Erie, Colorado Property Taxes
The median property tax rate in Erie, CO is 0.58%, slightly higher than the Colorado state median of 0.55% but still below the national median of 0.99%. With the median home value in Erie at $764,750, the typical annual property tax bill reaches $4,401, significantly exceeding the national median of $2,690. Property taxes in Erie 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 Erie'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 Erie 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
Erie, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$4,436
Ownwell’s Erie Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Erie with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Erie to provide an estimate of your property tax bill. This invaluable tool helps you gauge potential tax liabilities effectively. For those interested in more granular insights, you can explore neighborhood-level trends by scrolling down for localized information. Your property’s assessed value is the figure assigned by Boulder County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Erie, Colorado
Property taxes in Erie, Colorado, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Erie is 0.58%, which is lower than the U.S. national median of 0.99%. Local government entities within Erie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Erie 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 Erie's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80516 zip code has the highest median property tax rate of 0.58%, while the same zip code also has the lowest median tax rate of 0.58%. Understanding how these cities compare with Erie provides valuable insights into the varying tax landscape across Boulder County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Erie Tax Rate
0.58%
Average Boulder County Tax Rate
0.50%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Erie, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80516 | 0.46% | 0.55% | 0.58% | 0.79% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Erie, Colorado
In Erie, 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 Boulder 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 Erie, 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 Erie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Erie is $764,750, with the highest median tax bill found in the 80516 zip code at $4,403.
Average Erie Assessed Value
$764,750
Average Boulder County Assessed Value
$722,900
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Erie, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80516 | $548,000 | $634,100 | $766,700 | $899,000 | $1,085,200 |
Source: Ownwell
Property Tax Bills Across Erie, Colorado
In Erie, located in Boulder County, CO, property tax bills are calculated based on the assessed value of a home. The process begins with determining the market value of the property, which is then assessed at a percentage set by the state. This assessed value is multiplied by the local tax rate to determine the annual tax bill. Factors such as property location, size, and improvements can influence the assessed value. For homeowners in Erie, the median home price stands at $764,750. The property tax bills vary significantly, with the 25th percentile tax bill at $3,547 and the 75th percentile reaching $6,594. At the 90th percentile, homeowners can expect a tax bill of approximately $8,089. The highest median tax bill in the 80516 zip code is $4,403, which is higher than the national median property tax rate of 0.99%. These property taxes can significantly impact homeowners, influencing decisions on home buying, selling, and budgeting for annual expenses.
Average Erie Tax Bill
$4,401
Average Boulder County Tax Bill
$3,545
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Erie, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80516 | $2,993 | $3,547 | $4,403 | $6,609 | $8,097 |
Source: Ownwell