Milliken, Colorado Property Taxes
The median property tax rate in Milliken, CO is 0.63%, 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 Milliken at $430,688, the typical annual property tax bill reaches $2,724, slightly below the national median of $2,690. Property taxes in Milliken are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Milliken'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 Milliken 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
Milliken, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$2,713
$2,518
Ownwell’s Milliken Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Milliken with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Milliken 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 Milliken, Colorado
Property taxes in Milliken, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Milliken is 0.63%, lower than the U.S. national median of 0.99%. Local government entities within Milliken set these rates annually, and they can vary significantly across different neighborhoods. Each year, Milliken 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 Milliken's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80543 zip code has the highest median property tax rate of 0.63%, while the same zip code also has the lowest median tax rate of 0.63%. Understanding how these cities compare with Milliken 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 Milliken Tax Rate
0.63%
Average Weld County Tax Rate
0.49%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Milliken, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80543 | 0.50% | 0.62% | 0.63% | 0.81% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Milliken, Colorado
In Milliken, 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 Milliken, 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. The median home price in Milliken is $430,688, and being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 80543 has the highest and lowest median tax bill at $2,724.
Average Milliken Assessed Value
$430,688
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 Milliken, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80543 | $338,004 | $383,832 | $430,688 | $467,701 | $531,049 |
Source: Ownwell
Property Tax Bills Across Milliken, Colorado
In Milliken, located in Weld County, CO, property tax bills are calculated based on the assessed value of the property, which is a percentage of the market value. The median home price in Milliken is $430,688. Property tax rates in this area are influenced by various factors, including local government budgets and voter-approved measures. Homeowners in Milliken typically see tax bills ranging from $2,347 at the 25th percentile to $4,205 at the 90th percentile. The highest and lowest median tax bills in the region are both $2,724, reflecting a balanced tax environment. Compared to the national median property tax rate of 0.99%, Milliken's rates can result in higher or lower tax bills depending on the property's assessed value and specific local rates. These taxes fund essential public services such as schools, emergency services, and infrastructure, directly impacting the quality of life for residents. Homeowners must stay informed about their property’s assessed value and any changes in local tax rates to effectively manage their tax obligations.
Average Milliken Tax Bill
$2,724
Average Weld County Tax Bill
$2,133
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Milliken, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80543 | $1,772 | $2,347 | $2,724 | $3,684 | $4,205 |
Source: Ownwell