Hamilton, Colorado Property Taxes
The median property tax rate in Hamilton, CO is 0.43%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With a median home value of $75,084 in Hamilton, the typical annual property tax bill amounts to $660, well below the national median of $2,690. Property taxes in Hamilton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Hamilton’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 Hamilton or another part of Moffat County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hamilton, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.43%
Estimate Property Tax Bill
$323
$300
Ownwell’s Hamilton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hamilton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hamilton 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 Hamilton, Colorado
Property taxes in Hamilton, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hamilton is 0.43%, significantly lower than both the Colorado state median of 0.51% and the U.S. national median of 0.99%. Local government entities within Hamilton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hamilton 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 Hamilton's effective property tax rate to other counties in Colorado and the national median. For comparison, the 81638 zip code has both the highest and lowest median property tax rate of 0.43%. Understanding how these cities compare with Hamilton provides valuable insights into the varying tax landscape across Moffat County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hamilton Tax Rate
0.43%
Average Moffat County Tax Rate
0.59%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hamilton, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81638 | 0.24% | 0.43% | 0.43% | 0.45% | 0.45% |
Source: Ownwell
Property Tax Assessment Values Across Hamilton, Colorado
In Hamilton, 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 Moffat 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 Hamilton, 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. For instance, Hamilton's median home price is $75,084, with tax bills ranging from $382 at the 25th percentile to $1,531 at the 90th percentile. The zip code 81638 has both the highest and lowest median tax bill, recorded at $660. Being aware of these valuation processes in Hamilton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hamilton Assessed Value
$75,084
Average Moffat County Assessed Value
$139,471
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hamilton, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81638 | $4,387 | $7,316 | $75,084 | $209,934 | $319,428 |
Source: Ownwell
Property Tax Bills Across Hamilton, Colorado
In Hamilton, CO, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value and applies an assessment ratio. For instance, with a median home price of $75,084, the property tax bill can vary significantly. Homeowners in the 25th percentile can expect a tax bill of around $382, while those in the 75th percentile might pay approximately $1,306. The 90th percentile sees tax bills reaching up to $1,531. These figures are influenced by local tax rates and the assessed value of the property. Compared to the national median property tax rate of 0.99%, Hamilton’s property tax rate can have a substantial impact on homeowners. Factors such as property improvements, neighborhood developments, and changes in market conditions can also affect the assessed value and, consequently, the tax bill. Understanding these factors can help homeowners anticipate and manage their annual property tax obligations effectively.
Average Hamilton Tax Bill
$660
Average Moffat County Tax Bill
$783
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Hamilton, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81638 | $162 | $382 | $660 | $1,306 | $1,531 |
Source: Ownwell