Westminster, Colorado Property Taxes
The median property tax rate in Westminster, CO is 0.52%, considerably lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Westminster at $507,000, the typical annual property tax bill reaches $2,653, slightly below the national median of $2,690. Property taxes in Westminster 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 Westminster'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 Westminster 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
Westminster, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.52%
Estimate Property Tax Bill
$2,636
Ownwell’s Westminster Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Westminster with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Westminster 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 Westminster, Colorado
Property taxes in Westminster, Colorado, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Westminster is 0.52%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Westminster set these rates annually, and they can vary significantly across different neighborhoods. Each year, Westminster 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 Westminster's effective property tax rate to other areas in Colorado and the national median. For comparison, the 80020 zip code has the highest median property tax rate of 2.00%, while the 80023 zip code has the lowest median tax rate of 0.48%. Understanding how these areas compare with Westminster 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 Westminster Tax Rate
0.52%
Average Adams County Tax Rate
0.57%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Westminster, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80003 | N/A | N/A | N/A | N/A | N/A |
| 80020 | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% |
| 80023 | 0.38% | 0.42% | 0.48% | 0.56% | 0.61% |
| 80030 | 0.39% | 0.49% | 0.53% | 0.56% | 0.61% |
| 80031 | 0.41% | 0.48% | 0.52% | 0.56% | 0.62% |
| 80234 | 0.37% | 0.49% | 0.53% | 0.56% | 0.60% |
| 80640 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Westminster, Colorado
In Westminster, 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 Westminster, 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. The median home price in Westminster is $507,000, with tax bills ranging from $2,270 at the 25th percentile to $4,596 at the 90th percentile. Notably, the highest median tax bill is $8,355 in the 80020 zip code, while the lowest median tax bill is $2,438 in the 80030 zip code. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Westminster Assessed Value
$507,000
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 Westminster, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80003 | N/A | N/A | N/A | N/A | N/A |
| 80020 | $408,349 | $414,482 | $418,325 | $422,965 | $430,534 |
| 80023 | $931,200 | $1,157,500 | $1,333,000 | $1,801,500 | $2,010,200 |
| 80030 | $387,000 | $422,500 | $460,000 | $501,000 | $558,000 |
| 80031 | $365,000 | $453,000 | $529,000 | $664,000 | $851,200 |
| 80234 | $408,000 | $429,500 | $801,000 | $910,500 | $1,038,600 |
| 80640 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Westminster, Colorado
In Westminster, 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 Westminster is $507,000. Property tax rates are applied to this assessed value to determine the final tax bill. Factors such as property location, improvements, and local tax rates can influence the assessed value. Homeowners in Westminster can expect their tax bills to vary significantly; the 25th percentile tax bill is around $2,270, while the 75th percentile reaches $3,330. For those in the 90th percentile, tax bills can be as high as $4,596. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax burdens. The specific zip codes within Westminster show a range of median tax bills, with the highest being $8,355 in zip code 80020 and the lowest at $2,438 in zip code 80030. These variances highlight how location and property value play crucial roles in determining property tax bills.
Average Westminster Tax Bill
$2,653
Average Adams County Tax Bill
$2,770
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Westminster, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80003 | N/A | N/A | N/A | N/A | N/A |
| 80020 | $8,156 | $8,278 | $8,355 | $8,448 | $8,599 |
| 80023 | $4,333 | $4,720 | $6,382 | $9,027 | $10,672 |
| 80030 | $1,736 | $2,189 | $2,438 | $2,667 | $2,985 |
| 80031 | $1,740 | $2,306 | $2,769 | $3,400 | $4,533 |
| 80234 | $1,823 | $2,332 | $3,926 | $4,631 | $6,234 |
| 80640 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell