Leadville, Colorado Property Taxes
The median property tax rate in Leadville, CO is 0.63%, which is higher than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Leadville at $250,181, the typical annual property tax bill reaches $1,664, which is below the national median of $2,690. Property taxes in Leadville are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Leadville'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 Leadville 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
Leadville, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$1,576
$1,463
Ownwell’s Leadville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Leadville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Leadville 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 Leadville, Colorado
Property taxes in Leadville, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Leadville is 0.63%, lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Leadville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Leadville 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 cities compare with Leadville provides valuable insights into the varying tax landscape across Lake County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Leadville Tax Rate
0.63%
Average Lake County Tax Rate
0.63%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Leadville, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80461 | 0.61% | 0.62% | 0.63% | 0.77% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Leadville, Colorado
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Leadville, Colorado. 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 Lake 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 Leadville, 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 Leadville is $250,181, with tax bills ranging from the 25th percentile at $836 to the 90th percentile at $3,070. Notably, the highest and lowest median tax bills are both $1,664, found in the 80461 zip code. 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 Leadville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Leadville Assessed Value
$250,181
Average Lake County Assessed Value
$254,269
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Leadville, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80461 | $22,631 | $133,724 | $250,181 | $356,126 | $464,109 |
Source: Ownwell
Property Tax Bills Across Leadville, Colorado
In Leadville, property tax bills are calculated based on the assessed value of your home, which is derived from its market value. The median home price in Leadville is $250,181. Property taxes are determined by multiplying the assessed value by the local tax rate. Factors such as property location, size, and any applicable exemptions can influence the final tax bill. For instance, the 25th percentile tax bill in Leadville is $836, while the 75th percentile tax bill is $2,395. At the 90th percentile, homeowners might see bills as high as $3,070. Comparing this to the national median property tax rate of 0.99%, Leadville's property tax bills reflect the unique characteristics of the local real estate market and tax policies. Understanding these factors is crucial for homeowners, as property taxes can significantly impact annual housing costs. High property taxes might affect affordability, while lower taxes could make homeownership more attainable.
Average Leadville Tax Bill
$1,664
Average Lake County Tax Bill
$1,697
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Leadville, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80461 | $175 | $836 | $1,664 | $2,395 | $3,070 |
Source: Ownwell