Silverthorne, Colorado Property Taxes
The median property tax rate in Silverthorne, Colorado is 0.40%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Silverthorne at $597,300, the typical annual property tax bill reaches $2,578, slightly below the national median of $2,690. Property taxes in Silverthorne are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Silverthorne'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 Silverthorne or another part of Summit County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Silverthorne, Colorado Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$1,100
Ownwell’s Silverthorne Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Silverthorne with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Silverthorne 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 Silverthorne, Colorado
Property taxes in Silverthorne, Colorado, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Silverthorne is 0.40%, significantly lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Silverthorne set these rates annually, and they can vary significantly across different neighborhoods. Each year, Silverthorne 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 Silverthorne's effective property tax rate to other counties in Colorado and the national median. Understanding how these cities compare with Silverthorne 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 Silverthorne 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 Silverthorne, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80497 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 80498 | 0.40% | 0.40% | 0.40% | 0.50% | 0.50% |
Source: Ownwell
Property Tax Assessment Values Across Silverthorne, Colorado
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Silverthorne, 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 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. Assessment notices in Silverthorne 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 highest median tax bill in Silverthorne is $2,579 in the 80498 zip code, while the lowest is $1,666 in the 80497 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Silverthorne, Colorado
Source: Ownwell
$419,600
$803,500
$1,187,400
Average Silverthorne Assessed Value
$597,300
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 Silverthorne, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80497 | $419,040 | $419,250 | $419,600 | $419,950 | $420,160 |
| 80498 | $290,460 | $397,200 | $597,350 | $918,475 | $1,330,880 |
Source: Ownwell
Property Tax Bills Across Silverthorne, Colorado
In Silverthorne, located in Summit County, CO, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is a percentage of the market value, which is determined by the county assessor. Homeowners in Silverthorne experience a range of property tax bills, with the 25th percentile at $1,896 and the 75th percentile at $3,795. The highest median tax bill in the area is $2,579 in the 80498 zip code, while the lowest median is $1,666 in the 80497 zip code. Several factors influence the final tax bill, including the property's assessed value, the local tax rate, and any applicable exemptions or deductions. The median home price in Silverthorne is $597,300, which significantly impacts the overall tax burden. Compared to the national median property tax rate of 0.99%, Silverthorne's tax rates reflect the region's property values and local tax policies. Homeowners must budget for these taxes, as they can affect affordability and long-term financial planning.
Average Silverthorne Tax Bill
$2,578
Average Summit County Tax Bill
$2,627
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Silverthorne, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80497 | $1,664 | $1,665 | $1,666 | $1,668 | $1,669 |
| 80498 | $1,320 | $1,897 | $2,579 | $3,795 | $6,393 |
Source: Ownwell