Platteville, Colorado Property Taxes
The median property tax rate in Platteville, CO is 0.34%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With a median home value of $438,150 in Platteville, the typical annual property tax bill comes to $1,444, which is well below the national median of $2,690. Property taxes in Platteville are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. By understanding Platteville's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether residing in the heart of Platteville or its surrounding areas, gaining insight into the local property tax system is beneficial for maximizing financial efficiency.
Last Updated June 14, 2024
Platteville, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.34%
Estimate Property Tax Bill
$1,490
Ownwell’s Platteville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Platteville with just two data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Platteville to estimate your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available as you scroll down. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Platteville, Colorado
Property taxes in Platteville, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Platteville is 0.34%, significantly lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Platteville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Platteville 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 Platteville's effective property tax rate to other counties in Colorado and the national median. For comparison, certain zip codes within Weld County have varying tax rates, providing valuable insights into the differing tax landscape across the region. Understanding how these areas compare with Platteville helps homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Platteville Tax Rate
0.34%
Average Weld County Tax Rate
0.49%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Platteville, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80651 | 0.24% | 0.32% | 0.34% | 0.39% | 0.49% |
Source: Ownwell
Property Tax Assessment Values Across Platteville, Colorado
In Platteville, 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 Platteville, 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 Platteville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,444, found in zip code 80651.
Average Platteville Assessed Value
$438,150
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 Platteville, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80651 | $94,416 | $357,804 | $438,150 | $525,282 | $731,464 |
Source: Ownwell
Property Tax Bills Across Platteville, Colorado
In Platteville, located in Weld County, CO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, with a median home price of $438,150, the assessed value is determined by local assessment rates. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as property size, location, and improvements can influence the assessed value. In Platteville, the property tax bills vary significantly. The 25th percentile tax bill stands at $1,090, while the 75th percentile reaches $1,739, and the 90th percentile can go up to $3,476. Compared to the national median property tax rate of 0.99%, Platteville's rates can lead to a considerable financial impact on homeowners. Understanding these variables helps homeowners anticipate their annual tax obligations and manage their finances accordingly.
Average Platteville Tax Bill
$1,444
Average Weld County Tax Bill
$2,133
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Platteville, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80651 | $638 | $1,090 | $1,444 | $1,739 | $3,476 |
Source: Ownwell