Mead, Colorado Property Taxes
The median property tax rate in Mead, CO is 0.58%, slightly higher than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Mead at $555,460, the typical annual property tax bill reaches $3,889, significantly surpassing the national median of $2,690. Property taxes in Mead are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Mead'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 Mead 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
Mead, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$3,222
Ownwell’s Mead Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mead with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mead 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 Mead, Colorado
Property taxes in Mead, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mead is 0.58%, which is below both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Mead set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mead 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 Mead's effective property tax rate to other areas in Colorado and the national median. For comparison, the 80504 zip code has the highest median property tax rate of 0.60%, while the 80542 zip code has the lowest median tax rate of 0.58%. Understanding how these areas compare with Mead 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 Mead Tax Rate
0.58%
Average Weld County Tax Rate
0.49%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mead, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80504 | 0.59% | 0.59% | 0.60% | 0.92% | 0.99% |
| 80542 | 0.39% | 0.53% | 0.58% | 0.82% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Mead, Colorado
In Mead, 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 Mead, 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. For instance, the median home price in Mead is $555,460, with tax bills ranging from $2,580 at the 25th percentile to $5,446 at the 90th percentile. The highest median tax bill is $3,902 in zip code 80542, while the lowest is $1,600 in zip code 80504. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mead Assessed Value
$555,460
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 Mead, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80504 | $190,887 | $192,638 | $273,214 | $682,481 | $712,726 |
| 80542 | $423,809 | $482,493 | $557,188 | $655,893 | $913,744 |
Source: Ownwell
Property Tax Bills Across Mead, Colorado
In Mead, located in Weld County, CO, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, a median home price in Mead is $555,460. The property tax rate for this area can vary, but the local tax bills range significantly, from the 25th percentile at $2,580 to the 90th percentile at $5,446. Several factors influence these tax bills, including property size, location, and any applicable exemptions. Homeowners in Mead experience varying tax obligations, with the highest median tax bill recorded at $3,902 in the 80542 zip code, while the lowest is $1,600 in the 80504 zip code. These property taxes fund essential community services like schools, infrastructure, and emergency services, impacting homeowners by contributing to the overall quality of life and property values in the area.
Average Mead Tax Bill
$3,889
Average Weld County Tax Bill
$2,133
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Mead, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80504 | $1,138 | $1,151 | $1,600 | $5,404 | $6,858 |
| 80542 | $1,893 | $2,605 | $3,902 | $4,856 | $5,419 |
Source: Ownwell