Longmont, Colorado Property Taxes
The median property tax rate in Longmont, CO is 0.50%, considerably lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Longmont at $564,900, the typical annual property tax bill reaches $2,767, which is slightly above the national median of $2,690. Property taxes in Longmont 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 Longmont'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 Longmont 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
Longmont, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.5%
Estimate Property Tax Bill
$2,825
Ownwell’s Longmont Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Longmont with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Longmont 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 Longmont, Colorado
Property taxes in Longmont, Colorado, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Longmont is 0.50%, which is notably lower than the U.S. national median of 0.99%. Local government entities within Longmont set these rates annually, and they can vary significantly across different neighborhoods. Each year, Longmont 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 Longmont's effective property tax rate to other areas in Boulder County and the national median. For comparison, the 80501 zip code has the highest median property tax rate of 0.50%, while the 80504 zip code has the lowest median tax rate of 0.50%. Understanding how these areas compare with Longmont provides valuable insights into the varying tax landscape across Boulder County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Longmont Tax Rate
0.50%
Average Boulder County Tax Rate
0.50%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Longmont, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80501 | 0.35% | 0.48% | 0.50% | 0.51% | 0.54% |
| 80503 | 0.40% | 0.46% | 0.50% | 0.51% | 0.54% |
| 80504 | 0.40% | 0.49% | 0.50% | 0.51% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across Longmont, Colorado
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Longmont, Colorado. 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 Boulder 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 Longmont, 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 Longmont is $564,900, with tax bills ranging from $2,184 at the 25th percentile to $5,012 at the 90th percentile. The highest median tax bill is $3,555 in the 80503 zip code, while the lowest median tax bill is $2,312 in the 80501 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 in Longmont helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Longmont Assessed Value
$564,900
Average Boulder County Assessed Value
$722,900
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Longmont, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80501 | $300,220 | $409,200 | $476,200 | $555,800 | $681,480 |
| 80503 | $500,500 | $580,100 | $727,200 | $955,500 | $1,416,680 |
| 80504 | $372,010 | $454,900 | $597,200 | $732,175 | $963,500 |
Source: Ownwell
Property Tax Bills Across Longmont, Colorado
In Longmont, located in Boulder County, CO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the property's market value, which in Longmont has a median home price of $564,900. The property tax rate is then applied to this assessed value to determine the tax bill. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions. In Longmont, the 25th percentile tax bill is $2,184, while the 75th percentile tax bill reaches $3,672. The 90th percentile tax bill can go as high as $5,012. The highest median tax bill in the area is $3,555 in the 80503 zip code, whereas the lowest median tax bill is $2,312 in the 80501 zip code. For homeowners, these tax bills can significantly impact monthly mortgage payments and overall affordability. Compared to the national median property tax rate of 0.99%, Longmont's rates reflect the area's unique market conditions and property values.
Average Longmont Tax Bill
$2,767
Average Boulder County Tax Bill
$3,545
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Longmont, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80501 | $1,365 | $1,911 | $2,312 | $2,761 | $3,411 |
| 80503 | $2,354 | $2,839 | $3,555 | $4,769 | $6,787 |
| 80504 | $1,825 | $2,219 | $2,896 | $3,667 | $4,873 |
Source: Ownwell