Lakewood, Colorado Property Taxes
The median property tax rate in Lakewood, CO is 0.53%, which is significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With a median home value of $285,000 in Lakewood, the typical annual property tax bill amounts to $1,529, well below the national median of $2,690. Property taxes in Lakewood are determined based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Lakewood'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 Lakewood 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
Lakewood, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.53%
Estimate Property Tax Bill
$1,511
Ownwell’s Lakewood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lakewood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lakewood 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 Lakewood, Colorado
Property taxes in Lakewood, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lakewood is 0.53%, lower than both the Colorado state median of 0.55% and the U.S. national median of 0.99%. Local government entities within Lakewood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lakewood 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 Lakewood's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80215 zip code has the highest median property tax rate of 0.57%, while the 80227 zip code has the lowest median tax rate of 0.44%. Understanding how these cities compare with Lakewood provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lakewood Tax Rate
0.53%
Average Denver County Tax Rate
0.55%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lakewood, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80215 | 0.57% | 0.57% | 0.57% | 0.57% | 0.58% |
| 80226 | 0.47% | 0.53% | 0.53% | 0.53% | 0.55% |
| 80227 | 0.44% | 0.44% | 0.44% | 0.44% | 0.44% |
Source: Ownwell
Property Tax Assessment Values Across Lakewood, Colorado
In Lakewood, 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 Denver 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 Lakewood, 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. The median home price in Lakewood is $285,000, with tax bills varying significantly. The highest median tax bill is $2,530 in the 80215 zip code, while the lowest median tax bill is $1,476 in the 80226 zip code. 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 Lakewood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lakewood Assessed Value
$285,000
Average Denver County Assessed Value
$435,200
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lakewood, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80215 | $391,700 | $413,300 | $441,900 | $461,400 | $476,520 |
| 80226 | $249,660 | $260,500 | $278,200 | $299,950 | $331,520 |
| 80227 | $492,100 | $492,100 | $492,100 | $492,100 | $492,100 |
Source: Ownwell
Property Tax Bills Across Lakewood, Colorado
In Lakewood, 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, which is influenced by factors such as location, property size, and market conditions. Homeowners in Lakewood typically face property tax bills ranging from $1,404 at the 25th percentile to $2,188 at the 90th percentile. The median home price in Lakewood is $285,000, and the property tax rate in Lakewood is generally aligned with the national median rate of 0.99%. For instance, homes in the 80215 zip code have the highest median tax bill at $2,530, while those in the 80226 zip code see the lowest median tax bill at $1,476. These taxes fund essential public services such as schools, infrastructure, and emergency services. Understanding how these factors influence property tax bills can help homeowners better manage their financial planning and ensure they are prepared for their annual tax obligations.
Average Lakewood Tax Bill
$1,529
Average Denver County Tax Bill
$2,449
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Lakewood, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80215 | $2,262 | $2,367 | $2,530 | $2,641 | $2,728 |
| 80226 | $1,304 | $1,388 | $1,476 | $1,596 | $1,717 |
| 80227 | $2,167 | $2,167 | $2,167 | $2,167 | $2,167 |
Source: Ownwell