Red Feather Lakes, Colorado Property Taxes
The median property tax rate in Red Feather Lakes, CO is 0.66%, lower than the national median of 0.99% but higher than the Colorado state median of 0.55%. With the median home value in Red Feather Lakes at $246,300, the typical annual property tax bill is $1,627, which falls below the national median of $2,690. Property taxes in Red Feather Lakes are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Red Feather Lakes' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Red Feather Lakes 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
Red Feather Lakes, Colorado Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$1,100
Ownwell’s Red Feather Lakes Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Red Feather Lakes with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Red Feather Lakes 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 Red Feather Lakes, Colorado
Property taxes in Red Feather Lakes, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Red Feather Lakes is 0.66%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Red Feather Lakes set these rates annually, and they can vary significantly across different neighborhoods. Each year, Red Feather Lakes 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 Red Feather Lakes' effective property tax rate to other counties in Colorado and the national median. For comparison, the 80545 zip code has both the highest and lowest median property tax rate of 0.66%. Understanding how these cities compare with Red Feather Lakes 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 Red Feather Lakes Tax Rate
0.66%
Average Larimer County Tax Rate
0.66%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Red Feather Lakes, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80545 | 0.58% | 0.65% | 0.66% | 0.68% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Red Feather Lakes, Colorado
In Red Feather Lakes, 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 Red Feather Lakes, 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 Red Feather Lakes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $246,300, with tax bills ranging from $1,118 at the 25th percentile to $2,814 at the 90th percentile. The highest and lowest median tax bills are both $1,627, located in the 80545 zip code.
Property Tax Assessment Values Across Red Feather Lakes, Colorado
Source: Ownwell
$180,350
$430,675
$681,000
Average Red Feather Lakes Assessed Value
$246,300
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 Red Feather Lakes, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80545 | $116,300 | $171,700 | $246,300 | $335,100 | $425,500 |
Source: Ownwell
Property Tax Bills Across Red Feather Lakes, Colorado
Property tax bills in Red Feather Lakes, located in Larimer County, CO, are determined by a combination of the assessed value of a property and the local tax rate. The median home price in this area is $246,300. The assessed value is a percentage of the market value, which is then multiplied by the local tax rate to calculate the tax bill. For Red Feather Lakes, the tax bills vary significantly based on property values and specific local rates. Homeowners in Red Feather Lakes can expect their tax bills to range widely. For instance, the 25th percentile tax bill stands at $1,118, while the 75th percentile tax bill reaches $2,197. At the higher end, the 90th percentile tax bill is $2,814. These figures reflect how property taxes can substantially impact homeowners, depending on their property’s assessed value. Compared to the national median property tax rate of 0.99%, residents in Red Feather Lakes experience a diverse range of tax obligations, influenced by local assessments and market conditions.
Average Red Feather Lakes Tax Bill
$1,627
Average Larimer County Tax Bill
$2,461
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Red Feather Lakes, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80545 | $763 | $1,118 | $1,627 | $2,197 | $2,814 |
Source: Ownwell