Fraser, Colorado Property Taxes
The median property tax rate in Fraser, CO is 0.47%, considerably lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Fraser at $456,060, the typical annual property tax bill reaches $2,162, which is below the national median of $2,690. Property taxes in Fraser are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Fraser'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 Fraser or another part of Grand County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fraser, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$2,143
Ownwell’s Fraser Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fraser with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fraser 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 Fraser, Colorado
Property taxes in Fraser, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fraser is 0.47%, significantly lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Fraser set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fraser 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 Fraser's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80442 zip code has the highest median property tax rate of 0.47%, while the same zip code also has the lowest median tax rate of 0.47%. Understanding how these cities compare with Fraser provides valuable insights into the varying tax landscape across Grand County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fraser Tax Rate
0.47%
Average Grand County Tax Rate
0.46%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fraser, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80442 | 0.41% | 0.45% | 0.47% | 0.79% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Fraser, Colorado
In Fraser, 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 Grand 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 Fraser, 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 Fraser helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill in Fraser is 80442, with a median tax bill of $2,162.
Average Fraser Assessed Value
$456,060
Average Grand County Assessed Value
$403,230
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fraser, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80442 | $116,210 | $295,410 | $456,060 | $710,420 | $956,420 |
Source: Ownwell
Property Tax Bills Across Fraser, Colorado
In Fraser, located in Grand County, CO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the home's market value, reflecting its estimated selling price. The property tax rate in Fraser is then applied to this assessed value to determine the tax bill. For example, with a median home price of $456,060, homeowners can expect their tax bills to vary significantly. At the 25th percentile, the tax bill is $1,382, while at the 75th percentile, it rises to $4,086. The 90th percentile sees tax bills as high as $6,257. The highest median tax bill in the area is $2,162, which is notably lower than the national median property tax rate of 0.99%. These taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for homeowners. Understanding these factors helps residents anticipate their financial responsibilities and the benefits they receive from their contributions.
Average Fraser Tax Bill
$2,162
Average Grand County Tax Bill
$1,913
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Fraser, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80442 | $672 | $1,382 | $2,162 | $4,086 | $6,257 |
Source: Ownwell