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Updated 2025 Tax Year

Lake County
Property Tax Guide

Everything you need to know about property taxes in Lake County, CO. Rates, due dates, exemptions, and how it affects your monthly payment.

9 Official Sources
8 min read
Quick Facts
Tax Rate
6.15% to 7.05% effective rate, varies by special taxing districts and location within county
Exemptions
4+ Available
Section 1

How Property Tax Works

Lake County, Colorado operates on a property tax system that funds essential local services including schools, fire protection, library services, and county government operations. Property taxes in Lake County are calculated based on assessed values and vary significantly by location within the county due to different special taxing districts. The effective tax rate ranges from approximately 6.15% to 7.05% depending on your specific location and the special districts that serve your property.

Property tax bills in Lake County reflect taxes for the previous assessment year, with 2025 tax bills covering the 2024 tax year. The county's mountainous terrain and diverse communities mean that properties may fall within different combinations of school districts, fire districts, and other special service areas, each with their own mill levies that contribute to your total tax rate.

Section 2

What Makes Up Your Tax Bill

The following table shows the projected tax rate components for Lake County properties for the 2025 tax year:

ComponentRate RangeDescription
Base County Levy6.15% - 6.25%Local government services, roads, administration
School Districts6.95% - 7.05%Public education funding
Special DistrictsVariesFire protection, library, water/sewer (location-dependent)
Total Effective Rate6.15% - 7.05%Varies by special taxing districts in your area

Note: These rates apply to the 2025 levy year and are projected figures. Final rates will be confirmed closer to the tax year. Your actual rate depends on which special taxing districts serve your property location within Lake County.

Section 3

When Are Property Taxes Due?

For the 2025/2026 tax year in Lake County, property taxes are due in two installments:

Pro tip: If you pay through mortgage escrow, your lender splits these payments across your monthly mortgage. If you pay directly, set calendar reminders to avoid late penalties.
Section 4

Supplemental Tax Bills

Supplemental property taxes in Lake County are triggered when there is a change in ownership or new construction that increases a property's assessed value during the tax year. The most common trigger is the completion of new construction or major improvements that add value to your property after the annual assessment date.

Supplemental taxes are calculated on the difference between the old and new assessed values, prorated for the remaining months in the tax year. For example, if a $100,000 addition is completed in July and your effective tax rate is 7%, the supplemental tax would be approximately $3,500 (for the remaining 6 months of the year). These supplemental bills are issued separately from your regular property tax bill and have their own payment deadlines.

Example Calculation

Here are three examples showing annual property tax calculations for different home values in Lake County:

Example 1: $300,000 Home

  • Assessed Value: $300,000
  • Effective Tax Rate: 6.75% (mid-range)
  • Annual Tax: $20,250
  • Monthly Escrow: $1,688

Example 2: $600,000 Home

  • Assessed Value: $600,000
  • Effective Tax Rate: 6.75%
  • Annual Tax: $40,500
  • Monthly Escrow: $3,375

Example 3: $1,000,000 Home

  • Assessed Value: $1,000,000
  • Effective Tax Rate: 6.75%
  • Annual Tax: $67,500
  • Monthly Escrow: $5,625

Note: These calculations assume mid-range tax rates. Your actual rate may vary based on special districts serving your property. Tax credits that reduce your tax bill are available but require separate applications - they are not automatically applied.

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Section 5

Escrow & Property Taxes

Most mortgage lenders in Lake County require borrowers to maintain an escrow account for property taxes. Your lender collects monthly payments equal to 1/12th of your estimated annual property tax bill and holds these funds to pay your taxes when due. Lenders typically pay the first half of taxes by February 28th and the second half by June 15th, or make full payment by April 30th.

It's important to review your annual escrow statement to ensure adequate funds are being collected. Property tax increases, especially from voter-approved bond measures or mill levy increases, can create escrow shortages. You can verify your lender made proper tax payments by checking with the Lake County Treasurer's Office online or by phone. If you pay your own taxes (no escrow), remember that you can pay in two installments or in full, with the full payment deadline of April 30th typically offering the most flexibility.

How HonestCasa Helps
  • Understand whether your escrow is set correctly
  • See how rising taxes will change your monthly payment
  • Plan ahead instead of being surprised by "shortage" letters
Section 6

Frequently Asked Questions

Q: When are property taxes due in Lake County for 2025? A: For 2025 taxes (covering 2024 assessments), the first half is due February 28, 2025, and the second half is due June 15, 2025. You can also pay in full by April 30, 2025. U.S. postmarks are accepted for on-time payment.

Q: What tax credits are available and do I need to apply? A: Various tax credits may be available to reduce your tax bill, but most require separate applications and are not automatically applied. Contact the Lake County Assessor's Office to learn about available credits and application requirements for your specific situation.

Q: Is there a homestead credit in Lake County? A: Check with the Lake County Assessor's Office for current homestead or senior property tax credits. These typically require annual applications and have specific eligibility requirements and deadlines.

Q: How do I know which special districts serve my property? A: Your property tax bill will list all special districts that apply to your property. You can also contact the Lake County Assessor's Office with your address or parcel number to determine which districts serve your area.

Q: When are properties reassessed? A: Colorado law requires properties to be reassessed every two years. Contact the Lake County Assessor's Office for the current assessment schedule and appeal process information.

Q: What are the penalties for late payment? A: Late payments incur penalties and interest. Delinquent tax notices are typically sent in July. Contact the Lake County Treasurer's Office for specific penalty rates and payment options.

Q: Can I pay property taxes online? A: Contact the Lake County Treasurer's Office at their official website or by phone to learn about available online payment options and accepted payment methods.

Q: How do I appeal my property assessment? A: Assessment appeals must be filed within specific deadlines. Contact the Lake County Assessor's Office for current appeal procedures, deadlines, and required forms for challenging your property's assessed value.

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