Beaver Creek Area, Colorado Property Taxes
The median property tax rate in the Beaver Creek area, CO is 0.51%, considerably lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Beaver Creek area at $3,546,375, the typical annual property tax bill reaches $16,675, significantly exceeding the national median of $2,690. Property taxes in the Beaver Creek area are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding the Beaver Creek area'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 the Beaver Creek area or another part of Eagle County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Beaver Creek Area, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.51%
Estimate Property Tax Bill
$18,087
Ownwell’s Beaver Creek Area Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in the Beaver Creek Area with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in the Beaver Creek Area 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 Eagle County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Beaver Creek Area, Colorado
Property taxes in the Beaver Creek Area, Colorado, are essential for funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in the Beaver Creek Area is 0.51%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within the Beaver Creek Area set these rates annually, and they can vary significantly across different neighborhoods. Each year, the Beaver Creek Area 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 the Beaver Creek Area's effective property tax rate to other counties in Colorado and the national median. Understanding how these cities compare with the Beaver Creek Area provides valuable insights into the varying tax landscape across Eagle County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Beaver Creek Area Tax Rate
0.51%
Average Eagle County Tax Rate
0.44%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Beaver Creek Area, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Beaver Creek Area, Colorado
In the Beaver Creek area, 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 Eagle 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 the Beaver Creek area, 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. The median home price in the area is $3,546,375, with tax bills ranging from $10,945 at the 25th percentile to $32,331 at the 90th percentile. 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 the Beaver Creek area helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Beaver Creek Area, Colorado
Source: Ownwell
$44,100
$1,243,965
$2,443,830
Average Beaver Creek Area Assessed Value
$3,546,375
Average Eagle County Assessed Value
$678,345
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Beaver Creek Area, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Beaver Creek Area, Colorado
In the Beaver Creek area of Eagle County, CO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in this region is $3,546,375. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Various factors such as property size, location, and market conditions influence the assessed value. Homeowners in this area can expect their property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $10,945, while at the 75th percentile, it rises to $27,617. At the 90th percentile, it can reach up to $32,331. These figures highlight the disparity in tax bills due to differences in property values. Compared to the national median property tax rate of 0.99%, the property taxes in Beaver Creek reflect the high property values typical of this affluent area. This can have a substantial impact on homeowners, affecting their overall cost of living and financial planning.
Average Beaver Creek Area Tax Bill
$16,675
Average Eagle County Tax Bill
$3,388
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Beaver Creek Area, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell