Glenwood Springs, Colorado Property Taxes
The median property tax rate in Glenwood Springs, CO 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 $470,455 in Glenwood Springs, the typical annual property tax bill amounts to $2,539, which is below the national median of $2,690. Property taxes here are based on the assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Navigating Glenwood Springs' property tax system, understanding available exemptions, and identifying reduction opportunities can lead to substantial annual savings. Whether you're in the heart of Glenwood Springs or another part of Garfield County, a thorough grasp of the local property tax system benefits both homeowners and real estate investors.
Last Updated June 14, 2024
Glenwood Springs, 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 Glenwood Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Glenwood Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Glenwood Springs 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 Glenwood Springs, Colorado
Property taxes in Glenwood Springs, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Glenwood Springs is 0.55%, which is lower than the U.S. national median of 0.99%. Local government entities within Glenwood Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Glenwood Springs 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 Glenwood Springs' effective property tax rate to other counties in Colorado and the national median. For comparison, the zip code 81601 has both the highest and lowest median property tax rate of 0.55%. Understanding how these cities compare with Glenwood Springs provides valuable insights into the varying tax landscape across Garfield County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Glenwood Springs Tax Rate
0.55%
Average Garfield County Tax Rate
0.50%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Glenwood Springs, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81601 | 0.46% | 0.55% | 0.55% | 0.56% | 0.56% |
| 81647 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Glenwood Springs, Colorado
In Glenwood Springs, 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 Garfield 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 Glenwood Springs, 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 Glenwood Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Glenwood Springs are both $2,540, found in zip code 81601.
Property Tax Assessment Values Across Glenwood Springs, Colorado
Source: Ownwell
$9,340
$339,633
$669,925
Average Glenwood Springs Assessed Value
$470,455
Average Garfield County Assessed Value
$363,015
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Glenwood Springs, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81601 | $128,154 | $326,010 | $471,640 | $622,400 | $811,476 |
| 81647 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Glenwood Springs, Colorado
In Glenwood Springs, property tax bills are calculated based on the assessed value of a property, which is determined by the Garfield County Assessor. The assessed value is typically a percentage of the property's market value. Homeowners in Glenwood Springs can expect their tax bills to vary significantly depending on their property's assessed value and the local tax rate. For instance, the median home price in Glenwood Springs is $470,455. The property tax rate in this area contributes to a range of tax bills, with the 25th percentile tax bill at $1,773 and the 75th percentile tax bill at $3,414. At the higher end, the 90th percentile tax bill reaches $4,563. These figures illustrate how property taxes can impact homeowners differently, depending on the value of their properties. Compared to the national median property tax rate of 0.99%, Glenwood Springs homeowners may find their tax obligations to be relatively moderate, yet still significant. Understanding these factors helps homeowners manage their financial planning and anticipate annual property tax expenses.
Average Glenwood Springs Tax Bill
$2,539
Average Garfield County Tax Bill
$1,819
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Glenwood Springs, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81601 | $858 | $1,778 | $2,540 | $3,415 | $4,562 |
| 81647 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell