Falcon, Colorado Property Taxes
The median property tax rate in Falcon, CO is 0.70%, which is lower than the national median of 0.99% but higher than the Colorado state median of 0.55%. With the median home value in Falcon at $413,684, the typical annual property tax bill amounts to $2,912, surpassing the national median of $2,690. Property taxes in Falcon are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Falcon'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 Falcon 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
Falcon, 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 Falcon Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Falcon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Falcon 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 Falcon, Colorado
Property taxes in Falcon, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Falcon is 0.70%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Falcon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Falcon 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 Falcon's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80831 zip code has the highest median property tax rate of 0.70%, while the lowest median tax rate is also found in the 80831 zip code, standing at 0.70%. Understanding how these areas compare with Falcon provides valuable insights into the varying tax landscape across El Paso County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Falcon Tax Rate
0.70%
Average El Paso County Tax Rate
0.42%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Falcon, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80106 | N/A | N/A | N/A | N/A | N/A |
| 80831 | 0.70% | 0.70% | 0.70% | 0.70% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across Falcon, Colorado
In Falcon, 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 El Paso 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 Falcon, 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, Falcon has a median home price of $413,684, and the median tax bill ranges from $2,850 at the 25th percentile to $3,019 at the 90th percentile. The highest and lowest median tax bills are both found in the 80831 zip code, each amounting to $2,912. By understanding 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 Falcon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Falcon Assessed Value
$413,684
Average El Paso County Assessed Value
$319,355
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Falcon, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80106 | N/A | N/A | N/A | N/A | N/A |
| 80831 | $394,856 | $406,332 | $415,147 | $424,200 | $430,498 |
Source: Ownwell
Property Tax Bills Across Falcon, Colorado
In Falcon, located in El Paso County, CO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. For example, with a median home price of $413,684, homeowners can expect to pay property taxes in the range of $2,850 to $3,019, depending on various factors such as location and specific property characteristics. The median property tax bill in Falcon is $2,912, which is significantly lower than the national median property tax rate of 0.99%. This lower tax rate can be beneficial for homeowners, making Falcon an attractive place to live. However, it's important for homeowners to stay informed about their property's assessed value and any changes in the local tax rate, as these can impact their annual tax bill.
Average Falcon Tax Bill
$2,912
Average El Paso County Tax Bill
$1,379
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Falcon, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80106 | N/A | N/A | N/A | N/A | N/A |
| 80831 | $2,769 | $2,850 | $2,912 | $2,975 | $3,019 |
Source: Ownwell