Larkspur, Colorado Property Taxes
The median property tax rate in Larkspur, CO is 0.66%, which is notably lower than the national median of 0.99% but higher than the Colorado state median of 0.55%. With the median home value in Larkspur at $641,112, the typical annual property tax bill amounts to $4,120, surpassing the national median of $2,690. Property taxes in Larkspur are determined based on the tax assessed value, which is usually lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Larkspur'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 Larkspur 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
Larkspur, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$4,231
Ownwell’s Larkspur Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Larkspur with just two key data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Larkspur to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is the value assigned by Douglas County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Larkspur, Colorado
Property taxes in Larkspur, Colorado, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Larkspur is 0.66%, which is lower than the U.S. national median of 0.99%. Local government entities in Larkspur set these rates annually, and they can vary significantly across different neighborhoods. Each year, Larkspur 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 Larkspur's effective property tax rate to other areas in Colorado and the national median. For comparison, the zip code 80118 has both the highest and lowest median property tax rate of 0.66%. Understanding how these areas compare with Larkspur provides valuable insights into the varying tax landscape across Douglas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Larkspur Tax Rate
0.66%
Average Douglas County Tax Rate
0.64%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Larkspur, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80118 | 0.56% | 0.62% | 0.66% | 0.69% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Larkspur, Colorado
In Larkspur, 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 Douglas 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 Larkspur, 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 Larkspur helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Larkspur is $641,112, with annual tax bills ranging from $3,126 at the 25th percentile to $6,318 at the 90th percentile. The zip code 80118 has both the highest and lowest median tax bill at $4,120.
Average Larkspur Assessed Value
$641,112
Average Douglas County Assessed Value
$496,355
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Larkspur, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80118 | $319,021 | $497,274 | $641,112 | $787,874 | $959,796 |
Source: Ownwell
Property Tax Bills Across Larkspur, Colorado
In Larkspur, property tax bills are calculated based on the assessed value of a home, which is determined by the Douglas County Assessor's Office. The assessed value is a percentage of the home's market value, and this figure is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as property size, location, and market conditions influence the assessed value. For homeowners in Larkspur, the median home price is $641,112, which significantly impacts the tax bill. The 25th percentile tax bill is $3,126, while the 75th percentile tax bill reaches $5,139. At the 90th percentile, homeowners can expect to pay around $6,318. Comparatively, the national median property tax rate is 0.99%, making Larkspur's rates relatively higher. This can place a financial strain on homeowners, especially those with properties at the higher end of the market. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan accordingly.
Average Larkspur Tax Bill
$4,120
Average Douglas County Tax Bill
$3,328
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Larkspur, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80118 | $2,102 | $3,126 | $4,120 | $5,139 | $6,318 |
Source: Ownwell