Lake George, Park County, Colorado Property Taxes
Median LAKE GEORGE, CO effective property tax rate: 0.37%, significantly lower than the national median of 1.02%, but lower than the Colorado state median of 0.55%.
Median LAKE GEORGE, CO home value: $264,240
Median annual LAKE GEORGE, CO tax bill: $977, $1,423 lower than the national median property tax bill of $2,400.
How are property taxes in Park calculated?
Property taxes in LAKE GEORGE, CO are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding LAKE GEORGE’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in LAKE GEORGE, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Lake George, Park County, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.26%
Estimate Property Tax Bill
$1,033
$959
Property Tax Rates Across Lake George, Park County, Colorado
Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Lake George’s effective property tax rate to other cities in Colorado and the median property tax rates in Colorado and the U.S. Lake George, located in Park County, boasts a notably low effective property tax rate of 0.37%, which is significantly below the national median of 1.02%. This means that homeowners in Lake George enjoy one of the most favorable tax environments in the country. In contrast, the national median property tax bill is $2,400, making Lake George an attractive option for those looking for lower property tax obligations. Comparing this to other regions within Colorado, Lake George stands out as a cost-effective place to own property, offering residents substantial savings on their annual tax bills.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Lake George Tax Rate
0.26%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Park County Tax Rate
0.35%
Median Effective Colorado Tax Rate
0.50%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Lake George, Park County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80827 | 0.21% | 0.24% | 0.26% | 0.28% | 0.32% |
Source: Ownwell
Property Tax Assessment Values Across Lake George, Park County, Colorado
When examining property taxes in LAKE GEORGE, CO, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Park County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Park County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in LAKE GEORGE. For example, the median home price in LAKE GEORGE is $264,240, with tax bills ranging significantly across the county. 80827 has the highest median home price at $264,240.
Property Tax Assessment Values Across Lake George, Park County, Colorado
Source: Ownwell
$367,702
$593,499
$819,296
Median Lake George Market Value
$397,322
Median Park County Market Value
$536,611
Median Colorado Market Value
$519,879
Median United States Market Value
$235,294
Property Tax Assessment Values Across Lake George, Park County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80827 | $130,777 | $285,296 | $397,322 | $545,259 | $720,146 |
Source: Ownwell
Property Tax Bills Across Lake George, Park County, Colorado
Median Lake George Tax Bill
$1,042
Median Park County Tax Bill
$1,860
Median Colorado Tax Bill
$2,732
Median United States Tax Bill
$2,400
Property Tax Bills Across Lake George, Park County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80827 | $375 | $710 | $1,042 | $1,548 | $2,074 |
Source: Ownwell