Edwards, Colorado Property Taxes
The median property tax rate in Edwards, CO is 0.47%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Edwards at $842,325, the typical annual property tax bill is $3,835, which is above the national median of $2,690. Property taxes in Edwards are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Edwards' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Edwards 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
Edwards, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$3,959
$3,674
Ownwell’s Edwards Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Edwards with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Edwards 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 Edwards, Colorado
Property taxes in Edwards, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Edwards is 0.47%, significantly lower than the U.S. national median of 0.99%. Local government entities within Edwards set these rates annually, and they can vary significantly across different neighborhoods. Each year, Edwards 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 Edwards's effective property tax rate to other counties in Colorado and the national median. For comparison, the zip code 81632 has the highest median property tax rate of 0.47%, while the same zip code also has the lowest median tax rate of 0.47%. Understanding how these cities compare with Edwards 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 Edwards Tax Rate
0.47%
Average Eagle County Tax Rate
0.44%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Edwards, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81632 | 0.42% | 0.42% | 0.47% | 0.48% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Edwards, Colorado
In Edwards, 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 Edwards, 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 Edwards helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 81632 has the highest and lowest median tax bill at $3,835, highlighting the variability within the region.
Average Edwards Assessed Value
$842,325
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 Edwards, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81632 | $263,801 | $489,640 | $842,325 | $1,499,392 | $2,418,536 |
Source: Ownwell
Property Tax Bills Across Edwards, Colorado
In Edwards, located in 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 Edwards is $842,325. Property taxes are then calculated by applying the local tax rate to this assessed value. Several factors influence the final tax bill, including the property's size, location, and any applicable exemptions or deductions. Homeowners in Edwards can expect a range of tax bills depending on these factors. For instance, the tax bill at the 25th percentile is $2,095, while at the 75th percentile, it rises to $7,770. At the 90th percentile, it can reach as high as $14,035. Comparatively, the median property tax bill in Edwards is $3,835, which is higher than the national median property tax rate of 0.99%. These tax bills significantly impact homeowners by influencing their overall housing costs and potentially affecting their financial planning and budgeting.
Average Edwards Tax Bill
$3,835
Average Eagle County Tax Bill
$3,388
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Edwards, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81632 | $1,135 | $2,095 | $3,835 | $7,770 | $14,035 |
Source: Ownwell