Rio Grande County, Colorado Property Taxes
The median property tax rate in Rio Grande County is 0.45%, 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 Rio Grande County at $142,738, the typical annual property tax bill is approximately $659, far below the national median of $2,690. Property taxes in Rio Grande County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions such as the primary residence and agricultural exemptions. Understanding Rio Grande 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 Monte Vista or another part of Rio Grande County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rio Grande County, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.45%
Estimate Property Tax Bill
$642
$596
Ownwell’s Rio Grande County Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Rio Grande County with just two data points. By entering your property's estimated assessed value, our calculator applies the median tax rate in Rio Grande County to provide an estimate of your property tax bill. This tool offers valuable insights to help you understand potential tax liabilities. For more localized information, you can explore trends on a city level by scrolling down. Your property's assessed value is the value assigned by the county for tax calculations, considering any exemptions you may have.
Property Tax Rates Across Rio Grande County, Colorado
Property taxes in Rio Grande County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Rio Grande County is 0.45%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Rio Grande County set these rates annually, and they can vary significantly between different areas within the county. Each year, Rio Grande 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 Rio Grande County's effective property tax rate with other areas in Colorado and the national median. For comparison, the city of Monte Vista has one of the higher property tax rates in Colorado at 0.55%, while the city of Center boasts one of the lowest at 0.44%. Analyzing how Rio Grande County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Rio Grande County Tax Rate
0.45%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rio Grande County, Colorado
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Center | 0.42% | 0.42% | 0.44% | 1.09% | 2.17% |
| Del Norte | 0.27% | 0.45% | 0.51% | 0.55% | 0.59% |
| La Jara | N/A | N/A | N/A | N/A | N/A |
| Monte Vista | 0.27% | 0.44% | 0.55% | 0.55% | 0.55% |
| South Fork | 0.45% | 0.45% | 0.45% | 0.45% | 0.45% |
Source: Ownwell
Property Tax Assessment Values Across Rio Grande County, Colorado
In Rio Grande, 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 Rio Grande 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 Rio Grande 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. Being aware of these valuation processes in Rio Grande will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. In Rio Grande, the highest median tax bill is found in La Jara at $2,557, while the lowest is in Del Norte at $557. The national median property tax rate stands at 0.99%, making it essential to understand your local tax landscape.
Property Tax Assessment Values Across Rio Grande County, Colorado
Source: Ownwell
$118,503
$164,080
$209,657
Average Rio Grande County Assessed Value
$142,738
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rio Grande County, Colorado
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Center | $13,029 | $125,444 | $211,890 | $284,979 | $407,269 |
| Del Norte | $17,047 | $61,201 | $118,380 | $201,635 | $305,057 |
| La Jara | N/A | N/A | N/A | N/A | N/A |
| Monte Vista | $24,445 | $83,133 | $131,593 | $200,322 | $304,231 |
| South Fork | $27,656 | $88,559 | $209,136 | $343,175 | $524,849 |
Source: Ownwell
Property Tax Bills Across Rio Grande County, Colorado
In Rio Grande County, CO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in this region experience a range of tax bills, influenced by factors such as property location and market conditions. The median home price in Rio Grande County is $142,738. Tax bills can vary significantly, with the 25th percentile paying around $331, and the 75th percentile facing bills up to $1,173. At the 90th percentile, tax bills can reach as high as $2,033. The highest median tax bill in the county is found in LA JARA, amounting to $2,557, while DEL NORTE boasts the lowest median tax bill at $557. These variations highlight the impact of local assessments and market values on property taxes. For homeowners, understanding these factors is crucial as they directly influence annual tax obligations, making it essential to stay informed and possibly seek exemptions or appeals to manage costs effectively.
Average Rio Grande County Tax Bill
$659
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Rio Grande County, Colorado
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Center | $55 | $501 | $1,055 | $2,754 | $7,590 |
| Del Norte | $86 | $278 | $557 | $989 | $1,592 |
| La Jara | N/A | N/A | N/A | N/A | N/A |
| Monte Vista | $118 | $342 | $622 | $982 | $1,700 |
| South Fork | $126 | $375 | $904 | $1,533 | $2,450 |
Source: Ownwell