Peyton, Colorado Property Taxes
The median property tax rate in Peyton, CO is 0.48%, significantly lower than the national median of 0.99% and the Colorado state median of 0.55%. With a median home value of $369,982 in Peyton, the typical annual property tax bill amounts to $2,038, which is below the national median of $2,690. Property taxes in Peyton are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Peyton's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Peyton 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
Peyton, 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 Peyton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Peyton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Peyton 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 Peyton, Colorado
Property taxes in Peyton, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Peyton is 0.48%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Peyton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Peyton 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 Peyton's effective property tax rate to other areas in Colorado and the national median. For comparison, the 80831 zip code has the highest median property tax rate of 0.48%, while the 80930 zip code has the lowest median tax rate of 0.48%. Understanding how these areas compare with Peyton 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 Peyton Tax Rate
0.48%
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 Peyton, 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 | 0.32% | 0.48% | 0.48% | 0.70% | 0.84% |
| 80908 | N/A | N/A | N/A | N/A | N/A |
| 80923 | N/A | N/A | N/A | N/A | N/A |
| 80928 | N/A | N/A | N/A | N/A | N/A |
| 80930 | 0.48% | 0.48% | 0.48% | 0.48% | 0.48% |
| 80938 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Peyton, Colorado
In Peyton, 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 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 Peyton, 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 highest median tax bill in the region is $2,974 in the 80930 zip code, while the lowest median tax bill is $2,038 in the 80831 zip code. 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 Peyton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Peyton Assessed Value
$369,982
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 Peyton, 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 | $173,792 | $298,469 | $370,728 | $424,501 | $496,733 |
| 80908 | N/A | N/A | N/A | N/A | N/A |
| 80923 | N/A | N/A | N/A | N/A | N/A |
| 80928 | N/A | N/A | N/A | N/A | N/A |
| 80930 | $616,207 | $616,207 | $616,207 | $616,207 | $616,207 |
| 80938 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Peyton, Colorado
In Peyton, located in El Paso County, CO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the property's market value. Homeowners in Peyton face a range of property tax bills, influenced by factors such as property location, home size, and market conditions. For instance, the median home price in Peyton is $369,982, and property tax bills can vary significantly. At the 25th percentile, homeowners might pay around $1,428, while those at the 75th percentile could see bills as high as $2,723. The 90th percentile tax bill can reach up to $3,283. Comparatively, the highest median tax bill in the area is $2,974 in the 80930 zip code, while the lowest is $2,038 in the 80831 zip code. These figures illustrate how property taxes can impact homeowners differently, depending on their specific circumstances and property values. Understanding these factors is crucial for homeowners aiming to manage their property tax obligations effectively.
Average Peyton Tax Bill
$2,038
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 Peyton, 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 | $1,004 | $1,428 | $2,038 | $2,723 | $3,284 |
| 80908 | N/A | N/A | N/A | N/A | N/A |
| 80923 | N/A | N/A | N/A | N/A | N/A |
| 80928 | N/A | N/A | N/A | N/A | N/A |
| 80930 | $2,974 | $2,974 | $2,974 | $2,974 | $2,974 |
| 80938 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell