Silver Plume, Colorado Property Taxes
The median property tax rate in Silver Plume, CO is 0.58%, slightly higher than the Colorado state median of 0.55% but below the national median of 0.99%. With a median home value of $224,450, the typical annual property tax bill in Silver Plume is $1,271, which is significantly lower than the national median of $2,690. Property taxes here are calculated based on the assessed value, which is often less than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Silver Plume's property tax system and exploring available exemptions can lead to substantial annual savings. Whether you're in the heart of Silver Plume or another part of Clear Creek County, grasping the local property tax nuances is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Silver Plume, 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 Silver Plume Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Silver Plume with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Silver Plume 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 Silver Plume, Colorado
Property taxes in Silver Plume, Colorado, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Silver Plume is 0.58%, which is lower than the U.S. national median of 0.99%. Local government entities within Silver Plume set these rates annually, and they can vary significantly across different neighborhoods. Each year, Silver Plume 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 Silver Plume's effective property tax rate to other counties in Colorado and the national median. For comparison, the zip code 80476 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 Silver Plume provides valuable insights into the varying tax landscape across Clear Creek County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Silver Plume Tax Rate
0.58%
Average Clear Creek County Tax Rate
0.54%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Silver Plume, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80476 | 0.51% | 0.51% | 0.58% | 0.58% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Silver Plume, Colorado
In Silver Plume, 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 Clear Creek 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 Silver Plume, 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 Silver Plume helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 80476 has the same highest and lowest median tax bill of $1271.
Average Silver Plume Assessed Value
$224,450
Average Clear Creek County Assessed Value
$360,990
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Silver Plume, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80476 | $112,822 | $170,520 | $224,450 | $278,920 | $347,776 |
Source: Ownwell
Property Tax Bills Across Silver Plume, Colorado
In Silver Plume, located in Clear Creek County, CO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the property's market value. For instance, with a median home price of $224,450, the tax bill can vary significantly. Homeowners in the 25th percentile can expect a tax bill around $932, while those in the 75th percentile might see bills closer to $1,507. At the 90th percentile, tax bills can reach up to $1,862. These variations are influenced by factors such as property location, improvements, and market conditions. The highest median tax bill in the area is recorded at $1,271 in the 80476 zip code. Understanding these factors is crucial for homeowners as property tax bills represent a significant annual expense, impacting overall home affordability and financial planning. Compared to the national median property tax rate of 0.99%, Silver Plume's rates reflect the unique economic landscape of the region.
Average Silver Plume Tax Bill
$1,271
Average Clear Creek County Tax Bill
$1,938
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Silver Plume, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80476 | $581 | $932 | $1,271 | $1,507 | $1,862 |
Source: Ownwell