Watkins, Colorado Property Taxes
The median property tax rate in Watkins, CO is 0.44%, considerably 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 $489,200, the typical annual property tax bill reaches $3,230, exceeding the national median of $2,690. Property taxes in Watkins 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 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
0.44%
Estimate Property Tax Bill
$2,152
$1,997
Ownwell’s Watkins Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Watkins with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Watkins to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available further down the page. Your property’s assessed value, determined by the county, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Watkins, Colorado
Property taxes in Watkins, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Watkins is 0.44%, 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's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80137 zip code has the highest median property tax rate of 0.44%, while the same 80137 zip code has the lowest median tax rate of 0.44%. Understanding how these cities compare with Watkins 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 Watkins Tax Rate
0.44%
Average Arapahoe County Tax Rate
0.70%
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 | 0.38% | 0.44% | 0.44% | 5.37% | 5.37% |
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 Arapahoe County Assessor's Office 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. The highest median tax bill in Watkins is $3,230, while the lowest is also $3,230, indicating a uniformity in tax assessments across different zip codes.
Average Watkins Assessed Value
$489,200
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 Watkins, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80137 | $65,085 | $67,578 | $489,200 | $670,000 | $748,920 |
Source: Ownwell
Property Tax Bills Across Watkins, Colorado
Property tax bills in Watkins, located in Arapahoe County, CO, are determined based on the assessed value of a property, which is a percentage of its market value. The median home price in Watkins is $489,200. Local tax rates are applied to this assessed value to calculate the annual tax bill. For homeowners in Watkins, the property tax bill can vary significantly. The 25th percentile tax bill is approximately $2,609, while the 75th percentile tax bill reaches around $3,496. At the 90th percentile, homeowners could see tax bills as high as $4,428. These tax bills are influenced by factors such as property size, location, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Watkins' property tax rates reflect the specific economic and real estate conditions of the area. Higher property tax bills can impact homeowners by increasing their annual housing costs, making it crucial for them to understand how these taxes are calculated and what factors might affect their specific tax obligations.
Average Watkins Tax Bill
$3,230
Average Arapahoe County Tax Bill
$2,536
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 | $1,997 | $2,609 | $3,230 | $3,496 | $4,428 |
Source: Ownwell