Burlington, Colorado Property Taxes
The median property tax rate in Burlington, CO is 0.71%, 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 Burlington at $185,760, the typical annual property tax bill amounts to $1,524, falling below the national median of $2,690. Property taxes in Burlington are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions, such as the primary residence and agricultural exemptions. Understanding Burlington'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 Burlington 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
Burlington, 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 Burlington Property Tax Bill Calculator helps homeowners, real estate investors, and potential owners estimate their annual property taxes in Burlington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Burlington 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 Burlington, Colorado
Property taxes in Burlington, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burlington is 0.71%, which is below the U.S. national median of 0.99%. Local government entities within Burlington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burlington 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 Burlington's effective property tax rate to other counties in Colorado and the national median. For comparison, the zip code 80807 has the highest median property tax rate of 0.71%, while the same zip code also has the lowest median tax rate of 0.71%. Understanding how these cities compare with Burlington provides valuable insights into the varying tax landscape across Kit Carson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burlington Tax Rate
0.71%
Average Yuma County Tax Rate
0.67%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burlington, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80807 | 0.25% | 0.56% | 0.71% | 1.14% | 2.54% |
Source: Ownwell
Property Tax Assessment Values Across Burlington, Colorado
In Burlington, 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 Yuma County Appraisal District 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 Burlington, 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 Burlington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 80807, with a median tax bill of $1,524.
Average Burlington Assessed Value
$185,760
Average Yuma County Assessed Value
$112,640
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burlington, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80807 | $21,554 | $92,045 | $185,760 | $246,878 | $273,423 |
Source: Ownwell
Property Tax Bills Across Burlington, Colorado
Property tax bills in Burlington, Colorado, are determined based on the assessed value of a property, which is a percentage of its market value. In Burlington, the median home price is $185,760. The assessed value is then multiplied by the local tax rate to calculate the tax bill. This rate can vary depending on local government budgets and needs. Homeowners in Burlington can expect their property tax bills to fall within a range, with the 25th percentile tax bill at $771 and the 75th percentile at $2,534. At the higher end, the 90th percentile tax bill reaches $3,664. These figures highlight the variability in tax bills, influenced by factors such as property size, location, and improvements. Comparatively, the median property tax rate in Burlington aligns closely with the national median of 0.99%, making it relatively average on a national scale. This means homeowners in Burlington face property tax bills that are fairly typical when compared to the broader U.S. context, affecting their annual budgeting and financial planning.
Average Burlington Tax Bill
$1,524
Average Yuma County Tax Bill
$763
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Burlington, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80807 | $405 | $771 | $1,524 | $2,534 | $3,664 |
Source: Ownwell