Silverthorne, Colorado Property Taxes
The median property tax rate in Silverthorne, CO is 0.54%, slightly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With a median home value of $430,150 in Silverthorne, the typical annual property tax bill amounts to $2,168, which is below the national median of $2,690. Property taxes in Silverthorne are calculated based on the tax assessed value, often lower than the market value due to exemptions such as the primary residence and agricultural exemptions. Gaining a thorough understanding of Silverthorne'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 Silverthorne or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Silverthorne, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$2,323
$2,156
Ownwell’s Silverthorne Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Silverthorne with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Silverthorne 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 Silverthorne, Colorado
Property taxes in Silverthorne, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Silverthorne is 0.54%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Silverthorne set these rates annually, and they can vary across different neighborhoods. Each year, Silverthorne 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. Understanding how these rates are determined can help homeowners anticipate their property tax obligations. For comparison, Silverthorne's effective property tax rate stands at 0.54%, which is consistent across the area, including the zip code 80498. This uniformity provides a clear picture of the property tax landscape within Grand County, helping homeowners understand their tax obligations relative to the national median.
Average Silverthorne Tax Rate
0.54%
Average Grand County Tax Rate
0.46%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Silverthorne, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80498 | 0.47% | 0.47% | 0.54% | 0.54% | 0.54% |
Source: Ownwell
Property Tax Assessment Values Across Silverthorne, Colorado
In Silverthorne, 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 Silverthorne, 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. The median home price in Silverthorne is $430,150, with tax bills ranging from $1,750 at the 25th percentile to $2,872 at the 75th percentile, and up to $3,386 at the 90th percentile. 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 Silverthorne helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Silverthorne Assessed Value
$430,150
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 Silverthorne, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80498 | $255,374 | $343,470 | $430,150 | $557,128 | $629,393 |
Source: Ownwell
Property Tax Bills Across Silverthorne, Colorado
In Silverthorne, located in Grand County, CO, property tax bills are determined based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the market value of the property, which is determined by the county assessor. Factors such as property size, location, and market conditions influence the assessed value. For a median home price of $430,150, homeowners in Silverthorne can expect property tax bills to vary significantly. At the 25th percentile, the tax bill is around $1,750, while at the 75th percentile, it rises to approximately $2,872. The top 10% of tax bills can reach up to $3,386. The median tax bill in the zip code 80498 is $2,168, which is above the national median property tax rate of 0.99%. These property tax bills can considerably impact homeowners, influencing their monthly expenses and overall affordability of owning a home in Silverthorne. Understanding these factors helps homeowners better plan for their financial obligations.
Average Silverthorne Tax Bill
$2,168
Average Grand County Tax Bill
$1,913
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Silverthorne, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80498 | $1,163 | $1,750 | $2,168 | $2,872 | $3,386 |
Source: Ownwell