Timnath, Colorado Property Taxes
The median property tax rate in Timnath, CO is 1.08%, considerably higher than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Timnath at $497,900, the typical annual property tax bill reaches $5,229, exceeding the national median of $2,690. Property taxes in Timnath 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 Timnath'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 Timnath 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
Timnath, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$5,377
Ownwell’s Timnath Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Timnath with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Timnath 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 Larimer County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Timnath, Colorado
Property taxes in Timnath, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Timnath is 1.08%, higher than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Timnath set these rates annually, and they can vary significantly across different neighborhoods. Each year, Timnath 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 Timnath's effective property tax rate to other areas in Colorado and the national median. For comparison, the 80547 zip code has the highest median property tax rate of 1.08%, while the 80525 zip code has the lowest median tax rate of 0.73%. Understanding how these cities compare with Timnath 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 Timnath Tax Rate
1.08%
Average Larimer County Tax Rate
0.66%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Timnath, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80525 | 0.69% | 0.70% | 0.73% | 0.73% | 0.73% |
| 80547 | 0.73% | 0.99% | 1.08% | 1.09% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Timnath, Colorado
In Timnath, 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 Timnath, 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 Timnath helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Larimer County is $5,230 in the 80547 zip code, while the lowest is $3,475 in the 80525 zip code.
Average Timnath Assessed Value
$497,900
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 Timnath, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80525 | $450,620 | $459,800 | $475,100 | $525,200 | $555,260 |
| 80547 | $330,650 | $429,200 | $498,000 | $628,575 | $1,011,500 |
Source: Ownwell
Property Tax Bills Across Timnath, Colorado
Property tax bills in Timnath, located in Larimer County, Colorado, 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 property's market value. For instance, with a median home price of $497,900 in Timnath, the tax bill can vary significantly. Factors influencing the tax bill include the property's location within specific zip codes, as tax rates can differ. For example, properties in the 80547 zip code have the highest median tax bill at $5,230, while those in the 80525 zip code have the lowest at $3,475. Homeowners in Timnath can expect their tax bills to fall within a range, with the 25th percentile at $4,368 and the 75th percentile at $6,535. For those at the 90th percentile, the tax bill can reach up to $8,516. These taxes fund essential local services, such as schools, infrastructure, and emergency services, impacting the overall quality of life for residents.
Average Timnath Tax Bill
$5,229
Average Larimer County Tax Bill
$2,461
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Timnath, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80525 | $3,296 | $3,363 | $3,475 | $3,676 | $3,796 |
| 80547 | $3,314 | $4,371 | $5,230 | $6,537 | $8,518 |
Source: Ownwell