Erie, Colorado Property Taxes
The median property tax rate in Erie, CO is 0.77%, which is lower than the national median of 0.99% but higher than the Colorado state median of 0.55%. With the median home value in Erie at $684,111, the typical annual property tax bill reaches $5,017, significantly exceeding the national median of $2,690. Property taxes in Erie are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Erie'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 Erie 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
Erie, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$5,268
$4,888
Ownwell’s Erie Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Erie with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Erie to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in seeing trends on a more localized level, additional neighborhood-specific information is available. Your property’s assessed value is determined by the county and is used for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Erie, Colorado
Property taxes in Erie, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Erie is 0.77%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Erie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Erie 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 Erie's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80516 zip code in Erie has a median property tax rate of 0.77%, which is consistent across the area. Understanding how these cities compare with Erie provides valuable insights into the varying tax landscape across Weld County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Erie Tax Rate
0.77%
Average Weld County Tax Rate
0.49%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Erie, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80516 | 0.46% | 0.57% | 0.77% | 0.83% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Erie, Colorado
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Erie, Colorado. The market value represents 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 Weld 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 Erie 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. Erie’s median home price is $684,111, with tax bills ranging from $3,166 at the 25th percentile to $7,137 at the 90th percentile. The highest and lowest median tax bills are both $5,064 in the 80516 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Erie Assessed Value
$684,111
Average Weld County Assessed Value
$452,949
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Erie, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80516 | $389,067 | $576,686 | $687,301 | $793,573 | $925,637 |
Source: Ownwell
Property Tax Bills Across Erie, Colorado
In Erie, CO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Erie is $684,111, and property taxes are then applied to this assessed value. Several factors influence the final tax bill, including the local tax rate set by Weld County, which encompasses Erie. Homeowners in Erie can expect tax bills varying significantly. At the 25th percentile, the tax bill is around $3,166, while at the 75th percentile, it climbs to $6,116. Those at the 90th percentile face even higher bills, reaching up to $7,137. These property taxes directly impact homeowners' annual expenses, with the highest median tax bill recorded at $5,064 in the 80516 zip code. Compared to the national median property tax rate of 0.99%, Erie's tax rates can result in substantial costs for homeowners, affecting their financial planning and overall affordability of homeownership in the region.
Average Erie Tax Bill
$5,017
Average Weld County Tax Bill
$2,133
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Erie, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80516 | $2,177 | $3,359 | $5,064 | $6,141 | $7,161 |
Source: Ownwell