Lakewood, Denver County, Colorado Property Taxes

Local government entities are responsible for setting property tax rates, which can differ significantly within a state. This variation arises because each county annually calculates its required budget for public services and divides it by the total assessed value of all taxable property in its area, resulting in the property tax rate. Though votes and laws play a role in determining tax rates and budgets, this is essentially the yearly procedure.

For example, Lakewood in Jefferson County, Colorado, has its own effective property tax rate. When comparing Lakewood's rate to other cities in Colorado, it is essential to consider both the state and national median property tax rates. Colorado's median property tax rate is notably lower than the national median, which can be advantageous for property owners in the state. With the national median property tax rate at 1.02% and the median property tax bill at $2,400, Lakewood's rate offers a competitive edge. Understanding these differences can help property owners make informed decisions about their investments and financial planning.

In Lakewood, CO, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value determined by the county assessor. The local tax rate is then applied to this assessed value to determine the final tax bill. With a median home price of $285,000, homeowners in Lakewood can expect a property tax bill that typically falls between the 25th percentile of $1,404 and the 75th percentile of $1,671. Compared to the national median property tax bill of $2,400, Lakewood's tax bills are relatively moderate. However, factors such as changes in market value, local tax rates, and available exemptions can significantly impact individual bills.

Ownwell specializes in helping homeowners reduce their property tax burdens by identifying potential savings through appeals and exemptions. By leveraging local expertise and data-driven insights, Ownwell can assist homeowners in Lakewood in ensuring their property is assessed fairly, potentially saving them hundreds of dollars annually on their property tax bills.