Centennial, Colorado Property Taxes
The median property tax rate in Centennial, CO is 0.71%, which is lower than the national median of 0.99% but higher than the Colorado state median of 0.55%. With the median home value in Centennial at $466,300, the typical annual property tax bill reaches $3,377, surpassing the national median of $2,690. Property taxes in Centennial are calculated based on the assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Centennial'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 Centennial 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
Centennial, Colorado Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$1,100
Ownwell’s Centennial Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Centennial with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Centennial 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 Centennial, Colorado
Property taxes in Centennial, Colorado, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Centennial is 0.71%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Centennial set these rates annually, and they can vary significantly across different neighborhoods. Each year, Centennial 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 Centennial's effective property tax rate to other areas in Arapahoe County and the national median. For comparison, the 80122 zip code has the highest median property tax rate of 0.79%, while the 80111 zip code has the lowest median tax rate of 0.67%. Understanding how these areas compare with Centennial provides valuable insights into the varying tax landscape across Arapahoe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Centennial Tax Rate
0.71%
Average Arapahoe County Tax Rate
0.70%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Centennial, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80015 | 0.57% | 0.69% | 0.69% | 0.70% | 0.80% |
| 80016 | 0.58% | 0.62% | 0.70% | 0.85% | 0.85% |
| 80111 | 0.55% | 0.60% | 0.67% | 0.69% | 0.73% |
| 80112 | 0.56% | 0.67% | 0.69% | 0.72% | 0.78% |
| 80121 | 0.62% | 0.69% | 0.79% | 0.79% | 0.82% |
| 80122 | 0.62% | 0.77% | 0.79% | 0.81% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Centennial, Colorado
In Centennial, 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 Arapahoe 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 Centennial, 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, homeowners in the 80016 zip code have the highest median tax bill at $4,916, while those in the 80015 zip code experience the lowest median tax bill at $2,966. 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 Centennial helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Centennial, Colorado
Source: Ownwell
$73,750
$1,300,035
$2,526,320
Average Centennial Assessed Value
$466,300
Average Arapahoe County Assessed Value
$387,300
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Centennial, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80015 | $358,200 | $383,925 | $423,900 | $481,700 | $555,260 |
| 80016 | $499,220 | $555,700 | $696,300 | $922,800 | $1,140,440 |
| 80111 | $482,800 | $508,000 | $564,400 | $632,100 | $829,600 |
| 80112 | $372,900 | $434,400 | $504,300 | $599,350 | $699,100 |
| 80121 | $384,020 | $413,500 | $452,400 | $522,300 | $653,620 |
| 80122 | $275,820 | $374,325 | $455,000 | $543,300 | $643,270 |
Source: Ownwell
Property Tax Bills Across Centennial, Colorado
In Centennial, located in Arapahoe County, Colorado, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. The assessed value is a percentage of the property's market value. Homeowners in Centennial face a median property tax bill of $3,571, which is influenced by several factors, including property size, location, and improvements. For example, the tax bill in the 25th percentile is around $2,796, while it can go up to $5,078 in the 90th percentile, reflecting the variability in property values and tax rates within the area. The tax rate in Centennial is influenced by local government budgets, school districts, and other public services. Homeowners in the 80016 zip code experience the highest median tax bill at $4,916, while those in the 80015 zip code have the lowest at $2,966. Compared to the national median property tax rate of 0.99%, Centennial's rates can significantly impact household budgets, making it crucial for homeowners to understand their property assessments and potential tax liabilities.
Average Centennial Tax Bill
$3,377
Average Arapahoe County Tax Bill
$2,536
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Centennial, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80015 | $2,393 | $2,619 | $2,966 | $3,419 | $4,124 |
| 80016 | $3,563 | $4,198 | $4,916 | $6,362 | $7,667 |
| 80111 | $2,814 | $3,272 | $3,704 | $4,387 | $5,292 |
| 80112 | $2,351 | $2,873 | $3,448 | $4,269 | $5,063 |
| 80121 | $2,568 | $3,071 | $3,508 | $4,043 | $5,054 |
| 80122 | $2,102 | $2,742 | $3,477 | $4,237 | $5,098 |
Source: Ownwell