Akron, Colorado Property Taxes
The median property tax rate in Akron, CO is 0.75%, considerably higher than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Akron, the typical annual property tax bill reaches $1,818, which is below the national median of $2,690. Property taxes in Akron are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Akron'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 Akron 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
Akron, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$1,829
Ownwell’s Akron Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Akron with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Akron 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 Akron, Colorado
Property taxes in Akron, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Akron is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Akron set these rates annually, and they can vary significantly across different neighborhoods. Each year, Akron 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 Akron's effective property tax rate to other areas in Logan County and the national median. For comparison, the 80720 zip code has both the highest and lowest median property tax rate of 0.75%. Understanding how these figures compare with Akron provides valuable insights into the varying tax landscape across Logan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Akron Tax Rate
0.75%
Average Logan County Tax Rate
0.57%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Akron, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80720 | 0.75% | 0.75% | 0.75% | 0.75% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Akron, Colorado
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Akron, 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 Logan 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 Akron, 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. Akron has a median home price of $243,810, with the highest and lowest median tax bills both being $1,818 in the zip code 80720. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Akron Assessed Value
$243,810
Average Logan County Assessed Value
$146,235
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Akron, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80720 | $243,810 | $243,810 | $243,810 | $243,810 | $243,810 |
Source: Ownwell
Property Tax Bills Across Akron, Colorado
In Akron, CO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, the median home price in Akron is $243,810. The local tax rate is applied to this assessed value to determine the annual property tax bill. Factors such as property improvements, neighborhood changes, and market trends can influence the assessed value, thereby affecting the tax bill. In Logan County, where Akron is located, the median property tax bill is $1,818, which is consistent across various percentiles, indicating a uniform tax rate application. This amount is relatively lower compared to the national median property tax rate of 0.99%. Homeowners in Akron benefit from this consistency, making it easier to predict and manage their annual property tax expenses. Understanding how these taxes are calculated helps homeowners budget effectively and anticipate any changes that might arise from fluctuations in property values or tax rates.
Average Akron Tax Bill
$1,818
Average Logan County Tax Bill
$847
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Akron, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80720 | $1,818 | $1,818 | $1,818 | $1,818 | $1,818 |
Source: Ownwell