Wheat Ridge, Colorado Property Taxes
The median property tax rate in Wheat Ridge, CO is 0.55%, notably lower than the national median of 0.99% and equal to Colorado's state median of 0.55%. With the median home value in Wheat Ridge at $416,600, the typical annual property tax bill amounts to $2,302, which is below the national median of $2,690. Property taxes in Wheat Ridge 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 Wheat Ridge'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 Wheat Ridge 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
Wheat Ridge, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$2,291
Ownwell’s Wheat Ridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wheat Ridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wheat Ridge 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 Wheat Ridge, Colorado
Property taxes in Wheat Ridge, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wheat Ridge is 0.55%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Wheat Ridge set these rates annually, and they can vary across different neighborhoods. Each year, Wheat Ridge 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 Wheat Ridge's effective property tax rate to other areas in Colorado and the national median. For comparison, the zip code 80033 has the same median property tax rate of 0.55%. Understanding how these cities compare with Wheat Ridge provides valuable insights into the varying tax landscape across Denver County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wheat Ridge Tax Rate
0.55%
Average Denver County Tax Rate
0.55%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wheat Ridge, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80033 | 0.55% | 0.55% | 0.55% | 0.55% | 0.55% |
Source: Ownwell
Property Tax Assessment Values Across Wheat Ridge, Colorado
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Wheat Ridge, 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 Denver 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. 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. For instance, the median home price in Wheat Ridge is $416,600, with tax bills ranging from $2,267 at the 25th percentile to $2,693 at the 90th percentile. Notably, the highest and lowest median tax bills both stand at $2,302 within the 80033 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Wheat Ridge Assessed Value
$416,600
Average Denver County Assessed Value
$435,200
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wheat Ridge, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80033 | $401,300 | $410,300 | $416,600 | $442,700 | $487,340 |
Source: Ownwell
Property Tax Bills Across Wheat Ridge, Colorado
In Wheat Ridge, located in Denver County, CO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, if the median home price is $416,600, the assessed value is determined by applying the state's assessment rate to this market value. The resulting assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. Homeowners in Wheat Ridge typically face property tax bills ranging from $2,267 at the 25th percentile to $2,693 at the 90th percentile. The median tax bill in the area is $2,302, which is higher than the national median property tax rate of 0.99%. Factors such as market value fluctuations, local tax rates, and applicable exemptions can influence the final tax amount. These property taxes fund essential public services, including schools, infrastructure, and emergency services, directly impacting the community's quality of life.
Average Wheat Ridge Tax Bill
$2,302
Average Denver County Tax Bill
$2,449
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Wheat Ridge, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80033 | $2,218 | $2,267 | $2,302 | $2,446 | $2,693 |
Source: Ownwell