Penrose, Fremont County, Colorado Property Taxes
Property Taxes in Penrose, Colorado
Median Penrose, Colorado effective property tax rate: 0.38%, significantly lower than the national median of 1.02%, and lower than the Colorado state median of 0.50%.
Median Penrose, Colorado home value: $286,833
Median annual Penrose, Colorado tax bill: $1,113, $1,287 lower than the national median property tax bill of $2,400.
How are property taxes in Fremont calculated?
Property taxes in Penrose, Colorado 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 Penrose's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Penrose, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Penrose, Fremont County, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.38%
Estimate Property Tax Bill
$1,090
$1,011
How Does the Penrose Property Tax Calculator Work?
Use this Penrose property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Penrose's median effective tax rate of 0.38% — based on actual property records in Fremont County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Penrose's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Penrose: rates range from 0.38% in 81240 to 0.38% in 81240, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Penrose.
About Penrose Property Taxes
About Property Taxes in Penrose, Fremont, Colorado
Penrose’s median effective property tax rate of 0.38% is lower than the Colorado state median of 0.50% and lower than the national median of 1.02%. This rate reflects the Fremont County base levy combined with local school district levies and metro districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Penrose. Homeowners in the 81240 ZIP code carry a median effective rate of 0.38%, while those in the same ZIP also pay the same rate. This reflects how school district boundaries and local assessment districts are drawn across Fremont County. Understanding which part of Penrose you live in can make a meaningful difference to your annual tax bill.
Penrose homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the June 1, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Penrose, Fremont County, Colorado
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate.
While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Penrose's effective property tax rate to other cities in Colorado and the median property tax rates in Colorado and the U.S.
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 Penrose Tax Rate
0.38%
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 Fremont County Tax Rate
0.41%
Median Effective Colorado Tax Rate
0.50%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Penrose, Fremont County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81240 | 0.18% | 0.28% | 0.38% | 0.42% | 0.46% |
Source: Ownwell
Property Tax Assessment Values Across Penrose, Fremont County, Colorado
When examining property taxes in Penrose, 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 Fremont 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 Fremont 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 Penrose.
For example, the median home price in Penrose is $286,833, with tax bills ranging significantly across the county. 81240 has the highest median home price at $286,833.
Property Tax Assessment Values Across Penrose, Fremont County, Colorado
Source: Ownwell
$187,674
$379,403
$571,132
Median Penrose Market Value
$286,833
Median Fremont County Market Value
$278,691
Median Colorado Market Value
$519,879
Median United States Market Value
$235,294
Property Tax Assessment Values Across Penrose, Fremont County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81240 | $13,903 | $84,920 | $286,833 | $418,958 | $552,014 |
Source: Ownwell
Property Tax Bills Across Penrose, Fremont County, Colorado
Property tax bills in Penrose are calculated by applying the local tax rate to a home’s assessed value, which is based on the market value of the property. For homeowners, that means the bill is shaped by both the value of the home and the tax rates set by local taxing authorities.
With a median home price of $286,833, property taxes can vary widely from one homeowner to another. The typical tax bill in the area is $1,113, which is below the national median property tax bill of $2,400 and below the national median property tax rate of 1.02%. Bills in the area also range from $523 at the 25th percentile to $1,729 at the 75th percentile, with the 90th percentile reaching $2,375.
These differences show how assessed value and local rates can affect what homeowners owe each year.
Median Penrose Tax Bill
$1,113
Median Fremont County Tax Bill
$1,168
Median Colorado Tax Bill
$2,732
Median United States Tax Bill
$2,400
Property Tax Bills Across Penrose, Fremont County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81240 | $74 | $523 | $1,113 | $1,729 | $2,375 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | June 1 |
Links | |
|---|---|
| Fremont Tax Assessor | |
| Website | fremontcountyco-asr-web.tylerhost.net |