Bachelor Gulch Area, Colorado Property Taxes
The median property tax rate in Bachelor Gulch Area, CO is 0.40%, considerably lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Bachelor Gulch Area at $4,158,820, the typical annual property tax bill reaches $16,626, which significantly exceeds the national median of $2,690. Property taxes in Bachelor Gulch Area 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 Bachelor Gulch Area'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 Bachelor Gulch Area 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
Bachelor Gulch Area, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$16,635
Ownwell’s Bachelor Gulch Area Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in the Bachelor Gulch Area with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in the Bachelor Gulch Area 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 Bachelor Gulch Area, Colorado
Property taxes in Bachelor Gulch Area, Colorado, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Bachelor Gulch Area is 0.40%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Bachelor Gulch Area set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bachelor Gulch Area 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 Bachelor Gulch Area's effective property tax rate to other counties in Colorado and the national median. Understanding how Bachelor Gulch Area compares with other regions provides valuable insights into the varying tax landscape across Eagle County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bachelor Gulch Area Tax Rate
0.40%
Average Eagle County Tax Rate
0.44%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bachelor Gulch Area, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Bachelor Gulch Area, Colorado
In the Bachelor Gulch area, 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 Eagle County Assessor's Office 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 Bachelor Gulch, 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 Bachelor Gulch helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Bachelor Gulch Area, Colorado
Source: Ownwell
$44,100
$1,243,965
$2,443,830
Average Bachelor Gulch Area Assessed Value
$4,158,820
Average Eagle County Assessed Value
$678,345
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bachelor Gulch Area, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Bachelor Gulch Area, Colorado
In the Bachelor Gulch area of Eagle County, CO, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in this region is $4,158,820. Property taxes are determined by multiplying the assessed value by the local tax rate. Various factors such as property size, location, and improvements can influence the assessed value, leading to variations in tax bills. For homeowners in Bachelor Gulch, the property tax bill can range significantly. For instance, the tax bill at the 25th percentile is $14,308, while at the 75th percentile, it rises to $17,997. At the 90th percentile, homeowners can expect a tax bill of $28,666. These figures illustrate the impact of property values on tax obligations, which can be considerably higher than the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their annual property tax responsibilities and plan accordingly.
Average Bachelor Gulch Area Tax Bill
$16,626
Average Eagle County Tax Bill
$3,388
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Bachelor Gulch Area, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell