Elbert County Property Taxes
The median property tax rate in Elbert County is 0.56%, which is slightly higher than the Colorado state median of 0.55% but lower than the national median of 0.99%. With the median home value in Elbert County at $469,640, the typical annual property tax bill amounts to $2,641, just below the national median of $2,690. Property taxes in Elbert County are calculated based on the tax assessed value, which is often lower than the actual market value due to various property tax exemptions such as those for primary residences and agricultural properties. Understanding Elbert County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can lead to significant annual savings. Whether you reside in a city or another part of Elbert County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Elbert County 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 Elbert County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Elbert County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Elbert County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Elbert County, Colorado
Property taxes in Elbert County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Elbert County is 0.56%, which is lower than the U.S. national median of 0.99%. Local government entities within Elbert County set these rates annually, and they can vary significantly between different areas within the county. Each year, Elbert County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Elbert County's effective property tax rate with other areas in Colorado and the national median. For comparison, the city of Simla has one of the higher property tax rates in Colorado at 0.62%, while the city of Agate boasts one of the lowest at 0.40%. Analyzing how Elbert County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Elbert County Tax Rate
0.56%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elbert County, Colorado
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Agate | 0.31% | 0.40% | 0.40% | 0.44% | 0.56% |
| Bennett | 0.42% | 0.42% | 0.42% | 0.46% | 0.55% |
| Byers | 0.37% | 0.37% | 0.37% | 0.37% | 0.37% |
| Calhan | 0.42% | 0.43% | 0.53% | 0.58% | 0.65% |
| Deer Trail | 0.29% | 0.39% | 0.41% | 0.41% | 0.44% |
| Elbert | 0.39% | 0.48% | 0.48% | 0.55% | 0.63% |
| Elizabeth | 0.46% | 0.56% | 0.56% | 0.71% | 1.01% |
| Franktown | 0.27% | 0.45% | 0.52% | 0.56% | 0.58% |
| Kiowa | 0.33% | 0.42% | 0.45% | 0.51% | 0.56% |
| Limon | 0.34% | 0.45% | 0.48% | 0.57% | 0.63% |
| Matheson | 0.37% | 0.49% | 0.50% | 0.56% | 0.70% |
| Parker | 0.47% | 0.53% | 0.58% | 0.62% | 0.99% |
| Peyton | 0.37% | 0.41% | 0.49% | 0.49% | 0.49% |
| Ramah | 0.40% | 0.42% | 0.49% | 0.55% | 0.71% |
| Rush | N/A | N/A | N/A | N/A | N/A |
| Simla | 0.31% | 0.50% | 0.62% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Elbert County, Colorado
In Elbert County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Elbert County Appraisal District. The assessed value, however, 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. Assessment notices in Elbert County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Byers has the highest median tax bill at $3,533, while Matheson has the lowest at $697. Being aware of these valuation processes in Elbert County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Elbert County, Colorado
Source: Ownwell
$134,650
$542,325
$950,000
Average Elbert County Assessed Value
$469,640
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Elbert County, Colorado
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Agate | $30,527 | $99,962 | $226,515 | $346,874 | $453,636 |
| Bennett | $214,796 | $391,380 | $522,946 | $635,100 | $749,300 |
| Byers | $950,000 | $950,000 | $950,000 | $950,000 | $950,000 |
| Calhan | $130,559 | $259,492 | $341,756 | $501,702 | $555,059 |
| Deer Trail | $75,432 | $222,517 | $316,868 | $395,669 | $466,673 |
| Elbert | $143,157 | $229,596 | $386,211 | $509,850 | $642,698 |
| Elizabeth | $282,038 | $391,432 | $480,663 | $585,025 | $700,581 |
| Franktown | $164,383 | $295,003 | $407,566 | $500,883 | $591,644 |
| Kiowa | $102,388 | $269,700 | $380,660 | $492,409 | $611,357 |
| Limon | $80,848 | $160,642 | $273,689 | $356,724 | $429,274 |
| Matheson | $9,608 | $49,920 | $134,650 | $224,246 | $354,063 |
| Parker | $458,025 | $514,480 | $592,578 | $732,842 | $876,000 |
| Peyton | $241,746 | $318,596 | $419,628 | $496,910 | $589,769 |
| Ramah | $86,878 | $182,591 | $299,952 | $417,175 | $544,859 |
| Rush | N/A | N/A | N/A | N/A | N/A |
| Simla | $9,780 | $48,604 | $146,739 | $226,532 | $332,415 |
Source: Ownwell
Property Tax Bills Across Elbert County, Colorado
In Elbert County, CO, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is determined by the county assessor and is typically a percentage of the property's market value. For homeowners in Elbert County, the median home price is $469,640. The property tax rate is then applied to this assessed value to calculate the tax bill. Various factors influence the tax bill, including the home's market value, the assessment ratio, and any applicable exemptions. Homeowners in Elbert County can expect their tax bills to vary significantly. For instance, the 25th percentile tax bill is around $1,777, while the 75th percentile tax bill is approximately $3,579. At the higher end, the 90th percentile tax bill reaches about $5,019. Comparatively, the city of Byers has the highest median tax bill at $3,533, while Matheson has the lowest at $697. These variations reflect differences in property values and local tax rates within the county. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan accordingly.
Average Elbert County Tax Bill
$2,641
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Elbert County, Colorado
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Agate | $135 | $402 | $954 | $1,451 | $1,962 |
| Bennett | $911 | $1,742 | $2,328 | $2,796 | $3,147 |
| Byers | $3,533 | $3,533 | $3,533 | $3,533 | $3,533 |
| Calhan | $942 | $1,317 | $1,937 | $2,508 | $3,143 |
| Deer Trail | $309 | $826 | $1,294 | $1,620 | $1,863 |
| Elbert | $758 | $1,161 | $1,913 | $2,510 | $3,226 |
| Elizabeth | $1,666 | $2,282 | $2,893 | $3,965 | $5,188 |
| Franktown | $838 | $1,308 | $2,100 | $2,819 | $3,226 |
| Kiowa | $445 | $1,177 | $1,723 | $2,252 | $2,995 |
| Limon | $361 | $811 | $1,305 | $1,840 | $2,234 |
| Matheson | $39 | $256 | $697 | $1,353 | $1,890 |
| Parker | $2,307 | $2,762 | $3,364 | $4,428 | $8,060 |
| Peyton | $1,144 | $1,418 | $1,977 | $2,389 | $2,633 |
| Ramah | $442 | $952 | $1,432 | $1,959 | $2,528 |
| Rush | N/A | N/A | N/A | N/A | N/A |
| Simla | $90 | $428 | $884 | $1,377 | $1,810 |
Source: Ownwell