Denver, Colorado Property Taxes
The median property tax rate in Denver, CO is 0.61%, lower than the national median of 0.99% but higher than the Colorado state median of 0.55%. With the median home value in Denver, the typical annual property tax bill reaches $510, considerably below the national median of $2,690. Property taxes in Denver 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 Denver'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 Denver 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
Denver, 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 Denver Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Denver with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Denver 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 Denver, Colorado
Property taxes in Denver, Colorado, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Denver is 0.61%, which is lower than the U.S. national median of 0.99%. Local government entities within Denver set these rates annually, and they can vary significantly across different neighborhoods. Each year, Denver 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. Understanding how these rates are determined can help homeowners anticipate their property tax obligations. For comparison, the zip code 80234 has both the highest and lowest median property tax rate of 0.61%. Understanding how these areas compare with Denver 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 Denver Tax Rate
0.61%
Average Broomfield County Tax Rate
0.55%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Denver, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80234 | 0.60% | 0.61% | 0.61% | 0.63% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Denver, Colorado
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Denver, Colorado. The market value represents 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 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 Denver, 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 Denver helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Denver is found in the 80234 zip code, with a value of $510. Conversely, the lowest median tax bill is also in the 80234 zip code, highlighting the variability within the same area.
Average Denver Assessed Value
$30,410
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 Denver, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80234 | $9,770 | $13,285 | $30,410 | $59,358 | $78,300 |
Source: Ownwell
Property Tax Bills Across Denver, Colorado
In Denver, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Homeowners in Denver can expect their property tax bills to be influenced by various factors, including the size of the property, its location, and any improvements made. The median home price in Denver is $30,410, with tax bills ranging from $445 at the 25th percentile to $712 at the 90th percentile. The highest and lowest median tax bills are both $510, found in the 80234 zip code. Compared to the national median property tax rate of 0.99%, Denver homeowners might find their tax rates to be relatively moderate. These property taxes are crucial as they fund local services such as schools, public safety, and infrastructure. Understanding how these taxes are calculated can help homeowners better anticipate their annual expenses and manage their budgets effectively.
Average Denver Tax Bill
$510
Average Broomfield County Tax Bill
$3,517
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Denver, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80234 | $384 | $445 | $510 | $665 | $712 |
Source: Ownwell