Monument, El Paso County, Colorado Property Taxes

Name: Property Tax Bills Across Monument, El Paso County, Colorado
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Monument, CO effective property tax rate: 0.47%, significantly lower than the national median of 1.02%, but lower than the Colorado state median of 0.55%.
Median Monument, CO home value: $515,538
Median annual Monument, CO tax bill: $2,739, $339 higher than the national median property tax bill of $2,400.

How are property taxes in El Paso calculated?

Property taxes in Monument, CO are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Monument’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Monument, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Monument, El Paso County, Colorado Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.47%

Estimate Property Tax Bill

$2,423

$2,249

Ownwell’s Monument Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Monument with just two data points. By entering your property's estimated assessed value, our calculator applies Monument’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in El Paso County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Monument, El Paso County, Colorado

Local government entities set tax rates, which can vary widely within a state. Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Monument’s effective property tax rate to other cities in Colorado and the median property tax rates in Colorado and the U.S.

In Monument, located in El Paso County, property tax rates are notably different from the national average. The effective property tax rate here is significantly lower than the national median of 1.02%. This makes it an attractive area for property owners seeking to reduce their tax burden. Compared to other regions within Colorado, Monument maintains a consistent rate, which can be appealing to potential homeowners and investors. Understanding these rates is crucial for making informed real estate decisions, as they directly impact the overall cost of homeownership. Whether you're a current resident or considering a move to Monument, knowing how local property tax rates compare can help you plan your financial future more effectively.

Property Tax Rates Across Monument, El Paso County, Colorado

Source: Ownwell

0.27%

0.62%

0.96%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Monument Tax Rate

0.47%

Median Effective El Paso County Tax Rate

0.42%

Median Effective Colorado Tax Rate

0.55%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Monument, El Paso County, Colorado

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
80132	0.40%	0.47%	0.47%	0.68%	0.80%
80133	N/A	N/A	N/A	N/A	N/A
80921	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Monument, El Paso County, Colorado

When examining property taxes in Monument, Colorado, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The El Paso County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In El Paso County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Monument.

For example, the median home price in Monument is $515,538, with tax bills ranging significantly across the county. The 80132 zip code has the highest median home price at $515,734.

Property Tax Assessment Values Across Monument, El Paso County, Colorado

Source: Ownwell

$62,940

$289,337

$515,734

Median Monument Market Value

$515,538

Median El Paso County Market Value

$319,355

Median Colorado Market Value

$405,540

Median United States Market Value

$235,294

Property Tax Assessment Values Across Monument, El Paso County, Colorado

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
80132	$263,960	$416,494	$515,734	$626,279	$774,012
80133	N/A	N/A	N/A	N/A	N/A
80921	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Monument, El Paso County, Colorado

In Monument, located in El Paso County, CO, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the home's market value, which in Monument is reflected by a median home price of $515,538. The tax rate in this area is relatively competitive compared to the national median property tax rate of 1.02%. Homeowners in Monument can expect tax bills that vary significantly, with the 25th percentile at $2,190 and the 75th percentile at $3,668. The highest median tax bill in the region is $2,739, which is above the national median property tax bill of $2,400. These figures highlight the importance of understanding local tax assessments and potential savings. Ownwell can assist homeowners in reducing their property tax bills by identifying discrepancies in assessments and filing appeals on their behalf. By leveraging expert knowledge and local insights, Ownwell ensures homeowners pay only their fair share, potentially saving them significant amounts annually.

Property Tax Bills Across Monument, El Paso County, Colorado

Source: Ownwell

$311

$1,860

$3,409

Median Monument Tax Bill

$2,739

Median El Paso County Tax Bill

$1,379

Median Colorado Tax Bill

$2,283

Median United States Tax Bill

$2,400

Property Tax Bills Across Monument, El Paso County, Colorado

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
80132	$1,533	$2,190	$2,739	$3,669	$4,574
80133	N/A	N/A	N/A	N/A	N/A
80921	N/A	N/A	N/A	N/A	N/A

Source: Ownwell