Burns, Colorado Property Taxes
The median property tax rate in Burns, CO is 0.38%, considerably lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Burns, the typical annual property tax bill reaches $440, significantly below the national median of $2,690. Property taxes in Burns 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 Burns'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 Burns or another part of Eagle County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Burns, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.38%
Estimate Property Tax Bill
$577
$535
Ownwell’s BURNS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in BURNS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in BURNS 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 Burns, Colorado
Property taxes in Burns, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burns is 0.38%, significantly lower than both the Colorado state median of 0.51% and the U.S. national median of 0.99%. Local government entities within Burns set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burns 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 Burns's effective property tax rate to other counties in Colorado and the national median. For comparison, 81657 has the highest median property tax rate of 0.51%, while 81620 has the lowest median tax rate of 0.38%. Understanding how these cities compare with Burns 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 Burns Tax Rate
0.38%
Average Eagle County Tax Rate
0.44%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burns, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80426 | 0.37% | 0.37% | 0.38% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Burns, Colorado
In Burns, 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 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 Burns, 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 Burns is $151,770, with property tax bills ranging from $282 at the 25th percentile to $800 at the 90th percentile. The highest and lowest median tax bills are both $440 in the 80426 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 Burns helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Burns Assessed Value
$151,770
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 Burns, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80426 | $36,252 | $92,745 | $151,770 | $196,060 | $199,252 |
Source: Ownwell
Property Tax Bills Across Burns, Colorado
In Burns, Eagle County, 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 market value of the property. For instance, with a median home price of $151,770, the tax bill can vary significantly. The 25th percentile tax bill in Burns is $282, while the 75th percentile tax bill reaches $763. At the 90th percentile, homeowners might see a tax bill of about $800. These figures show how property taxes can differ widely depending on the assessed value and the specific tax rate applied. Several factors influence the final tax bill, including the property's location within the county, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Burns offers a relatively affordable range, which can be beneficial for homeowners looking to manage their annual expenses. Understanding these factors helps homeowners anticipate their property tax obligations and plan their finances accordingly.
Average Burns Tax Bill
$440
Average Eagle County Tax Bill
$3,388
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Burns, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80426 | $131 | $282 | $440 | $763 | $800 |
Source: Ownwell