Gilcrest, Colorado Property Taxes
The median property tax rate in Gilcrest, CO is 0.43%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With a median home value of $347,246 in Gilcrest, the typical annual property tax bill amounts to $1,452, which is well below the national median of $2,690. Property taxes in Gilcrest are based on the assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Gilcrest's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Gilcrest or another part of Weld County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gilcrest, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.43%
Estimate Property Tax Bill
$1,493
Ownwell’s Gilcrest Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gilcrest with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gilcrest 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 Gilcrest, Colorado
Property taxes in Gilcrest, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gilcrest is 0.43%, significantly lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Gilcrest set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gilcrest 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 Gilcrest's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80623 zip code has the highest median property tax rate of 0.43%, while it also has the lowest median tax rate of 0.43%. Understanding how these cities compare with Gilcrest provides valuable insights into the varying tax landscape across Weld County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gilcrest Tax Rate
0.43%
Average Weld County Tax Rate
0.49%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gilcrest, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80623 | 0.27% | 0.39% | 0.43% | 0.44% | 0.45% |
Source: Ownwell
Property Tax Assessment Values Across Gilcrest, Colorado
In Gilcrest, 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 Weld 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 Gilcrest, 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 Gilcrest helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Gilcrest is $347,246, with tax bills ranging from $1,114 at the 25th percentile to $1,729 at the 90th percentile, all within the 80623 zip code.
Average Gilcrest Assessed Value
$347,246
Average Weld County Assessed Value
$452,949
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gilcrest, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80623 | $276,069 | $322,222 | $347,246 | $366,739 | $399,751 |
Source: Ownwell
Property Tax Bills Across Gilcrest, Colorado
In Gilcrest, situated in Weld County, CO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the home's market value. For instance, if a home has a market value of $347,246, the assessed value will be a fraction of this amount, as determined by state law. The tax rate is then applied to this assessed value to calculate the annual property tax bill. Several factors influence the final tax bill, including the property's location, the local tax rate, and any applicable exemptions or deductions. Homeowners in Gilcrest can expect a range of property tax bills. For example, those at the 25th percentile pay around $1,114, while those at the 75th percentile pay about $1,575. The highest median tax bill in the area is $1,452. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting homeowners and the community.
Average Gilcrest Tax Bill
$1,452
Average Weld County Tax Bill
$2,133
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Gilcrest, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80623 | $830 | $1,114 | $1,452 | $1,575 | $1,729 |
Source: Ownwell