Woodland Park, Colorado Property Taxes
The median property tax rate in Woodland Park, CO is 0.57%, slightly higher than the Colorado state median of 0.55% but lower than the national median of 0.99%. With a median home value of $344,372, the typical annual property tax bill in Woodland Park is $2,067, which is below the national median of $2,690. Property taxes in Woodland Park are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Woodland Park'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 Woodland Park or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Woodland Park, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.57%
Estimate Property Tax Bill
$1,963
$1,822
Ownwell’s Woodland Park Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Woodland Park. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Woodland Park to provide an accurate estimate of your property tax bill. This easy-to-use tool offers clarity on potential tax liabilities, helping you make informed financial decisions. For those interested in more granular insights, you can explore neighborhood-level trends by scrolling down for localized information. Your property’s assessed value, determined by the county, plays a crucial role in these calculations, factoring in any applicable exemptions.
Property Tax Rates Across Woodland Park, Colorado
Property taxes in Woodland Park, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Woodland Park is 0.57%, which is lower than the U.S. national median of 0.99%. Local government entities within Woodland Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Woodland Park 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 Woodland Park's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80863 zip code has the highest median property tax rate of 0.57%, while the same zip code also has the lowest median tax rate of 0.57%. Understanding how these cities compare with Woodland Park 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 Woodland Park Tax Rate
0.57%
Average Douglas County Tax Rate
0.64%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Woodland Park, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80863 | 0.51% | 0.57% | 0.57% | 0.69% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Woodland Park, Colorado
In Woodland Park, 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 Woodland Park, 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 Woodland Park is $344,372, with tax bills ranging from $876 at the 25th percentile to $2,748 at the 75th percentile, and up to $3,266 at the 90th percentile. The highest and lowest median tax bills are both $2,067 in the zip code 80863. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Woodland Park, Colorado
Source: Ownwell
$328,961
$525,417
$721,873
Average Woodland Park Assessed Value
$344,372
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 Woodland Park, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80863 | $28,750 | $103,045 | $344,372 | $457,006 | $558,604 |
Source: Ownwell
Property Tax Bills Across Woodland Park, Colorado
In Woodland Park, CO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For homeowners, the median home price is $344,372. The property tax rate in this area can lead to varying tax bills depending on the assessed value. For instance, the 25th percentile of tax bills is $876, while the 75th percentile reaches up to $2,748, and the 90th percentile can go as high as $3,266. These figures illustrate how tax obligations can fluctuate significantly based on property evaluations and local tax rates. Several factors influence the final tax bill, including the market value of the property, local tax rates, and any applicable exemptions or deductions. High property taxes can impact homeowners by increasing their monthly housing costs, which can be a significant financial burden. However, they also contribute to funding essential public services like schools, infrastructure, and emergency services, which benefit the community as a whole.
Average Woodland Park Tax Bill
$2,067
Average Douglas County Tax Bill
$3,328
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Woodland Park, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80863 | $199 | $876 | $2,067 | $2,748 | $3,266 |
Source: Ownwell