Wheat Ridge, Colorado Property Taxes
The median property tax rate in Wheat Ridge, CO is 0.62%, which is lower than the national median of 0.99% but higher than the Colorado state median of 0.55%. With a median home value of $439,095 in Wheat Ridge, the typical annual property tax bill amounts to $2,662, slightly below the national median of $2,690. Property taxes in Wheat Ridge are calculated based on the tax assessed value, which is often less than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Wheat Ridge's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Wheat Ridge or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wheat Ridge, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$2,722
Ownwell’s Wheat Ridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wheat Ridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wheat Ridge to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Wheat Ridge, Colorado
Property taxes in Wheat Ridge, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wheat Ridge is 0.62%, which is lower than the U.S. national median of 0.99%. Local government entities within Wheat Ridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wheat Ridge estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Wheat Ridge's effective property tax rate to other areas in Jefferson County and the national median. For comparison, the 80215 zip code has the highest median property tax rate of 0.66%, while the 80214 zip code has the lowest median tax rate of 0.62%. Understanding how these areas compare with Wheat Ridge provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wheat Ridge Tax Rate
0.62%
Average Jefferson County Tax Rate
0.66%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wheat Ridge, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80002 | N/A | N/A | N/A | N/A | N/A |
| 80033 | 0.49% | 0.62% | 0.62% | 0.65% | 0.67% |
| 80212 | 0.49% | 0.62% | 0.62% | 0.62% | 0.62% |
| 80214 | 0.49% | 0.61% | 0.62% | 0.62% | 0.62% |
| 80215 | 0.54% | 0.56% | 0.66% | 0.66% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Wheat Ridge, Colorado
In Wheat Ridge, Colorado, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Jefferson County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Wheat Ridge, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. For example, the highest median tax bill in Wheat Ridge is $3,666 in the 80215 zip code, while the lowest median tax bill is $2,517 in the 80214 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wheat Ridge Assessed Value
$439,095
Average Jefferson County Assessed Value
$436,276
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wheat Ridge, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80002 | N/A | N/A | N/A | N/A | N/A |
| 80033 | $222,175 | $363,618 | $436,774 | $513,431 | $601,828 |
| 80212 | $245,249 | $382,587 | $435,761 | $491,178 | $575,797 |
| 80214 | $251,761 | $371,089 | $419,301 | $470,238 | $532,776 |
| 80215 | $496,711 | $529,524 | $582,037 | $653,615 | $746,134 |
Source: Ownwell
Property Tax Bills Across Wheat Ridge, Colorado
In Wheat Ridge, property tax bills are calculated based on the assessed value of the property, which is a percentage of its market value. The assessed value is determined by the Jefferson County Assessor's Office and is used to calculate the tax bill by applying the local tax rate. For homeowners in Wheat Ridge, the tax rate is influenced by various factors including local government budgets, school district funding, and other public services. The median home price in Wheat Ridge is $439,095, and the property tax rate is applied to the assessed value of this home price to determine the annual tax bill. Homeowners in the 25th percentile can expect a tax bill around $2,178, while those in the 75th percentile may see bills closer to $3,223. The highest median tax bill in the area is $3,666, found in zip code 80215, whereas the lowest median tax bill is $2,517 in zip code 80214. These property taxes directly impact homeowners by influencing their overall housing costs and potentially affecting property values.
Average Wheat Ridge Tax Bill
$2,662
Average Jefferson County Tax Bill
$2,797
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Wheat Ridge, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80002 | N/A | N/A | N/A | N/A | N/A |
| 80033 | $1,414 | $2,150 | $2,649 | $3,219 | $4,036 |
| 80212 | $1,432 | $2,167 | $2,647 | $3,009 | $3,395 |
| 80214 | $1,534 | $2,136 | $2,517 | $2,827 | $3,231 |
| 80215 | $2,848 | $3,242 | $3,666 | $4,183 | $4,804 |
Source: Ownwell