Gaithersburg, Colorado Property Taxes
The median property tax rate in Gaithersburg, CO is 0.45%, considerably lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Gaithersburg at $267,120, the typical annual property tax bill reaches $1,206, significantly below the national median of $2,690. Property taxes in Gaithersburg 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 Gaithersburg'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 Gaithersburg 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
Gaithersburg, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.45%
Estimate Property Tax Bill
$1,202
$1,115
Ownwell’s Gaithersburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gaithersburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gaithersburg 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 Gaithersburg, Colorado
Property taxes in Gaithersburg, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gaithersburg is 0.45%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Gaithersburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gaithersburg 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 Gaithersburg's effective property tax rate to other areas in Colorado and the national median. For comparison, the 20877 zip code has both the highest and lowest median property tax rate of 0.45%. Understanding how these cities compare with Gaithersburg provides valuable insights into the varying tax landscape across Grand County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gaithersburg Tax Rate
0.45%
Average Grand County Tax Rate
0.46%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gaithersburg, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20877 | 0.45% | 0.45% | 0.45% | 0.45% | 0.45% |
Source: Ownwell
Property Tax Assessment Values Across Gaithersburg, Colorado
In Gaithersburg, 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 Grand 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 Gaithersburg, 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 Gaithersburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the city are both $1206, found in zip code 20877.
Average Gaithersburg Assessed Value
$267,120
Average Grand County Assessed Value
$403,230
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gaithersburg, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20877 | $267,120 | $267,120 | $267,120 | $267,120 | $267,120 |
Source: Ownwell
Property Tax Bills Across Gaithersburg, Colorado
In Gaithersburg, located in Grand County, CO, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and is typically a percentage of the property's market value. For example, with a median home price of $267,120, the property tax rate is applied to this assessed value to determine the annual tax bill. In Gaithersburg, the median tax bill is consistently $1,206, regardless of the home's value within the provided percentiles. Several factors influence the property tax bill, including the property's location, size, and market conditions. Homeowners in Gaithersburg may find that their property tax rate is relatively moderate compared to the national median property tax rate of 0.99%. This consistency in tax bills can provide homeowners with a predictable annual expense, aiding in financial planning. However, it’s essential for homeowners to stay informed about any changes in assessed values or tax rates that could impact their future tax liabilities.
Average Gaithersburg Tax Bill
$1,206
Average Grand County Tax Bill
$1,913
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Gaithersburg, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20877 | $1,206 | $1,206 | $1,206 | $1,206 | $1,206 |
Source: Ownwell