Bennett, Colorado Property Taxes
The median property tax rate in Bennett, CO is 0.48%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With a median home value of $439,000 in Bennett, the typical annual property tax bill amounts to $1,971, which is well below the national median of $2,690. Property taxes in Bennett are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Bennett'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 Bennett 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
Bennett, Colorado Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$1,100
Ownwell’s Bennett Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bennett with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bennett 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 Bennett, Colorado
Property taxes in Bennett, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bennett is 0.48%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Bennett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bennett 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 Bennett's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80601 zip code has the highest median property tax rate of 0.57%, while the 80102 zip code has the lowest median tax rate of 0.48%. Understanding how these cities compare with Bennett provides valuable insights into the varying tax landscape across Adams County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bennett Tax Rate
0.48%
Average Adams County Tax Rate
0.57%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bennett, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80102 | 0.32% | 0.43% | 0.48% | 0.74% | 0.82% |
| 80136 | N/A | N/A | N/A | N/A | N/A |
| 80601 | 0.57% | 0.57% | 0.57% | 0.57% | 0.57% |
Source: Ownwell
Property Tax Assessment Values Across Bennett, Colorado
In Bennett, 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 Adams 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 Bennett, 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 Bennett is $1,973 in the 80102 zip code, while the lowest is $199 in the 80601 zip code. Being aware of these valuation processes in Bennett helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bennett Assessed Value
$439,000
Average Adams County Assessed Value
$489,000
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bennett, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80102 | $66,000 | $362,500 | $440,000 | $521,000 | $694,838 |
| 80136 | N/A | N/A | N/A | N/A | N/A |
| 80601 | $34,896 | $34,896 | $34,896 | $34,896 | $34,896 |
Source: Ownwell
Property Tax Bills Across Bennett, Colorado
In Bennett, located in Adams County, CO, property tax bills are calculated based on the assessed value of your home, which is a percentage of its market value. The median home price in Bennett is $439,000. Property taxes are then determined by applying the local tax rate to this assessed value. For example, the 25th percentile tax bill is $1,675, while the 75th percentile tax bill is $3,630. At the 90th percentile, homeowners might see a tax bill of up to $4,286. The highest median tax bill in the area is $1,973, found in the 80102 zip code, while the lowest is $199 in the 80601 zip code. These variations can be attributed to differences in property values and local tax rates. Compared to the national median property tax rate of 0.99%, Bennett's rates can significantly impact homeowners, affecting their annual financial planning and overall cost of homeownership. Understanding these factors can help homeowners better anticipate their tax obligations.
Average Bennett Tax Bill
$1,971
Average Adams County Tax Bill
$2,770
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Bennett, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80102 | $396 | $1,678 | $1,973 | $3,630 | $4,286 |
| 80136 | N/A | N/A | N/A | N/A | N/A |
| 80601 | $199 | $199 | $199 | $199 | $199 |
Source: Ownwell