Black Hawk, Colorado Property Taxes
The median property tax rate in Black Hawk, 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 Black Hawk at $347,805, the typical annual property tax bill reaches $1,091, significantly below the national median of $2,690. Property taxes in Black Hawk 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 Black Hawk'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 Black Hawk 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
Black Hawk, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.51%
Estimate Property Tax Bill
$1,774
Ownwell’s BLACK HAWK Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in BLACK HAWK with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in BLACK HAWK to provide an estimated property tax bill. This valuable tool helps you gauge potential tax liabilities effectively. For those interested in neighborhood-level trends, further localized information is available below. Your property’s assessed value is determined by the county for property tax purposes and takes into account any applicable exemptions.
Property Tax Rates Across Black Hawk, Colorado
Property taxes in Black Hawk, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Black Hawk is 0.51%, which is lower than the U.S. national median of 0.99%. Local government entities within Black Hawk set these rates annually, and they can vary significantly across different neighborhoods. Each year, Black Hawk 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 Black Hawk's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80422 zip code has the highest median property tax rate of 0.51%, while the same zip code also has the lowest median tax rate of 0.51%. Understanding how these cities compare with Black Hawk provides valuable insights into the varying tax landscape across Gilpin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Black Hawk Tax Rate
0.51%
Average Gilpin County Tax Rate
0.41%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Black Hawk, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80422 | 0.21% | 0.21% | 0.51% | 0.51% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Black Hawk, Colorado
In Black Hawk, 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 Gilpin County Assessor's Office 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 Black Hawk 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 Black Hawk helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median property tax bill in Black Hawk is $1,091, with the highest and lowest median tax bills both found in the 80422 zip code.
Average Black Hawk Assessed Value
$347,805
Average Gilpin County Assessed Value
$340,645
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Black Hawk, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80422 | $75,168 | $219,240 | $347,805 | $461,668 | $577,954 |
Source: Ownwell
Property Tax Bills Across Black Hawk, Colorado
In Black Hawk, located in Gilpin County, CO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Black Hawk is $347,805. To determine the tax bill, this assessed value is multiplied by the local tax rate. The national median property tax rate is 0.99%, but local rates can vary. Homeowners in Black Hawk typically see tax bills ranging from $660 at the 25th percentile to $1,690 at the 75th percentile, with the 90th percentile reaching up to $2,269. Several factors influence these calculations, including changes in home values and local government budgets. For homeowners, this means tax bills can fluctuate yearly, impacting household budgets. Understanding these factors can help homeowners anticipate changes in their property tax obligations and plan accordingly. The highest and lowest median tax bills in the area are both recorded at $1,091, indicating a relatively consistent tax environment within the specific zip code 80422.
Average Black Hawk Tax Bill
$1,091
Average Gilpin County Tax Bill
$1,047
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Black Hawk, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80422 | $263 | $660 | $1,091 | $1,690 | $2,269 |
Source: Ownwell