Penrose, Fremont County, Colorado Property Taxes

Name: Property Tax Bills Across Penrose, Fremont County, Colorado
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Penrose, CO effective property tax rate: 0.50%, significantly lower than the national median of 1.02%, but lower than the Colorado state median of 0.55%.
Median Penrose, CO home value: $212,007
Median annual Penrose, CO tax bill: $946, $1,454 lower than the national median property tax bill of $2,400.

How are property taxes in Fremont County calculated?

Property taxes in Penrose, CO are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Penrose’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Penrose, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Penrose, Fremont County, Colorado Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.5%

Estimate Property Tax Bill

$1,060

$984

Ownwell’s Penrose Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Penrose with just two data points. By entering your property's estimated assessed value, our calculator applies Penrose’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Fremont County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Penrose, Fremont County, Colorado

Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. In Penrose, located in Fremont County, Colorado, the effective property tax rate is notably lower than both the state and national medians. With a median property tax rate of 0.50%, Penrose stands out for its affordability compared to the national median property tax rate of 1.02%. This provides a significant advantage for homeowners in Penrose, as they enjoy lower property tax bills relative to many other regions. The consistency of the tax rate across Fremont County ensures that residents can plan their finances with more predictability. For those looking to purchase property in Colorado, Penrose offers an appealing option with its competitive property tax rates, making it an attractive choice for cost-conscious buyers.

Property Tax Rates Across Penrose, Fremont County, Colorado

Source: Ownwell

0.33%

0.46%

0.59%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Penrose Tax Rate

0.50%

Median Effective Fremont County Tax Rate

0.55%

Median Effective Colorado Tax Rate

0.55%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Penrose, Fremont County, Colorado

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
81240	0.31%	0.45%	0.50%	0.51%	0.51%

Source: Ownwell

Property Tax Assessment Values Across Penrose, Fremont County, Colorado

When examining property taxes in Penrose, Colorado, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Fremont County Assessor estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Fremont County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Penrose.

For example, the median home price in Penrose is $212,007, with tax bills ranging significantly across the county. Zip code 81240 has the highest median home price at $212,007.

Property Tax Assessment Values Across Penrose, Fremont County, Colorado

Source: Ownwell

$129,027

$301,156

$473,285

Median Penrose Market Value

$212,007

Median Fremont County Market Value

$205,831

Median Colorado Market Value

$405,540

Median United States Market Value

$235,294

Property Tax Assessment Values Across Penrose, Fremont County, Colorado

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
81240	$9,034	$52,258	$212,007	$312,672	$427,280

Source: Ownwell

Property Tax Bills Across Penrose, Fremont County, Colorado

In Penrose, located in Fremont County, Colorado, property tax bills are determined by assessing the market value of a home and applying the local tax rate. With a median home price of $212,007, homeowners can expect varying tax bills depending on their property's assessed value. For example, the tax bill at the 25th percentile is $251, while at the 75th percentile, it rises to $1,476. The 90th percentile sees tax bills reaching $2,054. This range highlights the impact of property value fluctuations and local tax rates on homeowners' financial obligations. Compared to the national median property tax bill of $2,400, Penrose's tax bills are relatively moderate, offering some relief to homeowners. However, even moderate tax bills can strain budgets, making it essential for homeowners to explore potential savings. Ownwell specializes in property tax appeal and exemption services, helping homeowners reduce their tax burden by ensuring their property is accurately assessed and identifying potential exemptions, ultimately leading to significant savings.

Property Tax Bills Across Penrose, Fremont County, Colorado

Source: Ownwell

$439

$1,175

$1,910

Median Penrose Tax Bill

$946

Median Fremont County Tax Bill

$1,012

Median Colorado Tax Bill

$2,283

Median United States Tax Bill

$2,400

Property Tax Bills Across Penrose, Fremont County, Colorado

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
81240	$43	$251	$946	$1,476	$2,054

Source: Ownwell