Example of Teller County Property Tax Calculation
Teller County calculates property taxes 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 the property tax, the assessed value is multiplied by the county's mill levy. A mill levy is the amount of tax per $1,000 of assessed value. For example, if the assessed value of a property is $100,000, and the mill levy is 100 mills, the property tax would be $10,000.
It's important to note that the mill levy can vary depending on the location and specific property. Teller County publishes the mill levy for each area and property type on their website, making it easy for property owners to determine what their property tax would be.
Overall, property taxes play an important role in funding local government services such as schools, roads, and public safety. Understanding the calculation process can help property owners plan and budget accordingly.
If you want appeal your property tax assessment - contact your local tax assessor.
Teller County Property Tax Rates
Here is a formatted table listing the Teller County Property Tax rates in US Dollars per 100$ of assessed value:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County General Fund | 3.591 |
| Teller County Road and Bridge | 2.000 |
| Teller County 911 Emergency | 1.500 |
| Teller County Conservation Trust Fund | 0.687 |
| Teller County Public Safety Communications | 0.600 |
| Teller County Public Health | 0.200 |
| Teller County Regional Animal Shelter | 0.150 |
| Teller County Cemetery Fund | 0.080 |
| Teller County Vomit Tax | 0.001 |
It is important to note that these rates are subject to change and should be verified with the Teller County Treasurer's office.
Who sets property tax rates in Teller County ?
Who and When Sets Property Tax Rates in Teller County?
Who sets property tax rates in Teller County? Teller County's Board of County Commissioners sets property tax rates in Teller County.
When are property tax rates set in Teller County? The Board of County Commissioners sets property tax rates in Teller County every year as a part of the budget process. Property tax rates are typically set in December for the following year.
How are property tax rates determined in Teller County? Property tax rates in Teller County are determined based on the assessed value of the property, the mill levy, and any applicable exemptions. The mill levy is the amount per $1,000 of assessed property value that is used to calculate property taxes.
Who can provide more information about property taxes in Teller County? The Teller County Treasurer's office can provide more information about property taxes in Teller County, including payment options and deadlines. It is recommended that property owners consult with a licensed tax professional for guidance on how to maximize their tax benefits and minimize their tax liabilities.
Homestead exemptions in Teller County ?
To provide the necessary information on Homestead exemptions and deductions in Teller County, Colorado, the following table with columns for exemption, eligibility, amount, and notes has been created:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Senior Homestead Exemption | Age 65 or older, and lived in the property for at least 10 consecutive years | $100,000 | This exemption reduces the taxable value of the property by $100,000 |
| Disabled Veteran Exemption | Must be a veteran with a service-related disability rating of 100% | Varies | The exemption amount is based on the percentage of disability |
| Disabled Persons Exemption | Must be certified as permanently disabled by a medical professional | $4,000 | This exemption reduces the taxable value of the property by $4,000 |
| Blind Persons Exemption | Must be certified as legally blind by a medical professional | $4,000 | This exemption reduces the taxable value of the property by $4,000 |
| Agricultural Property Exemption | Must meet certain criteria related to land use and production | Varies | The exemption amount is based on the acreage and productivity of the agricultural property |
It is important to note that these exemptions and deductions are specific to Teller County in Colorado and may vary in other counties or states. Additionally, eligibility requirements and amounts may change over time, so it is recommended to consult with a tax professional or county assessor for the most up-to-date information.
Overall, these Homestead exemptions and deductions can provide significant tax savings for eligible property owners in Teller County, making it important to understand and take advantage of these opportunities.
When is Teller County Property Tax due ?
Teller County Property Tax is typically due on April 30th every year. However, if the due date falls on a weekend or a holiday, the deadline will be extended to the next business day.
Payment methods for Teller County Property Tax can vary. Taxpayers can choose to pay their property tax bill online through the Teller County website, in person at the Treasurer's Office, through the mail, or by phone.
Here is a breakdown of the different payment methods for Teller County Property Tax:
| Payment Method | Description |
|---|---|
| Online | Taxpayers can pay their property tax bill online through the Teller County website using a credit card, debit card, or electronic check. A convenience fee will be added to the total amount. |
| In Person | Taxpayers can pay their property tax bill in person at the Teller County Treasurer's Office located at 101 W Bennett Ave, Cripple Creek, CO 80813. The office is open from Monday through Friday, 8:00 am to 4:30 pm. |
| Taxpayers can mail their property tax payment to the Teller County Treasurer's Office at P.O. Box 367, Cripple Creek, CO 80813. Payments must be postmarked by April 30th to avoid penalties and interest. | |
| Phone | Taxpayers can pay their property tax bill by phone using a credit card, debit card, or electronic check by calling (719) 689-2985. A convenience fee will be added to the total amount. |
It's important to note that failure to pay Teller County Property Tax by the due date can result in penalties and interest fees. Therefore, it's crucial for taxpayers to review their property tax bill and make timely payments to avoid additional fees.
If you have more questions - contact your local tax collector.
How is Teller County Property Tax penalty calculated ?
Teller County Property Tax Penalty Calculation:
Property tax is an important source of revenue for local governments in the United States. Property owners are required to pay property taxes annually to support various public services such as schools, police, fire departments, and maintenance of public infrastructure. If a property owner fails to pay property taxes on time, penalties and interest charges may be levied on the outstanding balance.
Teller County in Colorado also follows a similar process. If a property owner fails to pay their property taxes by the due date, a penalty and interest are added to the outstanding balance. The penalty and interest rates are determined by the state and are applied on a monthly basis.
The penalty for late payment of property tax in Teller County is 1% of the outstanding balance per month. For example, if the outstanding property tax amount is $10,000 and the property owner fails to pay by the due date, then the penalty for the first month will be $100 (1% of $10,000).
In addition to the penalty, interest is also charged on the outstanding balance. The interest rate is determined by the state and may vary each year. As of 2021, the interest rate for Teller County property taxes is 9% per annum or 0.75% per month.
To avoid penalties and interest charges, property owners are advised to pay their property taxes on time. Property owners should also keep track of their tax payments and due dates to ensure timely payments. Failure to make timely payments can also result in foreclosure of the property by the county government.
In summary, the penalty for late payment of property tax in Teller County is calculated as follows:
| Penalty Calculation | Amount |
|---|---|
| Penalty Rate | 1% per month |
| Outstanding Balance | $10,000 |
| Penalty Amount | $100 (1% of $10,000) |
It is important to note that the penalty and interest rates may vary from state to state and can also change annually. Property owners should consult their local tax authorities for more information on property tax penalties and interest rates.
We recommend contacting the Teller County Tax Office or a local tax professional for the most up-to-date and accurate information.