Fort Morgan, Colorado Property Taxes
The median property tax rate in Fort Morgan, CO is 0.78%, which is lower than both the national median of 0.99% and the Colorado state median of 0.55%. With a median home value of $56,105 in Fort Morgan, the typical annual property tax bill amounts to $574, significantly below the national median of $2,690. Property taxes in Fort Morgan are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Fort Morgan's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to considerable annual savings. Whether you're in the heart of Fort Morgan 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
Fort Morgan, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$438
Ownwell’s Fort Morgan Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fort Morgan with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fort Morgan 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 Fort Morgan, Colorado
Property taxes in Fort Morgan, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fort Morgan is 0.78%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Fort Morgan set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fort Morgan 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 Fort Morgan's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80701 zip code has the highest median property tax rate of 0.78%, while the same zip code also has the lowest median tax rate of 0.78%. Understanding how these cities compare with Fort Morgan provides valuable insights into the varying tax landscape across Adams County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fort Morgan Tax Rate
0.78%
Average Adams County Tax Rate
0.57%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fort Morgan, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80701 | 0.51% | 0.54% | 0.78% | 1.51% | 1.76% |
Source: Ownwell
Property Tax Assessment Values Across Fort Morgan, Colorado
In Fort Morgan, 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 Adams County Appraisal District 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 Fort Morgan, 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 Fort Morgan helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $574.00 in the 80701 zip code, reflecting the local property tax landscape.
Average Fort Morgan Assessed Value
$56,105
Average Adams County Assessed Value
$489,000
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fort Morgan, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80701 | $13,534 | $23,019 | $56,105 | $166,455 | $289,536 |
Source: Ownwell
Property Tax Bills Across Fort Morgan, Colorado
In Fort Morgan, Colorado, property tax bills are calculated based on the assessed value of a home, which is derived from a percentage of its market value. For instance, if a home has a market value of $56,105, the assessed value is determined by applying the state's assessment rate to this market value. The resulting assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the final tax bill, including the property's location within Adams County, any applicable exemptions, and the specific tax rate set by local taxing authorities. Homeowners in Fort Morgan can expect their annual property tax bills to vary significantly. For example, the 25th percentile tax bill is around $132, while the 75th percentile tax bill can reach up to $1,755. At the higher end, the 90th percentile tax bill can be as much as $4,510. These property taxes play a crucial role in funding local services such as schools, public safety, and infrastructure, directly impacting the quality of life for homeowners in Fort Morgan.
Average Fort Morgan Tax Bill
$574
Average Adams County Tax Bill
$2,770
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Fort Morgan, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80701 | $73 | $132 | $574 | $1,755 | $4,510 |
Source: Ownwell