Lakewood, Colorado Property Taxes
The median property tax rate in Lakewood, CO is 0.64%, which is lower than the national median of 0.99% but higher than the Colorado state median of 0.55%. With a median home value of $413,314 in Lakewood, the typical annual property tax bill amounts to $2,556, falling below the national median of $2,690. Property taxes in Lakewood are calculated based on the assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Lakewood'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 Lakewood 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
Lakewood, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$2,645
Ownwell’s Lakewood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lakewood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lakewood 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 Jefferson County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Lakewood, Colorado
Property taxes in Lakewood, Colorado, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Lakewood is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Lakewood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lakewood 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 Lakewood's effective property tax rate to other areas in Colorado and the national median. For comparison, the 80227 zip code has the highest median property tax rate of 0.67%, while the 80228 zip code has the lowest median tax rate of 0.64%. Understanding how these areas compare with Lakewood 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 Lakewood Tax Rate
0.64%
Average Jefferson County Tax Rate
0.66%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lakewood, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80214 | 0.50% | 0.64% | 0.64% | 0.65% | 0.67% |
| 80215 | 0.51% | 0.63% | 0.64% | 0.68% | 0.69% |
| 80226 | 0.49% | 0.64% | 0.64% | 0.68% | 0.69% |
| 80227 | 0.51% | 0.65% | 0.67% | 0.67% | 0.67% |
| 80228 | 0.50% | 0.64% | 0.64% | 0.64% | 0.64% |
| 80232 | 0.48% | 0.65% | 0.65% | 0.65% | 0.68% |
| 80235 | 0.54% | 0.61% | 0.64% | 0.64% | 0.71% |
| 80401 | 0.48% | 0.63% | 0.64% | 0.64% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Lakewood, Colorado
In Lakewood, 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 Appraisal District 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 Lakewood, 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 Lakewood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in Lakewood is $4,242 in the 80235 zip code, while the lowest is $2,391 in the 80227 zip code.
Average Lakewood Assessed Value
$413,314
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 Lakewood, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80214 | $185,676 | $285,709 | $386,472 | $462,690 | $547,590 |
| 80215 | $275,327 | $386,839 | $476,144 | $574,843 | $666,981 |
| 80226 | $255,853 | $337,307 | $399,850 | $451,593 | $514,569 |
| 80227 | $221,648 | $259,690 | $396,207 | $497,971 | $613,488 |
| 80228 | $249,340 | $357,902 | $444,844 | $512,047 | $682,320 |
| 80232 | $270,208 | $338,926 | $382,803 | $422,996 | $467,093 |
| 80235 | $40,000 | $588,564 | $662,504 | $725,827 | $787,067 |
| 80401 | $304,440 | $348,714 | $393,564 | $433,094 | $492,519 |
Source: Ownwell
Property Tax Bills Across Lakewood, Colorado
In Lakewood, Jefferson County, CO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, a home with a median price of $413,314 will have its assessed value determined by the local assessment rate. This assessed value is then multiplied by the local tax rate, which varies across different areas within the county. Several factors influence the final tax bill, including property location, local tax levies, and specific exemptions or reductions homeowners may qualify for. In Lakewood, the median property tax bill is reflective of these assessments and levies, with the 25th percentile of tax bills around $1,932 and the 75th percentile at approximately $3,092. For homeowners in the highest tax bracket, bills can reach up to $3,968, while the highest median tax bill in the area is $4,242 in zip code 80235. Understanding these calculations helps homeowners anticipate their financial obligations and plan accordingly, ensuring they are prepared for their annual property tax payments.
Average Lakewood Tax Bill
$2,556
Average Jefferson County Tax Bill
$2,797
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Lakewood, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80214 | $1,191 | $1,786 | $2,400 | $3,059 | $3,895 |
| 80215 | $1,673 | $2,285 | $2,993 | $3,758 | $4,566 |
| 80226 | $1,484 | $2,017 | $2,500 | $2,904 | $3,408 |
| 80227 | $1,442 | $1,690 | $2,391 | $3,203 | $4,132 |
| 80228 | $1,548 | $2,058 | $2,736 | $3,234 | $4,639 |
| 80232 | $1,637 | $1,914 | $2,404 | $2,711 | $3,058 |
| 80235 | $3,485 | $3,789 | $4,242 | $4,683 | $5,353 |
| 80401 | $1,818 | $2,014 | $2,434 | $2,760 | $3,174 |
Source: Ownwell