Breckenridge, Colorado Property Taxes
The median property tax rate in Breckenridge, CO is 0.40%, considerably lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Breckenridge at $746,900, the typical annual property tax bill reaches $2,967, slightly above the national median of $2,690. Property taxes in Breckenridge 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 Breckenridge'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 Breckenridge 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
Breckenridge, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$2,988
Ownwell’s Breckenridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Breckenridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Breckenridge 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 Breckenridge, Colorado
Property taxes in Breckenridge, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Breckenridge is 0.40%, significantly lower than the U.S. national median of 0.99%. Local government entities within Breckenridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Breckenridge 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 Breckenridge's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80424 zip code has both the highest and lowest median property tax rate of 0.40%. Understanding how these cities compare with Breckenridge provides valuable insights into the varying tax landscape across Summit County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Breckenridge Tax Rate
0.40%
Average Summit County Tax Rate
0.40%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Breckenridge, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80424 | 0.37% | 0.37% | 0.40% | 0.40% | 0.45% |
Source: Ownwell
Property Tax Assessment Values Across Breckenridge, Colorado
In Breckenridge, 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 Summit 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 Breckenridge, 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 Breckenridge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 80424 has both the highest and lowest median tax bill at $2,967. The 25th percentile tax bill is $1,951, while the 75th percentile tax bill is $4,585.
Property Tax Assessment Values Across Breckenridge, Colorado
Source: Ownwell
$419,600
$803,500
$1,187,400
Average Breckenridge Assessed Value
$746,900
Average Summit County Assessed Value
$629,250
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Breckenridge, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80424 | $347,500 | $484,800 | $746,900 | $1,145,300 | $1,904,000 |
Source: Ownwell
Property Tax Bills Across Breckenridge, Colorado
In Breckenridge, located in Summit County, CO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The county assessor determines the market value, and the assessed value is then calculated using this figure. For homeowners in Breckenridge, the median home price stands at $746,900. Property tax rates in this area are influenced by various factors, including local government budgets, school funding needs, and public service requirements. Homeowners can expect tax bills to vary significantly. For instance, the 25th percentile tax bill is around $1,951, while the 75th percentile tax bill reaches $4,585. At the 90th percentile, the tax bill can be as high as $7,837. The highest and lowest median tax bills in the area are both $2,967, indicating a consistent application of rates across different properties. These taxes play a crucial role in funding essential community services, affecting homeowners by contributing to the overall quality of life in Breckenridge.
Average Breckenridge Tax Bill
$2,967
Average Summit County Tax Bill
$2,627
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Breckenridge, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80424 | $1,399 | $1,951 | $2,967 | $4,585 | $7,837 |
Source: Ownwell