comparison, the highest median property tax rate in the county is found in zip code 80863, with a rate of 0.42%, while the lowest median tax rate is in zip code 80814, at 0.26%. Understanding how these cities compare with Victor 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 Victor Tax Rate
0.34%
Average Teller County Tax Rate
0.39%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Victor, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80860 | 0.23% | 0.23% | 0.34% | 0.34% | 0.34% |
Source: Ownwell
Property Tax Assessment Values Across Victor, Colorado
In Victor, 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 Victor, 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 Victor helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Victor are both $397, found in the 80860 zip code.
Average Victor Assessed Value
$128,780
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 Victor, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80860 | $30,807 | $82,964 | $128,780 | $179,884 | $267,011 |
Source: Ownwell
Property Tax Bills Across Victor, Colorado
In VICTOR, CO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the home's market value. For example, a median home price in VICTOR is $128,780. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Factors such as property location, improvements, and local tax levies are considered. In VICTOR, the property tax bills can vary significantly. For instance, homeowners at the 25th percentile pay around $228 annually, while those at the 75th percentile pay approximately $528. At the 90th percentile, the tax bill can reach $731. These tax bills impact homeowners by influencing their overall housing costs. Although VICTOR's median property tax rate is lower than the national median of 0.99%, it's essential for homeowners to budget for these expenses to avoid financial strain.
Average Victor Tax Bill
$397
Average Teller County Tax Bill
$1,276
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Victor, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80860 | $80 | $228 | $397 | $528 | $731 |
Source: Ownwell