Grant, Colorado Property Taxes
The median property tax rate in Grant, CO is 0.44%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Grant at $438,257, the typical annual property tax bill is $1,824, which is well below the national median of $2,690. Property taxes in Grant are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Grant'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 Grant 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
Grant, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.44%
Estimate Property Tax Bill
$1,928
Ownwell's Grant Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or prospective buyers looking to estimate their annual property taxes in Grant. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Grant to provide an accurate estimate of your property tax bill. This valuable resource offers a clear understanding of potential tax liabilities, empowering you to make informed financial decisions. For those interested in more granular insights, you can explore neighborhood-specific trends further down the page. Your property's assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Grant, Colorado
Property taxes in Grant, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grant is 0.44%, lower than both the Colorado state median of 0.51% and the U.S. national median of 0.99%. Local government entities within Grant set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grant 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 Grant's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80448 zip code has both the highest and lowest median property tax rate of 0.44%, reflecting a uniform rate within the area. Understanding how these cities compare with Grant provides valuable insights into the varying tax landscape across Park County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grant Tax Rate
0.44%
Average Park County Tax Rate
0.44%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grant, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80448 | 0.38% | 0.44% | 0.44% | 0.44% | 0.44% |
Source: Ownwell
Property Tax Assessment Values Across Grant, Colorado
In Grant, 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 Park 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 Grant, 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. Being aware of these valuation processes in Grant helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $1,824, found in zip code 80448.
Average Grant Assessed Value
$438,257
Average Park County Assessed Value
$344,823
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grant, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80448 | $205,669 | $285,221 | $438,257 | $576,445 | $761,350 |
Source: Ownwell
Property Tax Bills Across Grant, Colorado
In Grant, located in Park County, CO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the property's market value, which in Grant has a median home price of $438,257. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the assessed value, including the property's location, size, and condition. Additionally, local tax rates can vary based on funding needs for public services like schools and infrastructure. For homeowners in Grant, the tax bill can range significantly. At the 25th percentile, a homeowner might pay around $1,223, while at the 75th percentile, the tax bill could be about $2,464. For those at the 90th percentile, the bill can reach up to $3,317. Understanding these factors can help homeowners anticipate their property tax responsibilities and budget accordingly.
Average Grant Tax Bill
$1,824
Average Park County Tax Bill
$1,504
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Grant, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80448 | $893 | $1,223 | $1,824 | $2,464 | $3,317 |
Source: Ownwell