81235 Property Tax Rate

Property owners in ZIP code 81235 (Lake City, Colorado) pay a median of $1,341/year in property taxes on homes valued at $456,500. This translates to an effective tax rate of 0.29%, which is 29% below the Colorado state average of 0.42%.

The monthly property tax burden for a median-valued home in 81235 is approximately $112, which factors into escrow payments on mortgages. This ZIP code is located within Hinsdale County. This is $541 less than the Colorado average of $1,882/year.

Compared to similar ZIP codes in Colorado, 81235 has higher property taxes. ZIP codes with similar effective rates include 81328 (0.29%) and 81431 (0.29%).

In Lake City, property taxes represent approximately 2.0% of the median household income of $67,750, providing context for the relative tax burden on homeowners in this area.

Your Hinsdale County property will be reassessed to current market value at purchase with no statewide annual increase cap following Colorado's 2020 Gallagher repeal. The Senior Homestead Exemption applies to homeowners 65+ with 10+ years of occupancy and significantly reduces taxable value—file with the Hinsdale County Assessor. Contact the Hinsdale County Assessor immediately after closing to submit your exemption application and confirm your base assessment.