Deer Trail, Colorado Property Taxes
The median property tax rate in Deer Trail, CO is 0.41%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With a median home value of $316,868 in Deer Trail, the typical annual property tax bill amounts to $1,294, well below the national median of $2,690. Property taxes in Deer Trail 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 Deer Trail'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 Deer Trail 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
Deer Trail, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.41%
Estimate Property Tax Bill
$1,299
$1,206
Ownwell’s Deer Trail Property Tax Bill Calculator assists homeowners, real estate investors, or potential buyers in estimating their annual property taxes in Deer Trail with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Deer Trail to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is the value assigned by Elbert County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Deer Trail, Colorado
Property taxes in Deer Trail, Colorado, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Deer Trail is 0.41%, significantly lower than the U.S. national median of 0.99%. Local government entities within Deer Trail set these rates annually, and they can vary across different neighborhoods. Each year, Deer Trail 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 Deer Trail's effective property tax rate to other areas in Colorado and the national median. For comparison, the zip code 80105 has the highest median property tax rate of 0.41%, while the same zip code also has the lowest median tax rate of 0.41%. Understanding how these figures compare with Deer Trail 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 Deer Trail Tax Rate
0.41%
Average Elbert County Tax Rate
0.56%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Deer Trail, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80105 | 0.29% | 0.39% | 0.41% | 0.41% | 0.44% |
Source: Ownwell
Property Tax Assessment Values Across Deer Trail, Colorado
In Deer Trail, 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 Deer Trail, 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 Deer Trail helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the median tax bill in the 80105 zip code stands at $1,294, highlighting the area's property tax landscape.
Average Deer Trail Assessed Value
$316,868
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 Deer Trail, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80105 | $75,432 | $222,517 | $316,868 | $395,669 | $466,673 |
Source: Ownwell
Property Tax Bills Across Deer Trail, Colorado
In Deer Trail, located in Elbert County, CO, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the market value, which is determined by local assessors. Once the assessed value is established, the tax rate is applied to calculate the annual property tax bill. Factors such as property location, market trends, and any applicable exemptions play a significant role in determining the final tax amount. For instance, the median home price in Deer Trail is $316,868. Homeowners in the 25th percentile of tax bills pay around $826 annually, while those in the 75th percentile pay approximately $1,620. The 90th percentile sees tax bills reaching up to $1,863. Comparatively, the national median property tax rate is 0.99%, making Deer Trail's property tax landscape relatively moderate. Understanding these factors is crucial for homeowners as they directly influence annual financial obligations and overall home affordability.
Average Deer Trail Tax Bill
$1,294
Average Elbert County Tax Bill
$2,641
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Deer Trail, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80105 | $309 | $826 | $1,294 | $1,620 | $1,863 |
Source: Ownwell