Broomfield, Colorado Property Taxes
The median property tax rate in Broomfield, CO is 0.54%, which is below both the national median of 0.99% and the Colorado state median of 0.55%. With a median home value of $403,354, the typical annual property tax bill in Broomfield amounts to $2,103, which is lower than the national median of $2,690. Property taxes in Broomfield are calculated based on the assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. By understanding Broomfield's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you're in the heart of Broomfield or another part of the city, gaining insight into the local property tax system will be beneficial.
Last Updated June 14, 2024
Broomfield, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$2,178
Ownwell’s Broomfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Broomfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Broomfield 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 Broomfield, Colorado
Property taxes in Broomfield, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Broomfield is 0.54%, lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Broomfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Broomfield 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 Broomfield's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80020 zip code has the highest median property tax rate of 0.74%, while the 80021 zip code has the lowest median tax rate of 0.54%. Understanding how these cities compare with Broomfield provides valuable insights into the varying tax landscape across Broomfield County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Broomfield Tax Rate
0.54%
Average Jefferson County Tax Rate
0.66%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Broomfield, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80020 | 0.74% | 0.74% | 0.74% | 0.74% | 0.74% |
| 80021 | 0.42% | 0.54% | 0.54% | 0.54% | 0.54% |
Source: Ownwell
Property Tax Assessment Values Across Broomfield, Colorado
In Broomfield, 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 Jefferson 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 Broomfield, 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 Broomfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Broomfield, the highest median tax bill is $4,263 in the 80020 zip code, while the lowest median tax bill is $2,091 in the 80021 zip code.
Average Broomfield Assessed Value
$403,354
Average Jefferson County Assessed Value
$436,276
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Broomfield, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80020 | $438,994 | $464,170 | $576,828 | $636,226 | $680,963 |
| 80021 | $303,158 | $342,822 | $401,456 | $478,447 | $556,953 |
Source: Ownwell
Property Tax Bills Across Broomfield, Colorado
In Broomfield, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor. The assessed value is typically a percentage of the market value of your property. For instance, with a median home price of $403,354, the tax bill can vary significantly. Homeowners in the 25th percentile can expect to pay around $1,775, while those in the 75th percentile might see bills closer to $2,570. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. The highest median tax bill in Broomfield reaches $4,263 in the 80020 zip code, whereas the lowest median tax bill is $2,091 in the 80021 zip code. Compared to the national median property tax rate of 0.99%, Broomfield's rates can be higher or lower depending on these variables. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Broomfield Tax Bill
$2,103
Average Jefferson County Tax Bill
$2,797
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Broomfield, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80020 | $3,246 | $3,432 | $4,263 | $4,693 | $5,035 |
| 80021 | $1,468 | $1,770 | $2,091 | $2,541 | $3,054 |
Source: Ownwell