Wellington, Colorado Property Taxes
The median property tax rate in Wellington, CO is 0.76%, which is lower than the national median of 0.99% but higher than the Colorado state median of 0.55%. With the median home value in Wellington at $342,300, the typical annual property tax bill reaches $2,598, slightly below the national median of $2,690. Property taxes in Wellington are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Wellington'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 Wellington 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
Wellington, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$2,601
$2,414
Ownwell’s Wellington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wellington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wellington 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 Wellington, Colorado
Property taxes in Wellington, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wellington is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Wellington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wellington 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 Wellington's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80549 zip code has the highest median property tax rate of 0.76%, while the same zip code also has the lowest median tax rate of 0.76%. Understanding how these cities compare with Wellington 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 Wellington Tax Rate
0.76%
Average Larimer County Tax Rate
0.66%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wellington, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80549 | 0.69% | 0.76% | 0.76% | 0.76% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Wellington, Colorado
In Wellington, 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 Wellington, 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 Wellington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Wellington are both $2,598 in the 80549 zip code, providing a clear picture of the local property tax landscape.
Average Wellington Assessed Value
$342,300
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 Wellington, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80549 | $258,610 | $308,900 | $342,300 | $380,500 | $433,780 |
Source: Ownwell
Property Tax Bills Across Wellington, Colorado
In Wellington, CO, property tax bills are calculated based on the assessed value of a home, which is determined by the Larimer County Assessor's Office. The assessed value is a percentage of the property's market value, and the tax rate is applied to this assessed value to calculate the tax bill. For homeowners in Wellington, the median home price is $342,300, and tax bills can vary significantly. For instance, the 25th percentile tax bill is $2,289, while the 75th percentile reaches $2,870, and the 90th percentile is $3,201. These figures indicate that homeowners in Wellington face property tax bills that can have a substantial impact on their finances. The tax rate in Wellington can be compared to the national median property tax rate of 0.99%, highlighting the importance of understanding local tax obligations. Factors such as property improvements, neighborhood changes, and broader economic conditions can influence assessed values, thus affecting the overall tax bill for homeowners.
Average Wellington Tax Bill
$2,598
Average Larimer County Tax Bill
$2,461
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Wellington, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80549 | $1,843 | $2,289 | $2,598 | $2,870 | $3,201 |
Source: Ownwell