Granby, Colorado Property Taxes
The median property tax rate in Granby, CO is 0.45%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With a median home value of $316,120 in Granby, the typical annual property tax bill is around $1,565, which is well below the national median of $2,690. Property taxes in Granby are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Granby's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Granby 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
Granby, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.45%
Estimate Property Tax Bill
$1,423
$1,320
Ownwell’s Granby Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Granby with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Granby 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 Granby, Colorado
Property taxes in Granby, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Granby is 0.45%, significantly lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Granby set these rates annually, and they can vary significantly across different neighborhoods. Each year, Granby 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 Granby's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80446 zip code has both the highest and lowest median property tax rate of 0.45%. Understanding how these cities compare with Granby 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 Granby 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 Granby, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80446 | 0.41% | 0.42% | 0.45% | 0.80% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Granby, Colorado
In Granby, 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 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 Granby, 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 Granby helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Granby, the median home price stands at $316,120. For those in the 25th percentile, the tax bill is around $740, while those in the 75th percentile face a tax bill of approximately $2,873. Interestingly, both the highest and lowest median tax bills are reported at $1,565 in the 80446 zip code.
Average Granby Assessed Value
$316,120
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 Granby, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80446 | $32,620 | $159,850 | $316,120 | $553,970 | $754,006 |
Source: Ownwell
Property Tax Bills Across Granby, Colorado
In Granby, CO, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is a percentage of the market value of the home. Granby falls within Grand County, where the property tax rate is applied to the assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's assessed value, the local tax rate, and any applicable exemptions or deductions. For instance, the median home price in Granby is $316,120. Homeowners in the 25th percentile can expect a tax bill around $740, while those in the 75th percentile might see a bill closer to $2,873. At the higher end, the 90th percentile tax bill can reach up to $4,744. Compared to the national median property tax rate of 0.99%, Granby's tax rate leads to varied tax bills depending on the property's assessed value. This can significantly impact homeowners, influencing their overall housing costs and financial planning.
Average Granby Tax Bill
$1,565
Average Grand County Tax Bill
$1,913
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Granby, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80446 | $181 | $740 | $1,565 | $2,873 | $4,744 |
Source: Ownwell