Real Estate Tax & HOA Fees in Cherry Creek, CO: What to Expect

Cherry Creek, CO, is one of Denver’s most desirable neighborhoods, featuring luxury homes, condos, and townhomes. However, before purchasing a home in the area, it’s essential to understand real estate taxes and HOA fees, which can impact overall homeownership costs. Here’s what buyers and homeowners need to know about property taxes and HOA fees in Cherry Creek.

1. Property Taxes in Cherry Creek, CO

✔ Current Property Tax Rate: The average property tax rate in Denver County is around 0.49% of assessed home value.
✔ Home Value Impact: With Cherry Creek’s luxury market, home values range from $800K to $5M+, resulting in annual property taxes between $4,000 - $25,000+.
✔ How Taxes Are Calculated: Property taxes are based on assessed value (set by the county assessor) multiplied by the local mill levy rate.

📊 Tax Tip: Homeowners can appeal assessed values if they believe their property is overvalued.

2. Understanding HOA Fees in Cherry Creek

Many Cherry Creek homes—especially condos and townhomes—are part of homeowners’ associations (HOAs), which require monthly or annual fees.

✔ Average HOA Fees: Ranges from $300 to $1,500+ per month, depending on the property type and amenities.
✔ Luxury Condo HOA Fees: High-rise condos with concierge services, pools, and security tend to have higher fees ($800-$1,500/month).
✔ Single-Family Home HOAs: Gated communities or planned developments may have lower HOA fees ($300-$600/month).

🏡 HOA Tip: Always review HOA documents before purchasing to understand rules, restrictions, and fee structures.

3. What Do HOA Fees Cover?

✔ Common Area Maintenance: Landscaping, snow removal, and community upkeep.
✔ Security & Concierge Services: Some luxury condos offer 24/7 concierge and private security.
✔ Utilities & Insurance: Some HOAs include water, trash, and building insurance in their fees.
✔ Amenities: Gyms, pools, clubhouses, and exclusive resident events.

💰 Cost Consideration: Higher HOA fees often reflect premium amenities and services.

4. Are Property Taxes & HOA Fees Worth It?

✔ Higher Property Values: Cherry Creek homes tend to appreciate faster than many other Denver neighborhoods.
✔ Luxury Lifestyle Benefits: HOAs maintain pristine neighborhoods, high-end amenities, and added security.
✔ Investment Potential: Many buyers see the higher tax and HOA costs as a trade-off for long-term property value growth.

📈 Investor Insight: For rental properties, HOA fees and taxes should be factored into cash flow calculations and return on investment.

Conclusion: Planning for Homeownership Costs in Cherry Creek

✔ Expect Property Taxes Based on Luxury Home Values
✔ HOA Fees Vary by Property Type & Amenities
✔ Understanding These Costs Helps Buyers Budget Effectively
✔ Cherry Creek’s High-End Market Justifies Higher Expenses

🏡 Thinking about buying a home in Cherry Creek? Let Corken + Company guide you through the real estate process and help you navigate taxes, fees, and costs!

📞 Call us today at 303-858-8003
🌐 Visit our website at www.corken.co
🏡 Real Estate Solutions Without Limits