Durango, Colorado Property Taxes
The median property tax rate in Durango, CO is 0.24%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With a median home value of $545,970 in Durango, the typical annual property tax bill reaches $1,347, which is well below the national median of $2,690. Property taxes in Durango are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Durango'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 Durango 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
Durango, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.24%
Estimate Property Tax Bill
$1,310
Ownwell’s Durango Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Durango using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Durango 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 Durango, Colorado
Property taxes in Durango, Colorado, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Durango is 0.24%, which is significantly lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Durango set these rates annually, and they can vary significantly across different neighborhoods. Each year, Durango 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 Durango's effective property tax rate to other counties in Colorado and the national median. For comparison, the highest median property tax rate in Colorado is found in certain areas, while other regions have much lower rates. Understanding how these cities compare with Durango provides valuable insights into the varying tax landscape across La Plata County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Durango Tax Rate
0.24%
Average La Plata County Tax Rate
0.25%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Durango, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81301 | 0.19% | 0.22% | 0.24% | 0.26% | 0.34% |
| 81303 | 0.19% | 0.22% | 0.25% | 0.30% | 0.36% |
Source: Ownwell
Property Tax Assessment Values Across Durango, Colorado
In Durango, 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 La Plata 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 Durango, 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. For instance, zip code 81301 has the highest median tax bill at $1,366, while zip code 81303 has the lowest at $1,268. Being aware of these valuation processes in Durango helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Durango Assessed Value
$545,970
Average La Plata County Assessed Value
$472,120
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Durango, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81301 | $196,664 | $392,980 | $565,870 | $786,260 | $1,092,128 |
| 81303 | $114,875 | $314,172 | $458,390 | $657,508 | $914,060 |
Source: Ownwell
Property Tax Bills Across Durango, Colorado
In Durango, La Plata County, CO, property tax bills are calculated based on the assessed value of a home, which is derived from a percentage of the market value. The median home price in Durango is $545,970, and property tax bills can vary significantly. Factors such as the property's location, size, and improvements influence the assessed value. The tax rate is applied to this assessed value to determine the tax bill. In Durango, the property tax rate tends to be lower than the national median of 0.99%. For instance, the tax bill at the 25th percentile is $943, while at the 75th percentile, it rises to $1,953. The highest median tax bill in the area is $1,366 in the 81301 zip code, and the lowest median tax bill is $1,268 in the 81303 zip code. These property tax bills impact homeowners by affecting their annual housing costs, making it essential to understand how these taxes are calculated and what factors contribute to the final amount.
Average Durango Tax Bill
$1,347
Average La Plata County Tax Bill
$1,300
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Durango, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81301 | $610 | $972 | $1,366 | $1,990 | $2,896 |
| 81303 | $491 | $839 | $1,268 | $1,789 | $2,388 |
Source: Ownwell