Longmont, Colorado Property Taxes
The median property tax rate in Longmont, CO is 0.52%, which is notably lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Longmont at $550,136, the typical annual property tax bill amounts to $2,946, surpassing the national median of $2,690. Property taxes in Longmont 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 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
0.52%
Estimate Property Tax Bill
$2,861
$2,655
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, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Longmont is 0.52%, 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 80504 ZIP code has the highest median property tax rate of 0.52%, while the same ZIP code also has the lowest median tax rate of 0.52%. Understanding how these areas compare with Longmont 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 Longmont Tax Rate
0.52%
Average Weld County Tax Rate
0.49%
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 | N/A | N/A | N/A | N/A | N/A |
| 80504 | 0.40% | 0.47% | 0.52% | 0.62% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Longmont, Colorado
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Longmont, 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 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 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 highest median tax bill in Longmont is $2,946 in the 80504 zip code, while the lowest median tax bill is also $2,946 in the same zip code. 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
$550,136
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 Longmont, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80503 | N/A | N/A | N/A | N/A | N/A |
| 80504 | $96,700 | $443,893 | $550,185 | $672,808 | $849,496 |
Source: Ownwell
Property Tax Bills Across Longmont, Colorado
In Longmont, property tax bills are calculated based on a property's assessed value, which is determined by the Weld County Assessor. The assessed value is a percentage of the market value, reflecting what the property would likely sell for in the current market. Homeowners in Longmont can expect their tax bills to vary significantly depending on their property's value and location within the city. For instance, the median home price in Longmont is $550,136. Property tax bills range widely, with the 25th percentile at $2,031 and the 75th percentile at $4,233. The highest median tax bill in the city is $2,946, specifically in the 80504 zip code, which also has the lowest median tax bill. This variation underscores how local factors and property values influence tax bills. Compared to the national median property tax rate of 0.99%, Longmont's property tax rates can be impactful, potentially affecting decisions on homeownership and budgeting for local residents.
Average Longmont Tax Bill
$2,946
Average Weld County Tax Bill
$2,133
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 | N/A | N/A | N/A | N/A | N/A |
| 80504 | $560 | $2,031 | $2,946 | $4,233 | $5,396 |
Source: Ownwell