Eagle Vail Area, Colorado Property Taxes
The median property tax rate in the Eagle Vail area, CO is 0.52%, considerably lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in the Eagle Vail area, the typical annual property tax bill reaches $5,122, almost double the national median of $2,690. Property taxes in the Eagle Vail 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 the Eagle Vail 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 the Eagle Vail area 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
Eagle Vail Area, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.52%
Estimate Property Tax Bill
$5,116
Ownwell’s Eagle Vail Area Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in the Eagle Vail Area with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in the Eagle Vail 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 Eagle Vail Area, Colorado
Property taxes in Eagle Vail Area, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eagle Vail Area is 0.52%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Eagle Vail Area set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eagle Vail 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 Eagle Vail Area's effective property tax rate to other counties in Colorado and the national median. For comparison, the highest median property tax rate in Colorado is found in Boulder County at 0.56%, while the lowest median tax rate is in Costilla County at 0.21%. Understanding how these areas compare with Eagle Vail Area 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 Eagle Vail Area Tax Rate
0.52%
Average Eagle County Tax Rate
0.44%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eagle Vail Area, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Eagle Vail Area, Colorado
In the Eagle Vail area of Eagle County, 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 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 the Eagle Vail area, 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. For example, the median home price in the area is $983,930. The 25th percentile tax bill is $3,737, while the 75th percentile tax bill is $7,134, and the 90th percentile tax bill reaches $9,303. 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 the Eagle Vail area helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Eagle Vail Area, Colorado
Source: Ownwell
$44,100
$1,243,965
$2,443,830
Average Eagle Vail Area Assessed Value
$983,930
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 Eagle Vail Area, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Eagle Vail Area, Colorado
In the Eagle Vail 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. Homeowners in this region typically see a median home price of $983,930. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For context, the national median property tax rate is 0.99%. Several factors influence the tax bill, including property size, location, and any applicable exemptions. These elements contribute to variations in tax bills, which can range significantly. For instance, homeowners in the 25th percentile might pay around $3,737, while those in the 75th percentile could see a bill of approximately $7,134. At the higher end, the 90th percentile tax bill can reach up to $9,303. Understanding these factors is crucial for homeowners, as property taxes represent a significant ongoing cost. Accurate assessments ensure that homeowners pay a fair share relative to their property's value.
Average Eagle Vail Area Tax Bill
$5,122
Average Eagle County Tax Bill
$3,388
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Eagle Vail Area, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell