Broomfield, Colorado Property Taxes
The median property tax rate in Broomfield, CO is 0.55%, aligning with the state median but significantly lower than the national median of 0.99%. With a median home value of $644,955, the typical annual property tax bill in Broomfield reaches $3,524, surpassing the national median of $2,690. Property taxes in Broomfield are calculated based on the assessed value, which often falls below market value due to exemptions like the primary residence and agricultural exemptions. Understanding Broomfield'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 Broomfield 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
Broomfield, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$3,547
$3,292
Ownwell’s Broomfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Broomfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Broomfield 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 Broomfield, Colorado
Property taxes in Broomfield, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Broomfield is 0.55%, which is lower than the U.S. national median of 0.99%. Local government entities within Broomfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Broomfield 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 Broomfield's effective property tax rate to other areas in Colorado and the national median. For comparison, the 80023 zip code has the highest median property tax rate of 0.66%, while the 80020 zip code has the lowest median tax rate of 0.48%. Understanding how these areas compare with Broomfield provides valuable insights into the varying tax landscape across Broomfield County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Broomfield Tax Rate
0.55%
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, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80020 | 0.38% | 0.45% | 0.48% | 0.54% | 0.58% |
| 80021 | 0.58% | 0.62% | 0.63% | 0.87% | 0.88% |
| 80023 | 0.54% | 0.61% | 0.66% | 0.72% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Broomfield, Colorado
In Broomfield, 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 Broomfield 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 Broomfield, 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. For instance, the highest median tax bill in Broomfield is $5,675 in the 80023 zip code, while the lowest is $2,916 in the 80020 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Broomfield Assessed Value
$644,955
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, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80020 | $417,829 | $506,138 | $586,550 | $688,582 | $833,359 |
| 80021 | $529,330 | $605,490 | $686,185 | $815,165 | $911,805 |
| 80023 | $515,584 | $643,710 | $849,670 | $1,029,730 | $1,273,030 |
Source: Ownwell
Property Tax Bills Across Broomfield, Colorado
Property tax bills in Broomfield, CO, are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including the property's location, size, and condition, as well as the specific tax rates set by local government entities. Homeowners in Broomfield can expect varying tax bills depending on their property's value and location. For example, the median home price in Broomfield is $644,955. The tax bill for the 25th percentile is $2,699, while the 75th percentile sees a tax bill of $5,391, and the 90th percentile reaches $6,823. The highest median tax bill in the area is $5,675 for properties in the 80023 zip code, whereas the lowest is $2,916 in the 80020 zip code. These property taxes impact homeowners by influencing their overall housing costs and potentially affecting property values.
Average Broomfield Tax Bill
$3,524
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, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80020 | $1,978 | $2,426 | $2,916 | $3,528 | $4,244 |
| 80021 | $3,288 | $4,262 | $4,788 | $5,453 | $5,926 |
| 80023 | $3,150 | $4,341 | $5,675 | $6,823 | $8,203 |
Source: Ownwell