Edwards Area, Colorado Property Taxes
The median property tax rate in Edwards Area, CO is 0.42%, considerably lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Edwards Area at $1,712,750, the typical annual property tax bill reaches $8,058, exceeding the national median of $2,690. Property taxes in Edwards 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 Edwards 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 Edwards 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
Edwards Area, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.42%
Estimate Property Tax Bill
$7,194
Ownwell’s Edwards Area Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in the Edwards Area with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in the Edwards Area to project your property tax bill. This valuable tool provides insight into potential tax liabilities. If you’re interested in exploring trends on a neighborhood level, scroll down for more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Edwards Area, Colorado
Property taxes in Edwards Area, Colorado, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Edwards Area is 0.42%, lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Edwards Area set these rates annually, and they can vary significantly across different neighborhoods. Each year, Edwards 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 Edwards Area's effective property tax rate to other counties in Colorado and the national median. Understanding how these cities compare with Edwards 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 Edwards Area Tax Rate
0.42%
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 Area, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Edwards Area, Colorado
In the Edwards 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 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 Edwards 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 instance, the median home price in the Edwards Area is $1,712,750, with tax bills ranging from $3,455 at the 25th percentile to $17,824 at the 90th percentile. 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 Edwards Area helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Edwards Area, Colorado
Source: Ownwell
$44,100
$1,243,965
$2,443,830
Average Edwards Area Assessed Value
$1,712,750
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 Area, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Edwards Area, Colorado
In the Edwards area of Eagle County, CO, property tax bills are determined through a detailed process that considers both the assessed value of the property and the applicable tax rate. The median home price in this region is $1,712,750, significantly higher than the national average. This elevated market value contributes to substantial property tax bills for homeowners. The tax rate in this area is applied to the assessed value of the property, which is typically a percentage of the market value. For homeowners in Edwards, the 25th percentile tax bill is around $3,455, while those in the 75th percentile face bills as high as $13,334. The top 10% of property tax bills can reach up to $17,824. These figures illustrate the financial impact on residents, with higher-value properties incurring considerably larger tax obligations. This system ensures that the tax burden is proportionate to property value, aligning with the principle that those with more valuable properties contribute more in taxes.
Average Edwards Area Tax Bill
$8,058
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 Area, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell