Agate, Colorado Property Taxes
The median property tax rate in Agate, CO is 0.40%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With a median home value of $226,515 in Agate, the typical annual property tax bill amounts to $954, which is well below the national median of $2,690. Property taxes in Agate are calculated based on the tax assessed value, which often falls below market value due to exemptions like the primary residence and agricultural exemptions. Understanding Agate'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 Agate 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
Agate, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$906
$841
Ownwell’s Agate Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Agate with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Agate 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 Agate, Colorado
Property taxes in Agate, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Agate is 0.40%, significantly lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Agate set these rates annually, and they can vary significantly across different neighborhoods. Each year, Agate 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 Agate's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80101 zip code has both the highest and lowest median property tax rate of 0.40%. Understanding how these cities compare with Agate provides valuable insights into the varying tax landscape across Elbert County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Agate Tax Rate
0.40%
Average Elbert County Tax Rate
0.56%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Agate, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80101 | 0.31% | 0.40% | 0.40% | 0.44% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Agate, Colorado
In Agate, 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 Elbert 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 Agate, 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. Being aware of these valuation processes in Agate helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 80101 has the highest and lowest median tax bill, both at $954.
Average Agate Assessed Value
$226,515
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 Agate, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80101 | $30,527 | $99,962 | $226,515 | $346,874 | $453,636 |
Source: Ownwell
Property Tax Bills Across Agate, Colorado
In Agate, located in Elbert County, CO, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor. The assessed value is a percentage of the market value of your property. Once the assessed value is established, the local tax rate is applied to calculate your annual property tax bill. For homeowners in Agate, the median home price is $226,515. Property tax bills can vary significantly, with the 25th percentile at $402 and the 75th percentile reaching $1,451. At the 90th percentile, homeowners might see tax bills as high as $1,962. Compared to the national median property tax rate of 0.99%, these figures reflect the local tax rate and assessed values in Elbert County. Homeowners should be aware that these taxes fund essential services such as schools, public safety, and infrastructure. Understanding how these factors contribute to your property tax bill can help you anticipate annual costs and manage your budget effectively.
Average Agate Tax Bill
$954
Average Elbert County Tax Bill
$2,641
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Agate, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80101 | $135 | $402 | $954 | $1,451 | $1,962 |
Source: Ownwell