Dillon, Colorado Property Taxes
The median property tax rate in Dillon, 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 Dillon, the typical annual property tax bill reaches $2,210, which is below the national median of $2,690. Property taxes in Dillon 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 Dillon'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 Dillon 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
Dillon, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$2,157
$2,002
Ownwell’s Dillon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dillon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dillon 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 Dillon, Colorado
Property taxes in Dillon, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dillon is 0.40%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Dillon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dillon 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 Dillon's effective property tax rate to other counties in Colorado and the national median. For comparison, the highest median property tax rate in the state is significantly higher, while the lowest median tax rate is much lower. Understanding how these cities compare with Dillon 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 Dillon 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 Dillon, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80435 | 0.40% | 0.40% | 0.40% | 0.41% | 0.42% |
Source: Ownwell
Property Tax Assessment Values Across Dillon, Colorado
In Dillon, 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 Dillon, 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. For instance, the median home price in Dillon is $539,350. The 25th percentile tax bill is $1,464, while the 75th percentile tax bill is $3,027. Notably, the highest and lowest median tax bills are both $2,210 in the 80435 zip code. By understanding 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 Dillon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dillon Assessed Value
$539,350
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 Dillon, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80435 | $231,200 | $363,700 | $539,350 | $721,125 | $1,069,750 |
Source: Ownwell
Property Tax Bills Across Dillon, Colorado
In Dillon, CO, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The assessed value is a percentage of the market value, and this figure is then multiplied by the local tax rate to calculate the annual tax bill. For instance, with a median home price of $539,350, homeowners can expect a tax bill ranging from $1,464 at the 25th percentile to $3,027 at the 75th percentile, and up to $4,374 at the 90th percentile. The property tax rate in Dillon is influenced by various factors, including local government budgets, public services, and school district funding. Homeowners in Dillon face a property tax rate that is competitive compared to the national median of 0.99%. This rate ensures that essential services and infrastructure projects are adequately funded, impacting the overall quality of life in the community. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Dillon Tax Bill
$2,210
Average Summit County Tax Bill
$2,627
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Dillon, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80435 | $920 | $1,464 | $2,210 | $3,027 | $4,374 |
Source: Ownwell