Bailey, Jefferson County, Colorado Property Taxes
The median property tax rate in Bailey, CO is 0.61%, slightly higher than the Colorado state median of 0.55% but lower than the national median of 0.99%. With the median home value in Bailey at $743,617, the typical annual property tax bill reaches $4,573, significantly surpassing the national median of $2,690. Property taxes in Bailey 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 Bailey'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 Bailey 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
Bailey, Jefferson County, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$4,536
$4,209
Ownwell’s Bailey Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bailey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bailey 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 Bailey, Jefferson County, Colorado
Property taxes in Bailey, Colorado, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bailey is 0.61%, which is significantly lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Bailey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bailey 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 Bailey's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80421 zip code has both the highest and the lowest median property tax rate of 0.61%. Understanding how these areas compare with Bailey provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bailey Tax Rate
0.61%
Average Jefferson County Tax Rate
0.66%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bailey, Jefferson County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80421 | 0.61% | 0.61% | 0.61% | 0.78% | 2.57% |
Source: Ownwell
Property Tax Assessment Values Across Bailey, Jefferson County, Colorado
In Bailey, 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 Jefferson 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 Bailey, 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 Bailey stands at $743,617, with tax bills varying significantly. For instance, the 25th percentile tax bill is $3,975, while the 75th percentile tax bill is $5,437, and the 90th percentile tax bill reaches $6,176. The highest and lowest median tax bills are both found in the 80421 zip code, at $4,573. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Bailey, Jefferson County, Colorado
Source: Ownwell
$247,994
$528,030
$808,066
Average Bailey Assessed Value
$743,617
Average Jefferson County Assessed Value
$436,276
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bailey, Jefferson County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80421 | $148,878 | $317,696 | $743,617 | $803,442 | $1,004,354 |
Source: Ownwell
Property Tax Bills Across Bailey, Jefferson County, Colorado
In Bailey, located in Jefferson County, CO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the property's market value. For instance, with a median home price of $743,617, the tax bill can vary significantly. Homeowners in the 25th percentile can expect a tax bill around $3,975, while those in the 75th percentile might see bills as high as $5,437. The 90th percentile tax bill reaches approximately $6,176. These figures highlight the range homeowners might experience, influenced by factors such as property size, location, and improvements. Compared to the national median property tax rate of 0.99%, Jefferson County's tax rates can present a notable difference. Understanding these factors is crucial for homeowners, as property taxes can significantly impact annual expenses and long-term financial planning.
Average Bailey Tax Bill
$4,573
Average Jefferson County Tax Bill
$2,797
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Bailey, Jefferson County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80421 | $2,046 | $3,975 | $4,573 | $5,437 | $6,176 |
Source: Ownwell