Watkins, Colorado Property Taxes
The median property tax rate in Watkins, CO is 0.37%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Watkins at $602,000, the typical annual property tax bill reaches $2,013, which is below the national median of $2,690. Property taxes in Watkins are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Watkins' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Watkins 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
Watkins, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.37%
Estimate Property Tax Bill
$2,227
Ownwell’s Watkins Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Watkins with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Watkins 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 Watkins, Colorado
Property taxes in Watkins, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Watkins is 0.37%, significantly lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Watkins set these rates annually, and they can vary significantly across different neighborhoods. Each year, Watkins 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 Watkins' effective property tax rate to other counties in Colorado and the national median. For comparison, the highest median property tax rate in Colorado can be found in certain areas, while other regions may have much lower rates. Understanding how these cities compare with Watkins 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 Watkins Tax Rate
0.37%
Average Adams County Tax Rate
0.57%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Watkins, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80137 | 0.27% | 0.33% | 0.37% | 0.53% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Watkins, Colorado
In Watkins, 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 Appraisal District 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 Watkins, 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 Watkins helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in Watkins is found in the 80137 zip code, amounting to $2,013.
Average Watkins Assessed Value
$602,000
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 Watkins, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80137 | $20,101 | $121,961 | $602,000 | $730,237 | $804,251 |
Source: Ownwell
Property Tax Bills Across Watkins, Colorado
Property tax bills in Watkins, located in Adams County, CO, are determined based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the market value, which is established by the county assessor. For homeowners in Watkins, the median home price is $602,000. The property tax rate is applied to this assessed value to calculate the annual tax bill. In Watkins, property tax bills can vary significantly. For example, the tax bill at the 25th percentile is $855, while at the 75th percentile, it rises to $2567. Homeowners at the 90th percentile can expect to pay around $3001. Interestingly, the highest and lowest median tax bills in the area are both $2013, specifically in the 80137 zip code. These property taxes fund essential local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Watkins' property tax rates can have a noticeable impact on homeowners, influencing their overall cost of living and financial planning.
Average Watkins Tax Bill
$2,013
Average Adams County Tax Bill
$2,770
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Watkins, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80137 | $105 | $855 | $2,013 | $2,567 | $3,001 |
Source: Ownwell