How do I calculate yearly property tax?

If you are trying to determine the property tax for your home, or for a home you are interested in purchasing, simply visit the website for the county where the home is located. You can then enter the address, and it will show you the property taxes, as well as other information for the property. You may also be able to contact the county by telephone to learn the property taxes.

 

Here are links to the Denver metro counties web pages. I have written detailed instructions for some of the counties. To view the detailed instructions, simply click the detailed instructions link.

 

Adams County              Detailed instructions for Adams County
Arapahoe County         Detailed instructions for Arapahoe County
Broomfield County
Boulder County
Clear Creek County
Denver County             Detailed instructions for Denver County
Douglas County            Detailed instructions for Douglas County
Elbert County
Gilpin County
Jefferson County         Detailed instructions for Jefferson County
Park County

 

Here is an example property tax calculation. Assume that the property taxes are 1,638.36.

 

calculating property taxes c

Take this number and divide it by 12. This is the monthly amount of the property tax.

calculating property taxes d

In many situations, a lender will collect the monthly property tax as part of your payment. This property tax is kept in an escrow account at the lender, and then when the property taxes become due, the tax is paid by the lender from the escrow account. The lender collects the property taxes to ensure that they are paid, because if they are not paid, the lender has a huge risk because property taxes prevail over any liens. Once the owner has about 20% equity, they can ask the lender to stop collecting the escrow, and the owner can pay the taxes directly if they so wish.

calculating property taxes e

 

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