Example of Rio Grande County Property Tax Calculation
Rio Grande County calculates property tax based on the assessed value of the property. The assessed value is determined by the County Assessor's office and is based on the market value of the property.
To calculate property tax, the assessed value is multiplied by the mill levy rate. The mill levy rate is the rate of tax per $1,000 of assessed value.
For example, if a property in Rio Grande County has an assessed value of $150,000 and the mill levy rate is 100, the property tax would be calculated as follows:
$150,000 (assessed value) / 1,000 = $150 (assessed value per $1,000) $150 x 100 (mill levy rate) = $15,000 (property tax)
Therefore, the property tax for a property with an assessed value of $150,000 and a mill levy rate of 100 in Rio Grande County would be $15,000.
If you want appeal your property tax assessment - contact your local tax assessor.
Rio Grande County Property Tax Rates
Here is a formatted table listing the Rio Grande County Property Tax rates in US dollars per $100 of assessed value:
| Tax | Rate per $100 Assessed Value |
|---|---|
| County General Fund | $0.794 |
| County Road & Bridge Fund | $2.004 |
| County Social Services Fund | $0.377 |
| County Historical Society Fund | $0.012 |
| County Fair Fund | $0.017 |
| County Conservation Trust Fund | $0.128 |
| School District #1 General Fund | $5.964 |
| School District #1 Bond Redemption Fund | $0.093 |
| School District #1 Bond Interest Fund | $0.487 |
| South Conejos School District General Fund | $6.415 |
| South Conejos School District Bond Redemption Fund | $0.924 |
| South Conejos School District Bond Interest Fund | $0.884 |
These rates are subject to change, and may vary depending on the specific location and assessed value of the property in Rio Grande County.
Who sets property tax rates in Rio Grande County ?
Property Tax Rates in Rio Grande County
In Rio Grande County, property tax rates are set by the Board of County Commissioners annually. The county’s budget process includes setting the tax levy, which is the amount of money needed to fund county services, and then calculating the tax rate based on the total assessed value of properties in the county.
The Rio Grande County Assessor’s Office is responsible for determining the value of properties in the county. Property owners receive a notice of valuation each year that shows the assessed value of their property, which is then used to calculate the property tax bill.
The property tax rate in Rio Grande County varies depending on the location and type of property, as well as any local mill levies that have been approved. Mill levies are additional property taxes that are assessed by special districts or municipalities within the county.
It’s important for property owners in Rio Grande County to understand how property taxes are calculated and how they can appeal their property valuation if they believe it is incorrect. A tax advisor can help property owners navigate the complex world of property taxes and ensure that they are paying the correct amount.
Homestead exemptions in Rio Grande County ?
A table with the following columns has been created to include all county-specific homestead exemptions and deductions in Rio Grande County, Colorado:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Senior Homestead Exemption | Age 65+ and owned and occupied primary residence for at least 10 years | Up to 50% of the first $200,000 of actual value | Must apply annually |
| Disabled Veteran Homestead Exemption | Honorably discharged veteran with a 100% permanent disability rating | First $100,000 of actual value | Must provide documentation |
| Military Active Duty Exemption | Active duty military personnel who own and occupy primary residence | First $200,000 of actual value | Must provide documentation |
| Agricultural Land Classification | Owners of qualifying agricultural lands | Exempt from 29% of assessed value | Lands must meet specific requirements |
| Renewable Energy System Exemption | Owners of residential property with an installed renewable energy system | Exempt from additional property value attributed to the system | Must provide documentation |
It is important to note that some exemptions require annual application and documentation to maintain eligibility. Additionally, agricultural land must meet specific requirements to receive the classification exemption.
Overall, Rio Grande County offers a variety of homestead exemptions and deductions to eligible residents. It is recommended that individuals thoroughly review the eligibility requirements and application process for each exemption to ensure they receive the maximum benefits available to them.
When is Rio Grande County Property Tax due ?
Rio Grande County property tax is typically due on April 30th of each year. However, this date may vary depending on weekends and holidays.
There are several payment methods available for Rio Grande County Property Tax:
| Payment Method | Details |
|---|---|
| Online | Property taxes can be paid online using a credit or debit card. |
| Payments can be mailed in the form of a check or money order to the address listed on the tax bill. | |
| In Person | Payments can be made in person at the Rio Grande County Treasurer's office located at 925 6th Street, Room 200, Del Norte, Colorado. Cash, check, or credit/debit cards are accepted. |
It is important to note that if property taxes are not paid by the due date, penalties and interest fees will be added. Therefore, it is recommended to pay the taxes on time to avoid any additional charges.
If you have more questions - contact your local tax collector.
How is Rio Grande County Property Tax penalty calculated ?
Rio Grande County Property Tax Penalty Calculation
If a property owner fails to pay their property tax bill in Rio Grande County, they may incur penalties. The penalty is calculated based on a percentage of the delinquent tax amount.
The penalty for late payment is 1% per month or any part of a month, up to a maximum of 10%. For example, if a property owner owes $1,000 in delinquent taxes and has not paid for 9 months, the penalty would be 9% of $1,000, which is $90.
In addition to the penalty, interest accrues on the delinquent amount at a rate of 1% per month or any part of a month. Interest is calculated on the original amount of the delinquent taxes plus any penalty that has been assessed.
The table below shows an example of how the penalty and interest for delinquent taxes is calculated in Rio Grande County:
| Month | Delinquent Amount | Penalty | Interest |
|---|---|---|---|
| 0 | $1,000 | $0 | $0 |
| 1 | $1,010 | $10 | $10 |
| 2 | $1,020 | $20 | $20 |
| 3 | $1,030 | $30 | $30 |
| 4 | $1,040 | $40 | $40 |
| 5 | $1,050 | $50 | $50 |
| 6 | $1,060 | $60 | $60 |
| 7 | $1,070 | $70 | $70 |
| 8 | $1,080 | $80 | $80 |
| 9+ | $1,090 | $90 | $90+ |
It is important to remember that property taxes are due on the first business day in April. Failure to pay by that date will result in penalties and interest being added to the delinquent amount. It is advisable to pay property taxes on time to avoid incurring additional costs.
We recommend contacting the Rio Grande County Tax Office or a local tax professional for the most up-to-date and accurate information.