Eagle Area, Colorado Property Taxes
The median property tax rate in Eagle Area, CO is 0.42%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With a median home value of $486,400 in Eagle Area, the typical annual property tax bill is around $2,758, which is just below the national median of $2,690. Property taxes in Eagle Area are calculated based on the assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Eagle 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 Eagle Area 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
Eagle Area, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.42%
Estimate Property Tax Bill
$2,043
Ownwell’s Eagle Area Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eagle Area to estimate your property tax bill. This valuable tool helps you understand potential tax liabilities. For those 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 Eagle Area, Colorado
Property taxes in Eagle Area, Colorado, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Eagle Area is 0.42%, significantly lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Eagle Area set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eagle 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 Eagle Area's effective property tax rate to other counties in Colorado and the national median. For comparison, the highest median property tax rate in the region is 0.75%, while the lowest median tax rate is 0.35%. Understanding how these cities compare with Eagle 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 Eagle Area Tax Rate
0.42%
Average Eagle County Tax Rate
0.44%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eagle Area, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Eagle Area, Colorado
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in the Eagle area of Eagle County, Colorado. 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 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. Assessment notices in the Eagle area 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 the Eagle area helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In this region, the 25th percentile tax bill is $1,848, while the 75th percentile tax bill is $4,412, and the 90th percentile tax bill reaches $7,717.
Property Tax Assessment Values Across Eagle Area, Colorado
Source: Ownwell
$44,100
$1,243,965
$2,443,830
Average Eagle Area Assessed Value
$486,400
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 Eagle Area, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Eagle Area, Colorado
Property tax bills in the Eagle area of Colorado are calculated based on the assessed value of a property, which is determined by the local assessor's office. The assessed value is typically a percentage of the market value of the home. For example, with a median home price of $486,400, the assessed value is used to calculate the tax bill. Various factors influence the final tax bill, including the local tax rate and any applicable exemptions or deductions. In Eagle County, homeowners can expect a range of property tax bills. The 25th percentile tax bill is around $1,848, while the 75th percentile reaches up to $4,412. For those at the higher end, the 90th percentile tax bill can soar to $7,717. These figures highlight the variability in property tax burdens, which can significantly impact homeowners' finances. Comparing these numbers to the national median property tax rate of 0.99% helps illustrate how property taxes in the Eagle area can be relatively high, affecting overall affordability and budget planning for residents.
Average Eagle Area Tax Bill
$2,758
Average Eagle County Tax Bill
$3,388
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Eagle Area, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell