Fort Collins, Colorado Property Taxes
The median property tax rate in Fort Collins, CO is 0.45%, considerably lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Fort Collins at $679,000, the typical annual property tax bill reaches $2,900, slightly exceeding the national median of $2,690. Property taxes in Fort Collins 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 Fort Collins' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Fort Collins 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
Fort Collins, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.45%
Estimate Property Tax Bill
$3,056
Ownwell’s Fort Collins Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Fort Collins with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fort Collins 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 Fort Collins, Colorado
Property taxes in Fort Collins, Colorado, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fort Collins is 0.45%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Fort Collins set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fort Collins 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 Fort Collins' effective property tax rate to other counties in Colorado and the national median. For comparison, the zip code 80524 has the highest median property tax rate of 0.45%, while the same zip code also has the lowest median tax rate of 0.45%. Understanding how these cities compare with Fort Collins 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 Fort Collins Tax Rate
0.45%
Average Weld County Tax Rate
0.49%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fort Collins, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80524 | 0.32% | 0.42% | 0.45% | 0.52% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across Fort Collins, Colorado
In Fort Collins, 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 Fort Collins, 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 instance, the zip code 80524 has the highest median tax bill at $2,900, while other areas may see different values. Being aware of these valuation processes in Fort Collins helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fort Collins Assessed Value
$679,000
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 Fort Collins, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80524 | $42,401 | $64,755 | $679,000 | $1,015,009 | $1,360,170 |
Source: Ownwell
Property Tax Bills Across Fort Collins, Colorado
In Fort Collins, located in Weld County, CO, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is determined by the county assessor, who evaluates the property's market value and applies an assessment rate. For residential properties, this rate is typically a percentage of the market value. Property tax rates in Fort Collins are influenced by various factors, including local government budgets, school district funding needs, and public service requirements. Homeowners in Fort Collins can expect a wide range of tax bills. For instance, those in the 25th percentile pay around $451, while those in the 75th percentile face bills closer to $5,186. The 90th percentile sees even higher amounts, with tax bills reaching up to $6,581. The median home price in the area is $679,000, which can significantly impact the tax bill. Comparing this to the national median property tax rate of 0.99%, Fort Collins residents may find their property tax rates higher, reflecting the local economic and funding needs.
Average Fort Collins Tax Bill
$2,900
Average Weld County Tax Bill
$2,133
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Fort Collins, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80524 | $244 | $451 | $2,900 | $5,186 | $6,581 |
Source: Ownwell