Monte Vista, Colorado Property Taxes
The median property tax rate in Monte Vista, CO is 0.55%, aligning with the state median but significantly lower than the national median of 0.99%. With a median home value of $131,593, the typical annual property tax bill in Monte Vista is $622, which is well below the national median of $2,690. Property taxes in Monte Vista are calculated based on the assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Monte Vista's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Monte Vista or another part of the city, grasping the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Monte Vista, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$724
$672
Ownwell’s Monte Vista Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Monte Vista with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Monte Vista 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 Monte Vista, Colorado
Property taxes in Monte Vista, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Monte Vista is 0.55%, which is lower than the U.S. national median of 0.99%. Local government entities within Monte Vista set these rates annually, and they can vary significantly across different neighborhoods. Each year, Monte Vista 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 Monte Vista's effective property tax rate to other counties in Colorado and the national median. For comparison, the 81144 zip code has both the highest and lowest median property tax rate of 0.55%. Understanding how these cities compare with Monte Vista provides valuable insights into the varying tax landscape across Rio Grande County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Monte Vista Tax Rate
0.55%
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 Monte Vista, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81144 | 0.27% | 0.44% | 0.55% | 0.55% | 0.55% |
Source: Ownwell
Property Tax Assessment Values Across Monte Vista, Colorado
In Monte Vista, 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 Rio Grande 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 Monte Vista, 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 Monte Vista helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 81144 has both the highest and lowest median tax bill at $622, reflecting the diverse property values in the area.
Average Monte Vista Assessed Value
$131,593
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 Monte Vista, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81144 | $24,445 | $83,133 | $131,593 | $200,322 | $304,231 |
Source: Ownwell
Property Tax Bills Across Monte Vista, Colorado
In Monte Vista, located in Rio Grande County, CO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the home's market value, which in Monte Vista has a median home price of $131,593. The local tax rate is then applied to this assessed value to calculate the annual property tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. For homeowners in Monte Vista, property tax bills can significantly vary. The 25th percentile tax bill is $342, while the 75th percentile reaches $982, and the 90th percentile can be as high as $1700. These variations highlight the impact of property characteristics and local tax rates on the overall tax burden. Comparing these figures to the national median property tax rate of 0.99%, Monte Vista's property tax burden can be considered relatively moderate, offering some relief to homeowners.
Average Monte Vista Tax Bill
$622
Average Rio Grande County Tax Bill
$659
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Monte Vista, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81144 | $118 | $342 | $622 | $982 | $1,700 |
Source: Ownwell