Grand Junction, Colorado Property Taxes
The median property tax rate in Grand Junction, CO is 0.50%, considerably lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Grand Junction at $247,955, the typical annual property tax bill reaches $1,238, which is significantly less than the national median of $2,690. Property taxes in Grand Junction are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Grand Junction'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 Grand Junction 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
Grand Junction, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.5%
Estimate Property Tax Bill
$1,240
Ownwell’s Grand Junction Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Grand Junction with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grand Junction 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 Grand Junction, Colorado
Property taxes in Grand Junction, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grand Junction is 0.50%, lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Grand Junction set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grand Junction 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 Grand Junction's effective property tax rate to other areas in Colorado and the national median. For comparison, the 81503 zip code has the highest median property tax rate of 0.56%, while the 81506 zip code has the lowest median tax rate of 0.49%. Understanding how these areas compare with Grand Junction provides valuable insights into the varying tax landscape across Mesa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grand Junction Tax Rate
0.50%
Average Mesa County Tax Rate
0.50%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grand Junction, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81501 | 0.25% | 0.49% | 0.50% | 0.50% | 0.50% |
| 81503 | 0.35% | 0.49% | 0.56% | 0.58% | 0.61% |
| 81504 | 0.31% | 0.50% | 0.53% | 0.54% | 0.56% |
| 81505 | 0.33% | 0.50% | 0.50% | 0.50% | 0.50% |
| 81506 | 0.33% | 0.49% | 0.49% | 0.49% | 0.50% |
| 81507 | 0.35% | 0.44% | 0.49% | 0.50% | 0.52% |
Source: Ownwell
Property Tax Assessment Values Across Grand Junction, Colorado
In Grand Junction, 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 Mesa County Assessor 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 Grand Junction, 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 instance, the zip code with the highest median tax bill is 81507 at $1,792, while the lowest is 81501 at $978. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Grand Junction, Colorado
Source: Ownwell
$115,565
$294,468
$473,370
Average Grand Junction Assessed Value
$247,955
Average Mesa County Assessed Value
$241,920
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grand Junction, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81501 | $50,000 | $154,420 | $205,690 | $253,420 | $302,046 |
| 81503 | $123,570 | $176,580 | $220,650 | $299,530 | $367,990 |
| 81504 | $60,000 | $175,030 | $230,630 | $265,975 | $308,738 |
| 81505 | $37,950 | $192,040 | $292,610 | $364,950 | $543,570 |
| 81506 | $168,490 | $245,732 | $318,285 | $403,215 | $513,390 |
| 81507 | $206,590 | $285,842 | $377,285 | $510,235 | $666,710 |
Source: Ownwell
Property Tax Bills Across Grand Junction, Colorado
In Grand Junction, property tax bills are calculated based on the assessed value of a home, which is determined by the Mesa County Assessor's Office. The assessed value is a percentage of the property's market value. For homeowners in Grand Junction, the property tax rate is applied to this assessed value to determine the annual tax bill. Various factors, such as property size, location, and improvements, influence the assessed value. Homeowners in Grand Junction can expect a range of property tax bills. At the 25th percentile, the tax bill is approximately $883, while those at the 75th percentile may see around $1,623. The highest median tax bill in the area is $1,792, found in ZIP code 81507, whereas the lowest median tax bill is $978 in ZIP code 81501. Compared to the national median property tax rate of 0.99%, Grand Junction offers a relatively moderate tax burden, impacting homeowners by providing essential public services while maintaining affordability.
Average Grand Junction Tax Bill
$1,238
Average Mesa County Tax Bill
$1,213
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Grand Junction, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81501 | $251 | $657 | $978 | $1,229 | $1,475 |
| 81503 | $600 | $928 | $1,212 | $1,587 | $1,955 |
| 81504 | $332 | $797 | $1,172 | $1,384 | $1,615 |
| 81505 | $180 | $947 | $1,416 | $1,787 | $2,689 |
| 81506 | $705 | $1,085 | $1,428 | $1,887 | $2,435 |
| 81507 | $894 | $1,282 | $1,792 | $2,462 | $3,222 |
Source: Ownwell