Longmont, Colorado Property Taxes
The median property tax rate in Longmont, CO is 0.60%, slightly higher than the Colorado state median of 0.55% but still below the national median of 0.99%. With the median home value in Longmont at $572,200, the typical annual property tax bill reaches $3,464, significantly surpassing the national median of $2,690. Property taxes in Longmont 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 Longmont'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 Longmont 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
Longmont, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$3,433
Ownwell’s Longmont Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Longmont with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Longmont 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 Longmont, Colorado
Property taxes in Longmont, Colorado, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Longmont is 0.60%, which is lower than the U.S. national median of 0.99%. Local government entities within Longmont set these rates annually, and they can vary significantly across different neighborhoods. Each year, Longmont 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 Longmont's effective property tax rate to other areas in Colorado and the national median. For comparison, the 80503 zip code has the highest median property tax rate of 0.71%, while the 80504 zip code has the lowest median tax rate of 0.60%. Understanding how these areas compare with Longmont provides valuable insights into the varying tax landscape across Boulder County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Longmont Tax Rate
0.60%
Average Larimer County Tax Rate
0.66%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Longmont, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80503 | 0.61% | 0.69% | 0.71% | 0.71% | 0.71% |
| 80504 | 0.48% | 0.51% | 0.60% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Longmont, Colorado
In Longmont, 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 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 Longmont, 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. For instance, the median home price in Longmont is $572,200, with the 25th percentile tax bill at $2,945 and the 75th percentile tax bill at $3,921. The highest median tax bill is $4,851 in zip code 80503, while the lowest is $3,265 in zip code 80504. 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 Longmont helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Longmont Assessed Value
$572,200
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 Longmont, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80503 | $506,320 | $573,700 | $681,000 | $887,900 | $927,460 |
| 80504 | $479,320 | $512,700 | $563,800 | $619,000 | $714,320 |
Source: Ownwell
Property Tax Bills Across Longmont, Colorado
In Longmont, 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 the area is $572,200. To determine the tax bill, the county first assesses the property's market value. Then, a tax rate is applied to this assessed value to calculate the annual tax bill. Factors such as the home's location within different zip codes can result in varying tax bills. For instance, the highest median tax bill in Longmont is $4,851 in the 80503 zip code, while the lowest is $3,265 in the 80504 zip code. These tax bills can significantly impact homeowners. The tax bill at the 25th percentile is $2,945, while at the 75th percentile, it rises to $3,921, and at the 90th percentile, it reaches $6,138. These figures show the range of tax responsibilities homeowners may face, which can affect their overall financial planning and housing affordability. Compared to the national median property tax rate of 0.99%, Longmont's rates reflect the region's specific property values and local tax policies.
Average Longmont Tax Bill
$3,464
Average Larimer County Tax Bill
$2,461
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Longmont, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80503 | $3,422 | $3,638 | $4,851 | $6,146 | $6,594 |
| 80504 | $2,453 | $2,838 | $3,265 | $3,768 | $4,154 |
Source: Ownwell