Firestone, Colorado Property Taxes
The median property tax rate in Firestone, CO is 0.55%, aligning with the Colorado state median but still notably lower than the national median of 0.99%. With a median home value of $549,328, the typical annual property tax bill in Firestone reaches $2,971, slightly above the national median of $2,690. Property taxes in Firestone are calculated based on the assessed value, which is generally lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Firestone'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 Firestone or another part of Weld County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Firestone, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$3,021
Ownwell’s Firestone Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Firestone with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Firestone 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 Firestone, Colorado
Property taxes in Firestone, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Firestone is 0.55%, which is lower than the U.S. national median of 0.99%. Local government entities within Firestone set these rates annually, and they can vary significantly across different neighborhoods. Each year, Firestone 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 Firestone's effective property tax rate to other areas in Weld County and the national median. For comparison, the 80520 zip code has the highest median property tax rate of 0.55%, while the 80504 zip code has the lowest median tax rate of 0.54%. Understanding how these areas compare with Firestone provides valuable insights into the varying tax landscape across Weld County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Firestone Tax Rate
0.55%
Average Weld County Tax Rate
0.49%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Firestone, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80504 | 0.45% | 0.53% | 0.54% | 0.65% | 0.85% |
| 80520 | 0.39% | 0.53% | 0.55% | 0.57% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Firestone, Colorado
In Firestone, 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 Weld 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 Firestone, 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 Firestone helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Firestone is $3,088 in the 80504 zip code, while the lowest median tax bill is $2,356 in the 80520 zip code.
Average Firestone Assessed Value
$549,328
Average Weld County Assessed Value
$452,949
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Firestone, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80504 | $318,942 | $508,280 | $562,199 | $618,482 | $693,248 |
| 80520 | $325,746 | $388,677 | $426,862 | $479,664 | $531,733 |
Source: Ownwell
Property Tax Bills Across Firestone, Colorado
In Firestone, located in Weld County, CO, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value, and this figure is then multiplied by the local property tax rate. For Firestone, the median home price stands at $549,328, which significantly influences the tax bill. Homeowners in Firestone can expect their property tax bills to vary widely. At the 25th percentile, tax bills are around $2,432, while at the 75th percentile, they reach approximately $3,605. For those in the 90th percentile, tax bills can go as high as $5,120. The highest median tax bill in the region is $3,088 in the 80504 zip code, whereas the lowest median tax bill is $2,356 in the 80520 zip code. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for Firestone residents. Understanding these factors helps homeowners anticipate their annual financial obligations and plan accordingly.
Average Firestone Tax Bill
$2,971
Average Weld County Tax Bill
$2,133
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Firestone, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80504 | $1,331 | $2,613 | $3,088 | $3,791 | $5,299 |
| 80520 | $1,498 | $2,045 | $2,356 | $2,615 | $2,961 |
Source: Ownwell