Lake County, CO Property Tax
The Lake County property tax rate is 0.53%, lower than the state and national average.
Written by Bonnie Stinson
Reviewed by Melanie Reiff
Table of Contents
- Property tax 101
- What is the property tax rate in Lake County?
- How to pay property taxes in Lake County
- How to save money on homeowners and car insurance in Colorado
- FAQs
Load full table of contents
With an average tax rate of 0.53%, Lake County residents pay an average of $888 a year in property taxes.
Homeownership is an opportunity to put down roots and put a stamp on your very own property. But owning a property can also be a serious hassle when tax season comes around. If you’re confused about your tax responsibilities, you’re not alone!
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Property tax 101
Before we dive in, let’s review the basics of property taxes.
A property owner is someone who owns land, a building, or a home. As a property owner, you pay property taxes at a rate set by your local government. There are usually different brackets, and a tax assessor determines which bracket you fall into based on the value of your property.
The government collects revenue from all the property owners and applies it to programs that benefit the community. Think public works and community initiatives like homelessness prevention and libraries.
For example, in
Lake County CO
, your property taxes are allocated toward programs like the Road and Bridge Fund to improve infrastructure. There’s also a Blood Lead Monitoring fund to cover the cost of testing and remediation for local families. Long story short, you pay property taxes to fund community services—and the amount you pay is tied to the value of your property.
Pro Tip Your tax rate may change frequently, as local budgets fluctuate (i.e. taxes are levied) and property values change.
What is the property tax rate in Lake County?
Lake County’s average property tax rate is 0.53% of the assessed fair market value. This is slightly less than the Colorado state average of 0.60%. The average annual cost of property taxes in Lake County CO is $888.
You can learn more about 2022 tax rates and other property tax info on the
Lake County Treasurer
website. How Lake County property taxes are determined
Properties may be subject to multiple districts when it comes to property taxes. For instance, there may be county-level taxes as well as state-wide taxes.
But the amount you pay is based on the value of your property, which is calculated by a trained
assessor or appraiser
. You can appeal the assessment if you think the value is incorrect.Wait! Before you pay your taxes, make sure to check out the variety of
tax-saving exemptions
in Lake County that could save you money. What do Lake County property taxes pay for?
Lake County spends the revenues from property taxes on a variety of county-wide services. These may include:
- School districts
- Streets and highways
- Sewer system
- Wildlife control
- Parks and habitat restoration
- County fire authority
- County libraries
- Police
- Public health
- Public transit
- Development of affordable housing
- Public safety projects
- Mental health services
County officials typically determine how revenues will be spent. However, if you’re passionate about how these dollars are spent, you can try to influence the tax revenue budget by contacting the Treasurer’s office or your local legislature.
How to pay property taxes in Lake County
In Lake County, property taxes can be paid in one or two installments.
The
due dates
for 2022 are February 28 for the first installment and June 15 for the second installment. Alternatively, you can wait until May 2, 2022, if you plan to make a single full payment.To pay via mail or in person, use this address:
Lake County Assessor's Office
505 Harrison Avenue
P.O. Box 28
Leadville, CO 80461
United States
How to save money on homeowners and car insurance in Colorado
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FAQs
When are property taxes due in Lake County?
Lake County property taxes are due every year in February and June if you pay in two installments. Otherwise, the full payment is due in May.
How do I get my Colorado property tax statement?
The County Treasurer mails out property tax statements to the owner on record.
Contact their office
if you don’t receive your statement or if you wish to request a statement.
Are property taxes high in Lake County?
Property taxes in Lake County average about $888 per year. This is lower than the state average and much lower than the majority of the United States!
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