Westminster, Colorado Property Taxes
The median property tax rate in Westminster, CO is 0.54%, which is notably lower than both the national median of 0.99% and the Colorado state median of 0.55%. With a median home value of $395,212 in Westminster, the typical annual property tax bill is $2,076, falling below the national median of $2,690. Property taxes in Westminster are calculated based on the tax assessed value, which generally is lower than the market value due to exemptions like the primary residence exemption. Understanding Westminster'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 Westminster or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Westminster, 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 Westminster Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Westminster effortlessly. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Westminster to provide an accurate property tax bill estimate. This valuable tool helps you anticipate potential tax obligations, making financial planning easier. For those interested in more detailed trends at the neighborhood level, additional localized information is available. Your property’s assessed value, determined by the county, serves as the basis for property tax calculations and accounts for any applicable exemptions.
Property Tax Rates Across Westminster, Colorado
Property taxes in Westminster, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Westminster is 0.54%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Westminster set these rates annually, and they can vary significantly across different neighborhoods. Each year, Westminster 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 Westminster's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80031 zip code has the highest median property tax rate of 0.54%, while the 80030 zip code has the lowest median tax rate of 0.54%. Understanding how these cities compare with Westminster provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Westminster 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 Westminster, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80003 | N/A | N/A | N/A | N/A | N/A |
| 80020 | 0.41% | 0.54% | 0.54% | 0.54% | 0.54% |
| 80021 | 0.38% | 0.54% | 0.54% | 0.54% | 2.26% |
| 80030 | 0.54% | 0.54% | 0.54% | 0.54% | 0.54% |
| 80031 | 0.47% | 0.54% | 0.54% | 0.54% | 0.57% |
Source: Ownwell
Property Tax Assessment Values Across Westminster, Colorado
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Westminster, CO. 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 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 Westminster, 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. The median home price in Westminster is $395,212, with tax bills ranging from $1,644 in the 80021 zip code to $2,469 in the 80030 zip code. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Westminster Assessed Value
$395,212
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 Westminster, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80003 | N/A | N/A | N/A | N/A | N/A |
| 80020 | $341,275 | $376,443 | $412,727 | $449,684 | $485,782 |
| 80021 | $104,871 | $263,434 | $306,300 | $338,342 | $400,145 |
| 80030 | $456,946 | $456,946 | $456,946 | $456,946 | $456,946 |
| 80031 | $242,280 | $275,482 | $348,218 | $375,213 | $473,387 |
Source: Ownwell
Property Tax Bills Across Westminster, Colorado
In Westminster, CO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Westminster is $395,212. The tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property location, home improvements, and local tax levies influence the assessed value. Homeowners in Westminster can expect varying tax bills. For example, the 25th percentile tax bill is around $1,804, while the 75th percentile tax bill is approximately $2,355. The 90th percentile tax bill reaches up to $2,624. The highest median tax bill in the area is $2,469, found in the 80030 zip code, whereas the lowest median tax bill is $1,644 in the 80021 zip code. These variations can significantly impact homeowners' finances, especially when compared to the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate and manage their property tax obligations effectively.
Average Westminster Tax Bill
$2,076
Average Jefferson County Tax Bill
$2,797
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Westminster, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80003 | N/A | N/A | N/A | N/A | N/A |
| 80020 | $1,705 | $1,902 | $2,165 | $2,395 | $2,610 |
| 80021 | $1,181 | $1,421 | $1,644 | $1,830 | $2,318 |
| 80030 | $2,469 | $2,469 | $2,469 | $2,469 | $2,469 |
| 80031 | $1,316 | $1,402 | $1,866 | $2,043 | $2,772 |
Source: Ownwell