Fort Garland, Colorado Property Taxes
The median property tax rate in Fort Garland, CO is 0.60%, slightly higher than the state median of 0.55% but lower than the national median of 0.99%. With the median home value in Fort Garland at $113,183, the typical annual property tax bill amounts to $620, which is well below the national median of $2,690. Property taxes in Fort Garland are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Fort Garland'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 Fort Garland or elsewhere in Costilla County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fort Garland, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$679
Ownwell’s Fort Garland Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Fort Garland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fort Garland 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 Garland, Colorado
Property taxes in Fort Garland, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fort Garland is 0.60%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Fort Garland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fort Garland 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 Garland's effective property tax rate to other counties in Colorado and the national median. For comparison, the zip code 81133 has the highest median property tax rate of 0.60%, while the same zip code also has the lowest median tax rate of 0.60%. Understanding how these cities compare with Fort Garland provides valuable insights into the varying tax landscape across Costilla County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fort Garland Tax Rate
0.60%
Average Costilla County Tax Rate
0.60%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fort Garland, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81133 | 0.38% | 0.60% | 0.60% | 0.62% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Fort Garland, Colorado
In Fort Garland, 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 Costilla 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 Fort Garland, 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 Garland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Fort Garland's median home price is $113,183, with property tax bills ranging from $336 at the 25th percentile to $1,500 at the 90th percentile. The highest and lowest median tax bills are both $620 in zip code 81133.
Average Fort Garland Assessed Value
$113,183
Average Costilla County Assessed Value
$81,990
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fort Garland, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81133 | $16,493 | $67,265 | $113,183 | $179,751 | $251,680 |
Source: Ownwell
Property Tax Bills Across Fort Garland, Colorado
In Fort Garland, Costilla County, CO, property tax bills are calculated based on the assessed value of a property, which is a percentage of the market value determined by the county assessor. The median home price in Fort Garland is $113,183. Property tax rates are applied to this assessed value to determine the annual tax bill. Factors such as property location, improvements, and exemptions can influence the assessed value and, consequently, the tax bill. Homeowners in Fort Garland can expect varying tax bills. For instance, the 25th percentile tax bill is around $336, while the 75th percentile reaches up to $1,036. At the 90th percentile, the tax bill can be as high as $1,500. The median tax bill in the area is $620, which is lower than the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life.
Average Fort Garland Tax Bill
$620
Average Costilla County Tax Bill
$381
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Fort Garland, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81133 | $140 | $336 | $620 | $1,036 | $1,500 |
Source: Ownwell