Lake George, Teller County, Colorado Property Taxes
Last Updated March 1, 2025
Lake George, Teller County, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.34%
Estimate Property Tax Bill
$1,477
$1,371
Property Tax Rates Across Lake George, Teller County, Colorado
Local government entities determine tax rates, leading to significant variations within a state. This is because each county annually estimates its budget needs for providing services and divides this by the total value of all taxable properties in its jurisdiction, resulting in the property tax rate. Although the process involves votes and regulations, this is the essence of how rates are set each year.
In Lake George, located in Teller County, Colorado, the effective property tax rate offers a stark contrast to other cities in the state and the nation. With a median property tax rate of 0.39%, it is significantly lower than the national median of 1.02%. This lower rate can lead to substantial savings for property owners in the area. When compared to the U.S. median property tax bill of $2,400, residents of Lake George benefit from a more favorable tax environment. Understanding these differences can be crucial for property owners when evaluating their tax liabilities and potential savings.
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
0.34%
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 Teller County Tax Rate
0.36%
Median Effective Colorado Tax Rate
0.50%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Lake George, Teller County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80827 | 0.24% | 0.30% | 0.34% | 0.35% | 0.36% |
Source: Ownwell
Property Tax Assessment Values Across Lake George, Teller County, Colorado
When examining property taxes in Lake George, Colorado, 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 Teller 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.
In Teller 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 $283,009, with tax bills ranging significantly across the county. 80827 has the highest median home price at $283,009.
Property Tax Assessment Values Across Lake George, Teller County, Colorado
Source: Ownwell
$213,637
$367,689
$521,740
Median Lake George Market Value
$434,458
Median Teller County Market Value
$461,323
Median Colorado Market Value
$519,879
Median United States Market Value
$235,294
Property Tax Assessment Values Across Lake George, Teller County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80827 | $90,753 | $271,179 | $434,458 | $532,952 | $653,277 |
Source: Ownwell
Property Tax Bills Across Lake George, Teller County, Colorado
In Lake George, Teller County, CO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in this area experience a median property tax bill of $966, significantly lower than the national median of $2400. The tax rate in this region is influenced by local government budgets, school funding needs, and other public services. For homeowners, this means that while the tax bills might be lower compared to national figures, understanding how these assessments are made is crucial for financial planning.
Ownwell offers expert assistance to homeowners by providing property tax appeal and exemption services. By analyzing comparable properties and identifying potential errors in assessments, Ownwell helps ensure that homeowners are not overpaying on their property taxes. This service can be particularly beneficial in areas like Lake George, where even a small adjustment in assessed value can lead to significant savings. With Ownwell's support, homeowners can navigate the complexities of property taxes with confidence and ease.
Median Lake George Tax Bill
$1,457
Median Teller County Tax Bill
$1,612
Median Colorado Tax Bill
$2,732
Median United States Tax Bill
$2,400
Property Tax Bills Across Lake George, Teller County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80827 | $461 | $867 | $1,457 | $1,884 | $2,312 |
Source: Ownwell