Estes Park, Colorado Property Taxes
The median property tax rate in Estes Park, CO is 0.53%, notably lower than both the national median of 0.99% and the Colorado state median of 0.55%. With a median home value of $487,700 in Estes Park, the typical annual property tax bill amounts to $2,575, slightly below the national median of $2,690. Property taxes in Estes Park are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Estes 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 Estes 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
Estes Park, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.53%
Estimate Property Tax Bill
$2,585
Ownwell’s Estes Park Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Estes Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Estes 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 the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Estes Park, Colorado
Property taxes in Estes Park, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Estes Park is 0.53%, higher than the Colorado state median of 0.51% but lower than the U.S. national median of 0.99%. Local government entities within Estes Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Estes 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 Estes Park's effective property tax rate to other areas in Colorado and the national median. For comparison, the 80517 zip code has the highest median property tax rate of 0.53%, while the 80511 zip code has the lowest median tax rate of 0.52%. Understanding how these areas compare with Estes Park provides valuable insights into the varying tax landscape across Larimer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Estes Park Tax Rate
0.53%
Average Larimer County Tax Rate
0.66%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Estes Park, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80511 | 0.51% | 0.51% | 0.52% | 0.53% | 0.53% |
| 80517 | 0.47% | 0.52% | 0.53% | 0.54% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Estes Park, Colorado
In Estes 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 Larimer 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 Estes 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. Being aware of these valuation processes in Estes Park helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is $2,575 in the 80517 zip code, while the lowest is $2,426 in the 80511 zip code.
Average Estes Park Assessed Value
$487,700
Average Larimer County Assessed Value
$394,000
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Estes Park, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80511 | $297,520 | $367,750 | $512,150 | $580,450 | $608,050 |
| 80517 | $255,000 | $364,500 | $487,700 | $630,825 | $841,280 |
Source: Ownwell
Property Tax Bills Across Estes Park, Colorado
In Estes Park, property tax bills are calculated using the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the property's market value. For instance, with the median home price at $487,700, the assessed value forms the basis for the tax calculation. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the specific tax rate set by local authorities and any applicable exemptions or deductions. Homeowners in Estes Park can expect tax bills that vary widely. For example, the 25th percentile tax bill is $1,911, while the 75th percentile reaches $3,407, and the 90th percentile can be as high as $4,494. Comparatively, the median property tax rate in Estes Park is competitive, given the national median property tax rate of 0.99%. This tax burden can significantly impact homeowners, affecting their overall housing costs and financial planning.
Average Estes Park Tax Bill
$2,575
Average Larimer County Tax Bill
$2,461
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Estes Park, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80511 | $1,545 | $1,894 | $2,426 | $2,975 | $3,226 |
| 80517 | $1,347 | $1,911 | $2,575 | $3,408 | $4,496 |
Source: Ownwell