Lyons, Colorado Property Taxes
The median property tax rate in Lyons, CO is 0.71%, which is notably higher than both the national median of 0.99% and the Colorado state median of 0.55%. Given the median home value in Lyons, the typical annual property tax bill amounts to $3,274, surpassing the national median of $2,690. Property taxes in Lyons are determined based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lyons' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Lyons 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
Lyons, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$3,524
$3,271
Ownwell’s Lyons Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lyons with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lyons 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 Lyons, Colorado
Property taxes in Lyons, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lyons is 0.71%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Lyons set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lyons 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 Lyons's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80540 zip code has the highest median property tax rate of 0.71%, while the same zip code also has the lowest median tax rate of 0.71%. Understanding how these cities compare with Lyons 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 Lyons Tax Rate
0.71%
Average Larimer County Tax Rate
0.66%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lyons, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80540 | 0.50% | 0.57% | 0.71% | 0.74% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Lyons, Colorado
In Lyons, 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 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 Lyons, 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 Lyons is $496,400, with the 25th percentile tax bill at $2,337 and the 75th percentile at $4,397. The highest and lowest median tax bills are both $3,274, found in the 80540 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 Lyons helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lyons Assessed Value
$496,400
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 Lyons, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80540 | $303,940 | $392,500 | $496,400 | $631,100 | $770,000 |
Source: Ownwell
Property Tax Bills Across Lyons, Colorado
In Lyons, 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 market value of the property. Homeowners in Lyons can expect their tax bills to vary significantly depending on the value of their homes. For instance, the tax bill at the 25th percentile is $2,337, while at the 75th percentile, it climbs to $4,397. Several factors influence these tax bills, including the property's location, size, and any improvements made. In Larimer County, where Lyons is situated, the highest and lowest median tax bills are both reported at $3,274, indicating a relatively uniform distribution within this specific area. Compared to the national median property tax rate of 0.99%, Lyons homeowners may experience higher or lower rates based on these assessments. This variability can significantly impact homeowners, influencing their overall housing affordability and financial planning.
Average Lyons Tax Bill
$3,274
Average Larimer County Tax Bill
$2,461
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Lyons, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80540 | $1,634 | $2,337 | $3,274 | $4,397 | $5,374 |
Source: Ownwell