Niwot, Colorado Property Taxes
The median property tax rate in Niwot, 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 Niwot at $1,093,150, the typical annual property tax bill reaches $5,131, exceeding the national median of $2,690. Property taxes in Niwot 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 Niwot'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 Niwot 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
Niwot, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.5%
Estimate Property Tax Bill
$5,466
Ownwell’s Niwot Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Niwot with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Niwot 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 Niwot, Colorado
Property taxes in Niwot, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Niwot is 0.50%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Niwot set these rates annually, and they can vary significantly across different neighborhoods. Each year, Niwot 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 Niwot's effective property tax rate to other areas in Boulder County and the national median. For comparison, the 80544 zip code has the highest median property tax rate of 0.55%, while the 80503 zip code has the lowest median tax rate of 0.49%. Understanding how these areas compare with Niwot provides valuable insights into the varying tax landscape across Boulder County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Niwot Tax Rate
0.50%
Average Boulder County Tax Rate
0.50%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Niwot, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80503 | 0.42% | 0.45% | 0.49% | 0.52% | 0.55% |
| 80504 | 0.48% | 0.51% | 0.53% | 0.55% | 0.55% |
| 80544 | 0.42% | 0.47% | 0.55% | 0.56% | 0.57% |
Source: Ownwell
Property Tax Assessment Values Across Niwot, Colorado
In Niwot, 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 Boulder 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 Niwot, 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 Niwot helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $7,981 in the 80504 zip code, while the lowest is $3,783 in the 80544 zip code.
Average Niwot Assessed Value
$1,093,150
Average Boulder County Assessed Value
$722,900
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Niwot, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80503 | $363,861 | $676,700 | $1,093,100 | $1,597,100 | $2,484,920 |
| 80504 | $1,306,990 | $1,428,600 | $1,545,150 | $1,663,323 | $1,786,980 |
| 80544 | $519,600 | $579,350 | $698,600 | $845,950 | $932,600 |
Source: Ownwell
Property Tax Bills Across Niwot, Colorado
In Niwot, located in Boulder County, CO, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the market value, determined by the county assessor’s office. For homeowners in Niwot, the median home price is $1,093,150. Property tax rates are applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including the property's location within Boulder County, the specific tax rate set by local taxing authorities, and any applicable exemptions or abatements. For example, the tax bill at the 25th percentile is $3,310, while at the 75th percentile, it rises to $7,715. The tax bill at the 90th percentile can reach $11,832. These property taxes fund essential public services such as schools, emergency services, and infrastructure. For homeowners, understanding these factors is crucial as property taxes significantly impact annual expenses and long-term financial planning. Compared to the national median property tax rate of 0.99%, Niwot's property tax rates reflect the region's higher property values and funding needs.
Average Niwot Tax Bill
$5,131
Average Boulder County Tax Bill
$3,545
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Niwot, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80503 | $1,961 | $3,297 | $5,118 | $7,656 | $12,192 |
| 80504 | $6,768 | $7,337 | $7,981 | $8,662 | $9,304 |
| 80544 | $2,476 | $3,083 | $3,783 | $4,392 | $4,894 |
Source: Ownwell