Elbert, Colorado Property Taxes
The median property tax rate in Elbert, CO is 0.66%, which is notably lower than the national median of 0.99% but higher than the Colorado state median of 0.55%. With a median home value of $599,252 in Elbert, the typical annual property tax bill amounts to $3,902, surpassing the national median of $2,690. Property taxes in Elbert are calculated based on the assessed value, which is generally lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Elbert's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're residing in Elbert or another part of Douglas County, comprehending the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Elbert, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$3,955
$3,670
Ownwell’s Elbert Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Elbert with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elbert 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 Elbert, Colorado
Property taxes in Elbert, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Elbert is 0.66%, which is lower than the national median of 0.99%. Local government entities within Elbert set these rates annually, and they can vary significantly across different neighborhoods. Each year, Elbert 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 Elbert's effective property tax rate to other regions in Colorado and the national median. For comparison, the 80106 zip code has both the highest and lowest median property tax rate of 0.66%, matching Elbert's rate. Understanding how these areas compare with Elbert 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 Elbert Tax Rate
0.66%
Average Douglas County Tax Rate
0.64%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elbert, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80106 | 0.58% | 0.59% | 0.66% | 0.78% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Elbert, Colorado
In Elbert, 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 Appraisal District 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 Elbert, 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 Elbert helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Elbert is $3,902 in zip code 80106, while the lowest median tax bill is also $3,902 in the same zip code.
Average Elbert Assessed Value
$599,252
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 Elbert, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80106 | $286,809 | $419,135 | $599,252 | $870,307 | $1,111,232 |
Source: Ownwell
Property Tax Bills Across Elbert, Colorado
In Elbert, located in Douglas County, CO, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The median home price in Elbert is $599,252. Homeowners in this area can expect their property tax bills to vary significantly, influenced by the assessed value of their homes and the specific tax rates applied by local authorities. For example, the tax bill for homes at the 25th percentile is approximately $2,853, while those at the 75th percentile can see bills around $6,067. Homes in the 90th percentile have tax bills reaching $7,968. The highest and lowest median tax bills in the area are both $3,902, corresponding to the zip code 80106. These tax bills impact homeowners by influencing their annual housing costs, potentially affecting decisions on home purchases and financial planning. Compared to the national median property tax rate of 0.99%, the tax rates in Elbert can result in a wide range of tax obligations for homeowners, depending on their property's assessed value.
Average Elbert Tax Bill
$3,902
Average Douglas County Tax Bill
$3,328
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Elbert, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80106 | $2,025 | $2,853 | $3,902 | $6,067 | $7,968 |
Source: Ownwell