Foxfield, Colorado Property Taxes
The median property tax rate in Foxfield, CO is 0.60%, slightly higher than the state median of 0.55% but still below the national median of 0.99%. With a median home value of $816,100 in Foxfield, the typical annual property tax bill reaches $4,643, significantly surpassing the national median of $2,690. Property taxes in Foxfield are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Foxfield'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 Foxfield 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
Foxfield, 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 Foxfield Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Foxfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Foxfield 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 the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Foxfield, Colorado
Property taxes in Foxfield, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Foxfield is 0.60%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Foxfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Foxfield 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 Foxfield's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80016 zip code has the highest median property tax rate of 0.60%, while the same 80016 zip code also has the lowest median tax rate of 0.60%. Understanding how these areas compare with Foxfield 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 Foxfield Tax Rate
0.60%
Average Arapahoe County Tax Rate
0.70%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Foxfield, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80016 | 0.51% | 0.54% | 0.60% | 0.60% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Foxfield, Colorado
In Foxfield, 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 Foxfield, 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 Foxfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 80016, with a median tax bill of $4,643.
Average Foxfield Assessed Value
$816,100
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 Foxfield, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80016 | $586,940 | $672,100 | $816,100 | $1,016,700 | $1,220,280 |
Source: Ownwell
Property Tax Bills Across Foxfield, Colorado
In Foxfield, located in Arapahoe County, CO, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in Foxfield is $816,100. Property taxes here are influenced by the local tax rate and the assessed value, which is a percentage of the market value. Homeowners in Foxfield experience a range of tax bills, with the 25th percentile at $3,814 and the 75th percentile at $5,938. Those in the 90th percentile face tax bills as high as $7,208. These tax bills are significantly higher than the national median property tax rate of 0.99%. The highest and lowest median tax bills in the area both stand at $4,643 in the zip code 80016. This wide range of property tax bills impacts homeowners differently, depending on the assessed value of their property and the specific tax rates applied. Understanding these factors is crucial for homeowners to anticipate their annual property tax obligations.
Average Foxfield Tax Bill
$4,643
Average Arapahoe County Tax Bill
$2,536
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Foxfield, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80016 | $3,224 | $3,814 | $4,643 | $5,938 | $7,208 |
Source: Ownwell