Telluride, Colorado Property Taxes
The median property tax rate in Telluride, CO is 0.31%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Telluride at $1,025,886, the typical annual property tax bill reaches $3,279, surpassing the national median of $2,690. Property taxes in Telluride are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Telluride'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 Telluride 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
Telluride, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.31%
Estimate Property Tax Bill
$3,180
$2,951
Ownwell’s Telluride Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Telluride with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Telluride 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 Telluride, Colorado
Property taxes in Telluride, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Telluride is 0.31%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Telluride set these rates annually, and they can vary significantly across different neighborhoods. Each year, Telluride 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 Telluride's effective property tax rate to other counties in Colorado and the national median. Understanding how these cities compare with Telluride 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 Telluride Tax Rate
0.31%
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 Telluride, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81435 | 0.18% | 0.25% | 0.31% | 0.37% | 0.37% |
Source: Ownwell
Property Tax Assessment Values Across Telluride, Colorado
In Telluride, 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 Telluride, 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. The median home price in Telluride is $1,025,886, with the 25th percentile tax bill at $1,465 and the 75th percentile tax bill at $6,859. Being aware of these valuation processes in Telluride helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Telluride Assessed Value
$1,025,886
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 Telluride, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81435 | $225,510 | $423,923 | $1,025,886 | $2,653,950 | $5,339,079 |
Source: Ownwell
Property Tax Bills Across Telluride, Colorado
In Telluride, San Miguel County, CO, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. This assessed value is a percentage of the market value, reflecting current real estate conditions. The tax rate, or mill levy, is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax amount, including the property's location, size, and any applicable exemptions. For instance, the median home price in Telluride is $1,025,886, leading to a wide range of tax bills. At the 25th percentile, homeowners might pay around $1,465, while those at the 75th percentile could face bills up to $6,859. The highest median tax bill recorded in the area is $3,279 in zip code 81435, which is significantly higher than the national median property tax rate of 0.99%. These property taxes directly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services, making it crucial to understand and manage these expenses effectively.
Average Telluride Tax Bill
$3,279
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 Telluride, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81435 | $772 | $1,465 | $3,279 | $6,859 | $13,128 |
Source: Ownwell