Mountain Village, Colorado Property Taxes
The median property tax rate in Mountain Village, CO is 0.37%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With a median home value of $62,000, the typical annual property tax bill in Mountain Village is $230, well below the national median of $2,690. Property taxes here are calculated based on the assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Mountain Village'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 Mountain Village or another part of San Miguel County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mountain Village, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.37%
Estimate Property Tax Bill
$229
Ownwell’s Mountain Village Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Mountain Village with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Mountain Village to project your property tax bill. This valuable tool provides clear insights into potential tax obligations. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is determined by the county for tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Mountain Village, Colorado
Property taxes in Mountain Village, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mountain Village is 0.37%, significantly lower than the U.S. national median of 0.99%. Local government entities within Mountain Village set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mountain Village 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 Mountain Village's effective property tax rate to other areas in Colorado and the national median. Understanding how Mountain Village compares with other regions provides valuable insights into the varying tax landscape across San Miguel County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mountain Village Tax Rate
0.37%
Average San Miguel County Tax Rate
0.31%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mountain Village, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81435 | 0.15% | 0.37% | 0.37% | 0.37% | 0.37% |
Source: Ownwell
Property Tax Assessment Values Across Mountain Village, Colorado
In Mountain Village, 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 San Miguel 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 Mountain Village, 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 Mountain Village helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 81435 has both the highest and lowest median tax bills, each at $230.
Property Tax Assessment Values Across Mountain Village, Colorado
Source: Ownwell
$62,000
$543,943
$1,025,886
Average Mountain Village Assessed Value
$62,000
Average San Miguel County Assessed Value
$778,036
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mountain Village, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81435 | $31,000 | $62,000 | $62,000 | $278,750 | $1,772,163 |
Source: Ownwell
Property Tax Bills Across Mountain Village, Colorado
In Mountain Village, located in San Miguel County, Colorado, 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 market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. A key factor influencing the tax bill is the median home price, which stands at $62,000 in Mountain Village. Homeowners in this area typically see property tax bills ranging from $230 at the 25th percentile to $756 at the 90th percentile. The median property tax rate in Mountain Village is significantly lower than the national median of 0.99%, making it a more affordable option for homeowners. This lower tax burden can be particularly beneficial for those looking to invest in property or manage their annual expenses more effectively.
Average Mountain Village Tax Bill
$230
Average San Miguel County Tax Bill
$2,268
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Mountain Village, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81435 | $134 | $230 | $230 | $230 | $756 |
Source: Ownwell