Blue River, Summit County, Colorado Property Taxes
Median Blue River, CO effective property tax rate: 0.45%, significantly lower than the national median of 1.02%, but lower than the Colorado state median of 0.55%.
Median Blue River, CO home value: $964,250
Median annual Blue River, CO tax bill: $4,346, $1,946 higher than the national median property tax bill of $2,400.
How are property taxes in Summit calculated?
Property taxes in Blue River, 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 Blue River’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Blue River, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Blue River, Summit County, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.45%
Estimate Property Tax Bill
$4,339
$4,027
Property Tax Rates Across Blue River, Summit County, Colorado
Local government entities are responsible for setting property tax rates, resulting in significant variations within a state. This occurs because each county determines its required budget for the year to provide essential services. They then divide this budget by the total assessed value of all taxable property within their jurisdiction, which establishes the property tax rate. Although votes and legal regulations play a role in determining tax rates and budgets, this is the fundamental annual process.
In Blue River, located in Summit County, the effective property tax rate can be compared to other cities in Colorado and the median property tax rates across the state and nation. Blue River's property tax rate is notably lower than the national median property tax rate of 1.02%, and its property tax bill is significantly less than the national median of $2400. This makes it an attractive location for property owners seeking lower tax liabilities. By understanding these differences, property owners in Blue River can make informed decisions about their investments and potential savings on property taxes.
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 Blue River Tax Rate
0.45%
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 Summit County Tax Rate
0.40%
Median Effective Colorado Tax Rate
0.55%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Blue River, Summit County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80424 | 0.45% | 0.45% | 0.45% | 0.50% | 0.52% |
Source: Ownwell
Property Tax Assessment Values Across Blue River, Summit County, Colorado
When examining property taxes in Blue River, 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 Summit County Assessor 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.
Assessment notices: In Summit 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 Blue River. For example, the median home price in Blue River is $964,250, with tax bills ranging significantly across the county. 80424 has the highest median home price at $964,250.
Property Tax Assessment Values Across Blue River, Summit County, Colorado
Source: Ownwell
$459,600
$711,925
$964,250
Median Blue River Market Value
$964,250
Median Summit County Market Value
$629,250
Median Colorado Market Value
$405,540
Median United States Market Value
$235,294
Property Tax Assessment Values Across Blue River, Summit County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80424 | $631,510 | $681,675 | $964,250 | $1,254,725 | $1,649,110 |
Source: Ownwell
Property Tax Bills Across Blue River, Summit County, Colorado
Median Blue River Tax Bill
$4,346
Median Summit County Tax Bill
$2,627
Median Colorado Tax Bill
$2,283
Median United States Tax Bill
$2,400
Property Tax Bills Across Blue River, Summit County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80424 | $2,846 | $3,072 | $4,346 | $5,812 | $8,336 |
Source: Ownwell