Drake, Larimer County, Colorado Property Taxes

Name: Property Tax Bills Across Drake, Larimer County, Colorado
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Drake, CO effective property tax rate: 0.60%, significantly lower than the national median of 1.02%, but higher than the Colorado state median of 0.55%.
Median Drake, CO home value: $286,600
Median annual Drake, CO tax bill: $1,685, $715 lower than the national median property tax bill of $2,400.

How are property taxes in Larimer calculated?

Property taxes in Drake, CO are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Drake’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Drake, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Drake, Larimer County, Colorado Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.6%

Estimate Property Tax Bill

$1,720

$1,596

Ownwell’s Drake Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Drake with just two data points.

By entering your property's estimated assessed value, our calculator applies Drake’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.

This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Larimer County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Drake, Larimer County, Colorado

Local government entities set property tax rates, which can vary widely within a state. The process involves each county estimating its required budget to provide services and dividing that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. In Drake, located in Larimer County, Colorado, the effective property tax rate is 0.60%, which is notably lower than the national median property tax rate of 1.02%. This makes Drake an attractive option for property owners looking to minimize their property tax expenses. Compared to other cities in Colorado, Drake's tax rate is quite competitive, offering potential savings for homeowners. The lower tax rate can significantly impact the overall cost of owning property, making it a desirable location for those seeking affordability. With property taxes being a significant expense for homeowners, understanding the local tax landscape is essential for making informed decisions.

Property Tax Rates Across Drake, Larimer County, Colorado

Source: Ownwell

0.50%

0.90%

1.30%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Drake Tax Rate

0.60%

Median Effective Larimer County Tax Rate

0.66%

Median Effective Colorado Tax Rate

0.55%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Drake, Larimer County, Colorado

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
80515	0.51%	0.52%	0.60%	0.72%	0.74%

Source: Ownwell

Property Tax Assessment Values Across Drake, Larimer County, Colorado

When examining property taxes in Drake, Colorado, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Larimer County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Larimer County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Drake. For example, the median home price in Drake is $286,600, with tax bills ranging significantly across the county. Zip code 80515 has the highest median home price at $286,600.

Property Tax Assessment Values Across Drake, Larimer County, Colorado

Source: Ownwell

$180,350

$430,675

$681,000

Median Drake Market Value

$286,600

Median Larimer County Market Value

$394,000

Median Colorado Market Value

$405,540

Median United States Market Value

$235,294

Property Tax Assessment Values Across Drake, Larimer County, Colorado

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
80515	$147,990	$203,850	$286,600	$378,775	$466,480

Source: Ownwell

Property Tax Bills Across Drake, Larimer County, Colorado

In Drake, located in Larimer County, Colorado, property tax bills are determined by assessing the market value of a home and applying the local tax rate. With a median home price of $286,600, the property tax bills vary significantly. The 25th percentile of tax bills is approximately $1,150, while the 75th percentile reaches around $2,374, and the 90th percentile climbs to $3,061. These figures highlight the variation in tax burdens homeowners face, influenced by factors such as location, property size, and market fluctuations. Notably, the median property tax bill in Drake stands at $1,685, which is below the national median of $2,400, reflecting a more favorable tax environment for residents compared to other areas.

Homeowners in Drake can benefit from Ownwell's expertise in property tax appeals and exemptions. By leveraging local market insights and tax law knowledge, Ownwell helps homeowners identify potential savings and reduce their tax bills, ensuring they pay only their fair share. This service can alleviate financial strain and enhance property investment returns.

Property Tax Bills Across Drake, Larimer County, Colorado

Source: Ownwell

$1,050

$3,140

$5,230

Median Drake Tax Bill

$1,685

Median Larimer County Tax Bill

$2,461

Median Colorado Tax Bill

$2,283

Median United States Tax Bill

$2,400

Property Tax Bills Across Drake, Larimer County, Colorado

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
80515	$822	$1,150	$1,685	$2,374	$3,061

Source: Ownwell