Greenwood Village, Colorado Property Taxes
The median property tax rate in Greenwood Village, CO is 0.58%, slightly higher than the Colorado state median of 0.55% but lower than the national median of 0.99%. With a median home value of $880,000 in Greenwood Village, the typical annual property tax bill reaches $5,599, significantly surpassing the national median of $2,690. Property taxes in Greenwood Village 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 Greenwood Village'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 Greenwood Village 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
Greenwood Village, 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 Greenwood Village Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Greenwood Village to provide an estimate of your property tax bill. This valuable 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 Greenwood Village, Colorado
Property taxes in Greenwood Village, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Greenwood Village is 0.58%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Greenwood Village set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greenwood Village 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 Greenwood Village's effective property tax rate to other areas in Arapahoe County and the national median. For comparison, the 80121 zip code has the highest median property tax rate of 0.70%, while the 80111 zip code has the lowest median tax rate of 0.58%. Understanding how these areas compare with Greenwood Village 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 Greenwood Village Tax Rate
0.58%
Average Arapahoe County Tax Rate
0.70%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Greenwood Village, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80111 | 0.53% | 0.58% | 0.58% | 0.60% | 0.68% |
| 80121 | 0.56% | 0.58% | 0.70% | 0.70% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across Greenwood Village, Colorado
In Greenwood Village, 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 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 Greenwood Village, 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 example, the median home price in Greenwood Village is $880,000, with tax bills ranging significantly across different zip codes. The highest median tax bill is $10,280 in zip code 80121, while the lowest is $4,601 in zip code 80111. By understanding 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.
Property Tax Assessment Values Across Greenwood Village, Colorado
Source: Ownwell
$73,750
$1,300,035
$2,526,320
Average Greenwood Village Assessed Value
$880,000
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 Greenwood Village, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80111 | $233,340 | $335,800 | $730,300 | $1,022,700 | $1,453,000 |
| 80121 | $901,460 | $1,164,700 | $1,559,300 | $2,097,600 | $2,940,560 |
Source: Ownwell
Property Tax Bills Across Greenwood Village, Colorado
In Greenwood Village, Arapahoe County, CO, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and is typically a percentage of the property's market value. For instance, with a median home price of $880,000, the assessed value forms the basis for the tax calculation. The tax rate, applied to the assessed value, varies but is influenced by local government budgets and school district requirements. Factors such as property location, improvements, and market conditions are considered when determining the assessed value. Homeowners in Greenwood Village can expect tax bills that range significantly. For instance, the 25th percentile tax bill is approximately $3,749, while the 75th percentile tax bill is around $8,887. For those at the 90th percentile, tax bills can reach up to $13,333. This variability affects homeowners differently, with some facing higher financial obligations than others, depending on their property's assessed value and specific tax rate.
Average Greenwood Village Tax Bill
$5,599
Average Arapahoe County Tax Bill
$2,536
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Greenwood Village, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80111 | $1,644 | $2,868 | $4,601 | $6,253 | $8,833 |
| 80121 | $5,488 | $7,083 | $10,280 | $14,090 | $19,879 |
Source: Ownwell