Example of Fremont County Property Tax Calculation
In Fremont County, property taxes are calculated based on the assessed value of the property. To determine the assessed value, the county assessor will evaluate the property's market value and apply a percentage based on its classification. For example, residential properties are assessed at 7.96% of their market value, while commercial properties are assessed at 29% of their market value.
Once the assessed value is determined, the property tax rate is applied. In Fremont County, the tax rate for 2021 is $12.97 per $1,000 of assessed value. To calculate the property tax, simply multiply the assessed value by the tax rate and divide by 1,000.
For example, if a residential property has an assessed value of $200,000, the property tax would be calculated as follows:
$200,000 x 0.0796 = $15,920 (assessed value) $15,920 / 1,000 = $15.92 (tax rate) $15.92 x 12.97 = $206.63 (property tax)
Therefore, the property tax for this specific property would be $206.63. It is important to note that property tax rates and assessment percentages may vary depending on the county and classification of the property.
If you want appeal your property tax assessment - contact your local tax assessor.
Fremont County Property Tax Rates
The table below displays the property tax rates in Fremont County, stated in US dollars per $100 of assessed value:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| General | $2.36 |
| School | $3.94 |
| County | $0.50 |
| City | $0.70 |
It is important to note that these rates are subject to change and may differ based on the specific location and value of the property. As a tax advisor, it is recommended to consult with local authorities and assessors for the most up-to-date and accurate information.
Who sets property tax rates in Fremont County ?
Fremont County Property Tax Rates: Who Sets Them and When?
In Fremont County, Wyoming, property tax rates are determined by the County Commission. This group is composed of five elected officials, who decide on the tax rates annually during meetings in May and June.
The County Commission takes into account various factors when setting the property tax rates, including the county's revenue needs and the county's assessed property values. Property owners can attend these meetings to voice their concerns and opinions about the proposed tax rates.
Once the County Commission approves the property tax rates, they are recorded and sent to the County Clerk's office. Property owners in Fremont County can expect to receive their property tax bills in September, with payment due by November 10th.
It's important for property owners to stay informed about the property tax rates in their county, as they can have a significant impact on their finances. Being aware of when and how the rates are set can help property owners plan for their tax bills and ensure that they are paying the appropriate amount.
Homestead exemptions in Fremont County ?
Here is a table that includes all county specific Homestead exemptions and deductions in Fremont County, Colorado:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Senior Homestead Exemption | Age 65 or older, owned and occupied property for at least 10 consecutive years | $100,000 of the actual value of the property | Must apply annually by July 15 |
| Disabled Veteran Exemption | Veteran with a 100% service-connected disability, owned and occupied property for at least 10 consecutive years | $200,000 of the actual value of the property | Must provide documentation from the VA and apply annually by July 15 |
| Active Duty Military Exemption | Active duty military personnel who own and occupy property in Colorado | Exemption of 50% of the first $200,000 of the actual value of the property | Must provide documentation of active duty status |
| Surviving Spouse of a Veteran Exemption | Spouse of a deceased veteran who was receiving the Disabled Veteran Exemption, owned and occupied property for at least 10 consecutive years | $200,000 of the actual value of the property | Must provide documentation from the VA and apply annually by July 15 |
| Business Personal Property Exemption | Businesses that own personal property used exclusively for business purposes | 100% exemption of assessed value | Must apply annually by July 15 |
Note: All applicants must provide proof of eligibility and meet application deadlines to receive exemptions/deductions.
Hopefully this table helps make it easy to understand and access the various exemptions and deductions available in Fremont County, Colorado.
When is Fremont County Property Tax due ?
Fremont County Property Tax is typically due on May 10th of each year. Property owners are required to pay their taxes in full by this deadline to avoid penalties and interest charges.
Payment methods for Fremont County Property Tax include:
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Online payments: Residents can make payments online through the Fremont County website. This method allows property owners to pay their taxes conveniently from their home or office using a debit or credit card.
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Mail-in payments: Property owners can also mail in their payment by check or money order. Payments should be mailed to the Fremont County Treasurer's Office and must be postmarked by May 10th to avoid penalties.
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In-person payments: For those who prefer to make their payment in person, the Fremont County Treasurer's Office is open Monday through Friday from 8:00 am to 4:00 pm. Payments can be made using cash, check, or money order.
It's important to note that failing to pay property taxes on time can result in penalties and interest charges. Property owners who are unable to pay their taxes in full by the May 10th deadline should contact the Fremont County Treasurer's Office to inquire about payment plans or other options.
If you have more questions - contact your local tax collector.
How is Fremont County Property Tax penalty calculated ?
Fremont County Property Tax Penalty Calculation
The penalty for late payment of property taxes in Fremont County, USA is calculated based on the number of days past the due date. The rate of the penalty is 1% of the unpaid tax for the first month, and an additional 1% for each subsequent month until the taxes are paid in full.
Here is an example to illustrate the calculation:
| Property Tax Amount | Due Date | Payment Date | Number of Days Late | Penalty Amount |
|---|---|---|---|---|
| $2,000 | July 31 | August 15 | 15 | $20 |
| $2,000 | August 31 | October 1 | 31 | $40 |
| $2,000 | September 30 | November 15 | 46 | $60 |
In the example above, the property tax amount due is $2,000. The due date for the taxes is July 31. If the payment is made on August 15, the payment is 15 days late. Therefore, the penalty amount would be $20, calculated as 1% of the unpaid tax for the first month.
If the payment is made on October 1, the payment is 31 days late. Therefore, the penalty amount would be $40, calculated as 1% of the unpaid tax for the first month plus an additional 1% for the second month.
If the payment is made on November 15, the payment is 46 days late. Therefore, the penalty amount would be $60, calculated as 1% of the unpaid tax for the first month plus an additional 1% for each subsequent month until the taxes are paid in full.
In conclusion, it is important for property owners in Fremont County to pay their property taxes on time to avoid incurring penalties.
We recommend contacting the Fremont County Tax Office or a local tax professional for the most up-to-date and accurate information.