Cherry Hills Village, Colorado Property Taxes
The median property tax rate in Cherry Hills Village, CO is 0.66%, which is significantly lower than the national median of 0.99% but higher than the Colorado state median of 0.55%. With a median home value of $2,135,200 in Cherry Hills Village, the typical annual property tax bill amounts to $14,139, far surpassing the national median of $2,690. Property taxes in Cherry Hills Village are determined based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of Cherry Hills Village's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're residing in Cherry Hills Village or another part of Arapahoe County, familiarizing yourself with the local property tax regulations will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cherry Hills Village, 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 Cherry Hills Village Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cherry Hills Village with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cherry Hills Village 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 Arapahoe County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Cherry Hills Village, Colorado
Property taxes in Cherry Hills Village, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cherry Hills Village is 0.66%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Cherry Hills Village set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cherry Hills Village 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 Cherry Hills Village's effective property tax rate to other areas in Arapahoe County and the national median. For comparison, the zip code 80121 has the highest median property tax rate of 0.66%, while the zip code 80111 has the lowest median tax rate of 0.66%. Understanding how these cities compare with Cherry Hills Village provides valuable insights into the varying tax landscape across Arapahoe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cherry Hills Village Tax Rate
0.66%
Average Arapahoe County Tax Rate
0.70%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cherry Hills Village, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80111 | 0.62% | 0.66% | 0.66% | 0.66% | 0.70% |
| 80121 | 0.62% | 0.65% | 0.66% | 0.66% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Cherry Hills Village, Colorado
In Cherry Hills Village, 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 Arapahoe 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 Cherry Hills Village, 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 Cherry Hills Village helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 80121 has the highest median tax bill at $16,572, while the zip code 80111 has the lowest at $12,450.
Property Tax Assessment Values Across Cherry Hills Village, Colorado
Source: Ownwell
$73,750
$1,300,035
$2,526,320
Average Cherry Hills Village Assessed Value
$2,135,200
Average Arapahoe County Assessed Value
$387,300
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cherry Hills Village, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80111 | $1,492,430 | $1,686,900 | $1,822,700 | $2,277,625 | $3,304,880 |
| 80121 | $1,365,000 | $1,608,600 | $2,526,320 | $3,343,700 | $4,131,760 |
Source: Ownwell
Property Tax Bills Across Cherry Hills Village, Colorado
Property tax bills in Cherry Hills Village, located in Arapahoe County, CO, are determined by assessing the market value of a property and applying the local tax rate. The median home price in Cherry Hills Village is $2,135,200. Property taxes are calculated by multiplying the assessed value of the home by the local tax rate, which can vary based on specific levies and assessments within the jurisdiction. For homeowners in Cherry Hills Village, the property tax bill can range significantly. At the 25th percentile, the tax bill is $10,631, while at the 75th percentile, it rises to $19,893. The 90th percentile sees tax bills as high as $25,719. The highest median tax bill in the area is $16,572 in the 80121 zip code, while the lowest median tax bill is $12,450 in the 80111 zip code. These property tax bills can have a substantial impact on homeowners, influencing their overall cost of living and financial planning. With the national median property tax rate at 0.99%, Cherry Hills Village's rates reflect the high value of real estate in this affluent community.
Average Cherry Hills Village Tax Bill
$14,139
Average Arapahoe County Tax Bill
$2,536
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Cherry Hills Village, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80111 | $9,348 | $10,634 | $12,450 | $15,021 | $21,796 |
| 80121 | $9,002 | $10,779 | $16,572 | $21,991 | $27,903 |
Source: Ownwell