Winter Park, Colorado Property Taxes
The median property tax rate in Winter Park, CO is 0.46%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Winter Park at $451,980, the typical annual property tax bill is $2,250, which is below the national median of $2,690. Property taxes in Winter Park 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 Winter Park'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 Winter Park 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
Winter Park, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.46%
Estimate Property Tax Bill
$2,079
Ownwell’s Winter Park Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Winter Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Winter Park 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 Grand County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Winter Park, Colorado
Property taxes in Winter Park, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Winter Park is 0.46%, significantly lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Winter Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Winter Park 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 Winter Park's effective property tax rate to other counties in Colorado and the national median. For comparison, the zip code 80482 has the highest median property tax rate of 0.46%, while the same zip code also has the lowest median tax rate of 0.46%. Understanding how these cities compare with Winter Park 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 Winter Park Tax Rate
0.46%
Average Grand County Tax Rate
0.46%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Winter Park, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80482 | 0.46% | 0.46% | 0.46% | 0.47% | 0.67% |
Source: Ownwell
Property Tax Assessment Values Across Winter Park, Colorado
In Winter Park, 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's Office 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 Winter Park, 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. Notably, the zip code 80482 has both the highest and lowest median tax bill at $2,250. Being aware of these valuation processes in Winter Park helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Winter Park Assessed Value
$451,980
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 Winter Park, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80482 | $200,430 | $320,880 | $451,980 | $719,600 | $1,061,848 |
Source: Ownwell
Property Tax Bills Across Winter Park, Colorado
In Winter Park, located in Grand County, CO, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. The median home price in Winter Park stands at $451,980. Property taxes in this region can vary significantly, with the 25th percentile tax bill at $1,607 and the 75th percentile reaching $3,555. For those in the 90th percentile, tax bills can go up to $5,232. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions. Homeowners in Winter Park should be aware that their property tax obligations can impact their overall financial planning. With the national median property tax rate at 0.99%, Winter Park's property taxes can be considered moderate but can still vary widely depending on specific property assessments. Understanding these factors can help homeowners better anticipate and manage their annual tax responsibilities.
Average Winter Park Tax Bill
$2,250
Average Grand County Tax Bill
$1,913
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Winter Park, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80482 | $1,087 | $1,607 | $2,250 | $3,555 | $5,232 |
Source: Ownwell