Snowmass Village, Colorado Property Taxes
The median property tax rate in Snowmass Village, CO is 0.35%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Snowmass Village at $878,000, the typical annual property tax bill reaches $3,496, which exceeds the national median of $2,690. Property taxes in Snowmass Village are calculated based on the tax assessed value, often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Snowmass Village'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 Snowmass Village 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
Snowmass Village, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.35%
Estimate Property Tax Bill
$3,073
Ownwell’s Snowmass Village Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Snowmass Village with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Snowmass Village 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 Snowmass Village, Colorado
Property taxes in Snowmass Village, Colorado, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Snowmass Village is 0.35%, significantly lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Snowmass Village set these rates annually, and they can vary significantly across different neighborhoods. Each year, Snowmass Village 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 Snowmass Village's effective property tax rate to other counties in Colorado and the national median. For comparison, the highest median property tax rate in Colorado is significantly higher than Snowmass Village's rate, while the lowest median tax rate in the state is also higher than Snowmass Village's rate. Understanding how these cities compare with Snowmass Village provides valuable insights into the varying tax landscape across Pitkin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Snowmass Village Tax Rate
0.35%
Average Pitkin County Tax Rate
0.26%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Snowmass Village, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81615 | 0.35% | 0.35% | 0.35% | 0.35% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Snowmass Village, Colorado
In Snowmass Village, 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 Pitkin County Assessor's Office 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 Snowmass Village, 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, the median home price in Snowmass Village is $878,000, with annual tax bills ranging from $1,820 at the 25th percentile to $16,704 at the 90th percentile. The zip code with the highest and lowest median tax bill is 81615, both standing at $3,496. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Snowmass Village, Colorado
Source: Ownwell
$254,900
$3,919,500
$7,584,100
Average Snowmass Village Assessed Value
$878,000
Average Pitkin County Assessed Value
$1,237,200
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Snowmass Village, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81615 | $277,360 | $481,750 | $878,000 | $2,194,900 | $4,276,560 |
Source: Ownwell
Property Tax Bills Across Snowmass Village, Colorado
In Snowmass Village, located in Pitkin County, CO, property tax bills are calculated based on the property's assessed value, which is a percentage of its market value. The median home price in Snowmass Village is $878,000. To determine the tax bill, the assessed value is multiplied by the local tax rate. For instance, homeowners in this area can expect tax bills to vary significantly, with the 25th percentile tax bill at $1,820 and the 75th percentile reaching $8,421. At the higher end, the 90th percentile tax bill can soar to $16,704. The highest and lowest median tax bill in the region both stand at $3,496, as seen in the 81615 zip code. These tax bills impact homeowners by influencing their annual housing costs, which can be a significant financial consideration. Compared to the national median property tax rate of 0.99%, Snowmass Village's tax rates reflect the region's high property values and the resulting tax burdens on homeowners.
Average Snowmass Village Tax Bill
$3,496
Average Pitkin County Tax Bill
$4,527
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Snowmass Village, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81615 | $1,017 | $1,820 | $3,496 | $8,421 | $16,704 |
Source: Ownwell