Minturn, Colorado Property Taxes
The median property tax rate in Minturn, CO is 0.51%, considerably lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Minturn, the typical annual property tax bill reaches $2,946, which exceeds the national median of $2,690. Property taxes in Minturn 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 Minturn'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 Minturn 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
Minturn, Colorado Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$1,100
Ownwell’s Minturn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Minturn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Minturn 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 Minturn, Colorado
Property taxes in Minturn, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Minturn is 0.51%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Minturn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Minturn 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 Minturn's effective property tax rate to other counties in Colorado and the national median. For comparison, the 81645 zip code has the highest median property tax rate of 0.51%, while the same zip code also has the lowest median tax rate of 0.51%. Understanding how these cities compare with Minturn 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 Minturn Tax Rate
0.51%
Average Eagle County Tax Rate
0.44%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Minturn, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81645 | 0.50% | 0.51% | 0.51% | 0.51% | 0.52% |
Source: Ownwell
Property Tax Assessment Values Across Minturn, Colorado
In Minturn, 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 Minturn, 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. The median home price in Minturn is $571,100, and the tax bills range from $2,030 at the 25th percentile to $5,852 at the 90th percentile. Being aware of these valuation processes in Minturn helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 81645 has both the highest and lowest median tax bill of $2,946.
Average Minturn Assessed Value
$571,100
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 Minturn, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81645 | $106,633 | $371,845 | $571,100 | $797,558 | $1,148,536 |
Source: Ownwell
Property Tax Bills Across Minturn, Colorado
In Minturn, located in 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, reflecting current real estate trends. Homeowners in Minturn can expect their tax bills to vary significantly, with the 25th percentile tax bill around $2,030 and the 75th percentile reaching $4,168. At the higher end, the 90th percentile tax bill can go up to $5,852. The median home price in Minturn is $571,100, which plays a crucial role in determining the tax bill. Compared to the national median property tax rate of 0.99%, Minturn's tax rates can lead to substantial annual expenses for homeowners. The highest median tax bill in the area is $2,946, which is consistent across the zip code 81645. These property taxes fund essential public services like schools, emergency services, and infrastructure, directly impacting the quality of life for residents.
Average Minturn Tax Bill
$2,946
Average Eagle County Tax Bill
$3,388
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Minturn, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81645 | $903 | $2,030 | $2,946 | $4,168 | $5,852 |
Source: Ownwell