Parker, Colorado Property Taxes
The median property tax rate in Parker, CO is 0.58%, slightly higher than the state median of 0.55% but lower than the national median of 0.99%. With a median home value of $592,578, the typical annual property tax bill in Parker reaches $3,364, surpassing the national median of $2,690. Property taxes in Parker are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Parker'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 Parker or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Parker, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$3,437
Ownwell’s Parker Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Parker with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Parker 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 Parker, Colorado
Property taxes in Parker, Colorado, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Parker is 0.58%, which is lower than the U.S. national median of 0.99%. Local government entities within Parker set these rates annually, and they can vary significantly across different neighborhoods. Each year, Parker 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 Parker's effective property tax rate to other areas in Elbert County and the national median. For comparison, the 80138 zip code has the highest median property tax rate of 0.58%, while the 80134 zip code has the lowest median tax rate of 0.56%. Understanding how these areas compare with Parker 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 Parker Tax Rate
0.58%
Average Elbert County Tax Rate
0.56%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Parker, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80134 | 0.31% | 0.54% | 0.56% | 0.61% | 0.65% |
| 80138 | 0.47% | 0.53% | 0.58% | 0.62% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Parker, Colorado
In Parker, 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 Parker, 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. For instance, the highest median tax bill is $3,365 in the 80138 zip code, while the lowest median tax bill is $2,419 in the 80134 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Parker Assessed Value
$592,578
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 Parker, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80134 | $161,400 | $299,564 | $345,269 | $962,775 | $1,391,796 |
| 80138 | $459,160 | $514,640 | $592,749 | $732,500 | $872,160 |
Source: Ownwell
Property Tax Bills Across Parker, Colorado
In Parker, located in Elbert County, CO, property tax bills are calculated based on the assessed value of a home. The county assessor determines this value, which is a percentage of the property's market value. For example, if the median home price is $592,578, the assessed value would be a fraction of this amount as determined by local assessment rates. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. Several factors influence this calculation, including the property's location, improvements made to the property, and any applicable exemptions. Homeowners in Parker can expect varying tax bills: the 25th percentile tax bill is $2,762, while the 75th percentile reaches $4,428, and the 90th percentile can go as high as $8,060. The highest median tax bill in Parker is $3,365 in the 80138 zip code, whereas the lowest is $2,419 in the 80134 zip code. These property taxes support local services like schools, emergency services, and infrastructure, directly impacting homeowners and their community.
Average Parker Tax Bill
$3,364
Average Elbert County Tax Bill
$2,641
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Parker, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80134 | $963 | $1,809 | $2,419 | $5,347 | $7,508 |
| 80138 | $2,311 | $2,764 | $3,365 | $4,427 | $8,060 |
Source: Ownwell