Castle Rock, Colorado Property Taxes
The median property tax rate in Castle Rock, CO is 0.71%, considerably higher than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Castle Rock at $459,506, the typical annual property tax bill reaches $3,263, exceeding the national median of $2,690. Property taxes in Castle Rock 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 Castle Rock'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 Castle Rock 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
Castle Rock, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$3,262
$3,028
Ownwell’s Castle Rock Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Castle Rock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Castle Rock 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 Castle Rock, Colorado
Property taxes in Castle Rock, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Castle Rock is 0.71%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Castle Rock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Castle Rock 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 Castle Rock's effective property tax rate to other areas in Douglas County and the national median. For comparison, the 80108 zip code has the highest median property tax rate of 0.79%, while the 80104 zip code has the lowest median tax rate of 0.52%. Understanding how these areas compare with Castle Rock provides valuable insights into the varying tax landscape across Douglas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Castle Rock Tax Rate
0.71%
Average Douglas County Tax Rate
0.64%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Castle Rock, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80104 | 0.46% | 0.46% | 0.52% | 0.98% | 1.10% |
| 80108 | 0.49% | 0.69% | 0.79% | 0.97% | 1.14% |
| 80109 | 0.46% | 0.71% | 0.71% | 0.71% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Castle Rock, Colorado
In Castle Rock, 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 Douglas 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 Castle Rock, 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. For instance, the highest median tax bill in Castle Rock is $4,596 in the 80108 zip code, while the lowest is $2,539 in the 80104 zip code. Being aware of these valuation processes in Castle Rock helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Castle Rock Assessed Value
$459,506
Average Douglas County Assessed Value
$496,355
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Castle Rock, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80104 | $250,605 | $343,954 | $409,806 | $492,604 | $627,614 |
| 80108 | $258,330 | $464,366 | $556,885 | $816,208 | $1,155,969 |
| 80109 | $345,415 | $401,945 | $464,282 | $540,761 | $656,321 |
Source: Ownwell
Property Tax Bills Across Castle Rock, Colorado
In Castle Rock, located in Douglas County, CO, property tax bills are calculated based on the assessed value of the home. The assessed value is a percentage of the home's market value, which is determined by the county assessor. For example, with a median home price of $459,506, homeowners can expect their property tax bill to fall within a range, influenced by factors such as the specific zip code and the home's assessed value. Homeowners in Castle Rock pay varying property tax amounts, with the 25th percentile tax bill around $2,343 and the 75th percentile reaching approximately $4,327. The highest median tax bill in the area is $4,596 in the 80108 zip code, while the lowest is $2,539 in the 80104 zip code. These differences can significantly impact homeowners, as higher property taxes can lead to increased monthly mortgage payments and overall housing costs. Compared to the national median property tax rate of 0.99%, Castle Rock's property tax bills reflect the region's unique market conditions and assessment practices.
Average Castle Rock Tax Bill
$3,263
Average Douglas County Tax Bill
$3,328
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Castle Rock, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80104 | $1,329 | $1,836 | $2,539 | $3,813 | $4,691 |
| 80108 | $2,476 | $3,807 | $4,596 | $6,271 | $9,027 |
| 80109 | $2,256 | $2,693 | $3,118 | $3,647 | $4,409 |
Source: Ownwell