Georgetown, Colorado Property Taxes
The median property tax rate in Georgetown, CO is 0.54%, slightly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Georgetown at $345,370, the typical annual property tax bill comes to $1,773, which is below the national median of $2,690. Property taxes in Georgetown are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Georgetown'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 Georgetown 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
Georgetown, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$1,865
Ownwell’s Georgetown Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Georgetown. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Georgetown to provide an accurate estimate of your property tax bill. This valuable resource helps you understand your potential tax liabilities with ease. For those interested in more detailed trends at the neighborhood level, additional localized information is available as you scroll down. Your property's assessed value, which is determined by the county for tax calculations, includes any applicable exemptions, making this tool both comprehensive and user-friendly.
Property Tax Rates Across Georgetown, Colorado
Property taxes in Georgetown, Colorado, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Georgetown is 0.54%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Georgetown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Georgetown 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 Georgetown's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80444 zip code has both the highest and lowest median property tax rate of 0.54%. Understanding how these cities compare with Georgetown provides valuable insights into the varying tax landscape across Clear Creek County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Georgetown Tax Rate
0.54%
Average Clear Creek County Tax Rate
0.54%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Georgetown, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80444 | 0.43% | 0.54% | 0.54% | 0.54% | 0.54% |
Source: Ownwell
Property Tax Assessment Values Across Georgetown, Colorado
In Georgetown, 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 Clear Creek 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 Georgetown, 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. Georgetown's property owners should note that the highest median tax bill in the area is $1,773 in the 80444 zip code, while the lowest median tax bill is also $1,773 in the same 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 Georgetown Assessed Value
$345,370
Average Clear Creek County Assessed Value
$360,990
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Georgetown, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80444 | $174,040 | $224,400 | $345,370 | $409,815 | $477,757 |
Source: Ownwell
Property Tax Bills Across Georgetown, Colorado
In Georgetown, located in Clear Creek County, CO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Georgetown stands at $345,370. Property taxes are determined by multiplying the assessed value by the local tax rate. Factors such as property improvements and market conditions can influence the assessed value, impacting the final tax bill. The tax bill for homeowners in Georgetown varies widely, with the 25th percentile at $1,217 and the 75th percentile at $2,134. For those in the 90th percentile, the tax bill can reach up to $2,529. This range indicates that while some homeowners may face relatively modest tax bills, others could see significantly higher amounts. Compared to the national median property tax rate of 0.99%, the local rates can have a substantial effect on household budgets, making it crucial for homeowners to understand how these taxes are calculated and what factors might influence their annual payments.
Average Georgetown Tax Bill
$1,773
Average Clear Creek County Tax Bill
$1,938
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Georgetown, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80444 | $929 | $1,217 | $1,773 | $2,134 | $2,529 |
Source: Ownwell