Montezuma County Property Taxes
The median property tax rate in Montezuma County is 0.39%, which is significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Montezuma County at $183,673, the typical annual property tax bill is $702, considerably less than the national median of $2,690. Property taxes in Montezuma County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Montezuma County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Cortez or another part of Montezuma County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Montezuma County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.39%
Estimate Property Tax Bill
$716
Ownwell’s Montezuma Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Montezuma with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Montezuma to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Montezuma County, Colorado
Property taxes in Montezuma County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Montezuma County is 0.39%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Montezuma County set these rates annually, and they can vary significantly between different areas within the county. Each year, Montezuma County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Montezuma County's effective property tax rate with other regions in Colorado and the national median. For comparison, the city of Mancos has one of the higher property tax rates in Colorado at 0.49%, while the city of Dolores boasts one of the lowest at 0.46%. Analyzing how Montezuma County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Montezuma County Tax Rate
0.39%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Montezuma County, Colorado
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Cortez | 0.20% | 0.38% | 0.38% | 0.39% | 0.41% |
| Dolores | 0.27% | 0.39% | 0.46% | 0.49% | 0.54% |
| Lewis | 0.21% | 0.35% | 0.35% | 0.36% | 0.52% |
| Mancos | 0.32% | 0.44% | 0.49% | 0.55% | 0.60% |
| Pleasant View | 0.24% | 0.32% | 0.33% | 0.46% | 0.78% |
| Yellow Jacket | 0.26% | 0.33% | 0.33% | 0.42% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Montezuma County, Colorado
In Montezuma County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Montezuma County Appraisal District. The assessed value, however, 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. Assessment notices in Montezuma County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. The highest median tax bill in the county is $1,052 in Mancos, while the lowest is $439 in Pleasant View. Being aware of these valuation processes in Montezuma County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Montezuma County, Colorado
Source: Ownwell
$127,550
$173,238
$218,926
Average Montezuma County Assessed Value
$183,673
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Montezuma County, Colorado
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Cortez | $61,615 | $114,900 | $165,082 | $229,398 | $303,952 |
| Dolores | $82,881 | $143,964 | $215,358 | $292,313 | $385,537 |
| Lewis | $50,940 | $106,771 | $155,444 | $242,525 | $316,968 |
| Mancos | $80,038 | $145,998 | $218,926 | $316,646 | $432,019 |
| Pleasant View | $27,550 | $81,673 | $127,550 | $197,888 | $288,610 |
| Yellow Jacket | $46,606 | $86,668 | $160,626 | $276,050 | $437,945 |
Source: Ownwell
Property Tax Bills Across Montezuma County, Colorado
In Montezuma County, CO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the final tax bill. For instance, with a median home price of $183,673, homeowners can expect a range of tax bills. At the 25th percentile, tax bills are around $433, while at the 75th percentile, they rise to about $1,089. The 90th percentile sees tax bills reaching up to $1,564. Factors influencing the tax bill include the property's market value, local tax rates, and any applicable exemptions or abatements. For comparison, the national median property tax rate is 0.99%. In Montezuma County, the highest median tax bill is in Mancos at $1,052, whereas Pleasant View has the lowest at $439. These variations highlight the importance of understanding local tax assessments and their impact on homeowners' financial responsibilities.
Average Montezuma County Tax Bill
$702
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Montezuma County, Colorado
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Cortez | $206 | $371 | $586 | $838 | $1,153 |
| Dolores | $341 | $586 | $926 | $1,304 | $1,774 |
| Lewis | $173 | $334 | $540 | $787 | $1,166 |
| Mancos | $353 | $645 | $1,052 | $1,528 | $2,120 |
| Pleasant View | $113 | $299 | $439 | $740 | $1,038 |
| Yellow Jacket | $181 | $274 | $603 | $1,027 | $1,422 |
Source: Ownwell