Mountain Vlg, Colorado Property Taxes
The median property tax rate in Mountain Village, CO is 0.26%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With a median home value of $1,019,152 in Mountain Village, the typical annual property tax bill amounts to $2,944, which is still higher than the national median of $2,690. Property taxes in Mountain Village are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. 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 the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mountain Vlg, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.26%
Estimate Property Tax Bill
$2,650
Ownwell’s Mountain Village Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mountain Village with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mountain Village 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 Mountain Vlg, Colorado
Property taxes in Mountain Village, Colorado, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Mountain Village is 0.26%, which is significantly lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Mountain Village set these rates annually, and they can vary 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 counties in Colorado and the national median. Understanding how these cities compare with Mountain Village 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 Vlg Tax Rate
0.26%
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 Vlg, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81435 | 0.23% | 0.25% | 0.26% | 0.33% | 0.33% |
Source: Ownwell
Property Tax Assessment Values Across Mountain Vlg, 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 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 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. For instance, the median home price in Mountain Village is $1,019,152. Property tax bills in the area range from $2,432 at the 25th percentile to $3,970 at the 90th percentile, with the highest and lowest median tax bills both being $2,944 in the 81435 zip code. 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.
Property Tax Assessment Values Across Mountain Vlg, Colorado
Source: Ownwell
$62,000
$543,943
$1,025,886
Average Mountain Vlg Assessed Value
$1,019,152
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 Vlg, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81435 | $737,732 | $874,962 | $1,019,152 | $1,330,610 | $1,530,412 |
Source: Ownwell
Property Tax Bills Across Mountain Vlg, Colorado
In Mountain Village, San Miguel County, CO, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The median home price in this area is $1,019,152. Homeowners can expect their tax bills to vary significantly, with the 25th percentile at $2,432 and the 75th percentile at $3,515. For those in the 90th percentile, the tax bill can reach up to $3,970. The property tax rate in Mountain Village plays a crucial role in these calculations. Compared to the national median property tax rate of 0.99%, the local rates can result in higher or lower tax bills depending on the assessed value of the property. This variability affects homeowners by influencing their annual financial planning and long-term investment strategies. Understanding these factors is essential for homeowners to anticipate their property tax obligations and manage their finances effectively.
Average Mountain Vlg Tax Bill
$2,944
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 Vlg, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81435 | $2,016 | $2,432 | $2,944 | $3,515 | $3,970 |
Source: Ownwell