Jelm, Colorado Property Taxes
The median property tax rate in Jelm, CO is 0.58%, slightly above the Colorado state median of 0.55% but below the national median of 0.99%. With the median home value in Jelm at $180,350, the typical annual property tax bill amounts to $1,050, which is significantly lower than the national median of $2,690. Property taxes in Jelm are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Jelm'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 Jelm or another part of Larimer County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Jelm, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$1,046
$971
Ownwell’s JELM Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in JELM with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in JELM 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 Jelm, Colorado
Property taxes in Jelm, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jelm is 0.58%, significantly lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Jelm set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jelm 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 Jelm's effective property tax rate to other counties in Colorado and the national median. For comparison, the 82063 zip code has both the highest and lowest median property tax rate of 0.58%. Understanding how these cities compare with Jelm provides valuable insights into the varying tax landscape across Larimer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jelm Tax Rate
0.58%
Average Larimer County Tax Rate
0.66%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jelm, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82063 | 0.58% | 0.58% | 0.58% | 0.58% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Jelm, Colorado
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in JELM, Colorado. 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 Larimer 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 JELM, 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 JELM helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Larimer County, the highest and lowest median tax bills are both $1050, found in the 82063 zip code.
Average Jelm Assessed Value
$180,350
Average Larimer County Assessed Value
$394,000
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jelm, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82063 | $74,850 | $108,500 | $180,350 | $243,000 | $369,300 |
Source: Ownwell
Property Tax Bills Across Jelm, Colorado
In JELM, property tax bills are calculated based on the assessed value of a home, which is determined by the Larimer County assessor. The assessed value is a percentage of the market value of the property. Homeowners in JELM typically see a median property tax bill of $1,050. This amount can vary significantly, with the 25th percentile tax bill around $630 and the 75th percentile reaching up to $1,418. For those in the 90th percentile, the tax bill can be as high as $2,143. Several factors influence the final tax bill, including the property's location, improvements made, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, the property tax rates in JELM are relatively moderate. Understanding these factors can help homeowners anticipate their tax obligations and plan accordingly, ensuring they are not caught off guard by their annual property tax bills.
Average Jelm Tax Bill
$1,050
Average Larimer County Tax Bill
$2,461
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Jelm, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82063 | $435 | $630 | $1,050 | $1,418 | $2,143 |
Source: Ownwell