Broomfield County, Colorado Property Taxes
The median property tax rate in Broomfield is 0.55%, aligning with the Colorado state median but significantly lower than the national median of 0.99%. With a median home value of $637,620, the typical annual property tax bill in Broomfield reaches $3,517, which is above the national median of $2,690. Property taxes here are calculated based on the assessed value, which often falls below the actual market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Broomfield's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Broomfield or another part of the county, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Broomfield County, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$3,507
$3,254
Ownwell’s Broomfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Broomfield with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Broomfield to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Broomfield County, Colorado
Property taxes in Broomfield play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Broomfield is 0.55%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Broomfield set these rates annually, and they can vary significantly between different areas within the county. Each year, Broomfield estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Broomfield's effective property tax rate with other areas in Colorado and the national median. For comparison, the city of Westminster has one of the higher property tax rates in Colorado at 0.78%, while the city of Erie boasts one of the lowest at 0.44%. Analyzing how Broomfield's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Broomfield County Tax Rate
0.55%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Broomfield County, Colorado
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Broomfield | 0.41% | 0.47% | 0.55% | 0.66% | 0.73% |
| Denver | 0.60% | 0.61% | 0.61% | 0.63% | 0.64% |
| Erie | 0.27% | 0.38% | 0.44% | 0.55% | 0.81% |
| Westminster | 0.59% | 0.73% | 0.78% | 0.89% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Broomfield County, Colorado
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Broomfield County, Colorado. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Broomfield County Appraisal District. The assessed value, however, 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. Assessment notices in Broomfield County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Notably, Westminster boasts the highest median tax bill at $7,877, while Denver has the lowest at $510. Being aware of these valuation processes in Broomfield County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Broomfield County, Colorado
Source: Ownwell
$30,410
$518,943
$1,007,475
Average Broomfield County Assessed Value
$637,620
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Broomfield County, Colorado
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Broomfield | $455,690 | $535,518 | $644,955 | $848,545 | $1,061,657 |
| Denver | $9,770 | $13,285 | $30,410 | $59,358 | $78,300 |
| Erie | $126,955 | $282,080 | $360,690 | $603,875 | $832,070 |
| Westminster | $662,005 | $721,722 | $1,007,475 | $1,546,050 | $1,993,063 |
Source: Ownwell
Property Tax Bills Across Broomfield County, Colorado
In Broomfield County, CO, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The assessed value is typically a percentage of the market value, and this figure is then multiplied by the local tax rate to determine the tax bill. Various factors such as property size, location, and improvements can influence the assessed value. Homeowners in Broomfield County experience a range of property tax bills. For instance, the 25th percentile tax bill is $2,685, while the 75th percentile tax bill reaches $5,396. At the higher end, the 90th percentile tax bill is $6,840. Comparatively, the national median property tax rate is 0.99%, making Broomfield County's tax bills relatively significant. The impact on homeowners can be substantial, with some paying as low as $510 in Denver and others facing bills as high as $7,877 in Westminster. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Broomfield County Tax Bill
$3,517
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Broomfield County, Colorado
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Broomfield | $2,170 | $2,699 | $3,524 | $5,391 | $6,823 |
| Denver | $384 | $445 | $510 | $665 | $712 |
| Erie | $590 | $1,135 | $1,955 | $3,323 | $3,815 |
| Westminster | $5,923 | $6,409 | $7,877 | $10,909 | $12,364 |
Source: Ownwell