Cortez, Montezuma County, Colorado Property Taxes

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

Median Cortez, CO effective property tax rate: 0.38%, significantly lower than the national median of 1.02%, but lower than the Colorado state median of 0.55%.
Median Cortez, CO home value: $165,082
Median annual Cortez, CO tax bill: $586, $1,814 lower than the national median property tax bill of $2,400.

How are property taxes in Montezuma calculated?

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

Last Updated March 1, 2025

Cortez, Montezuma County, Colorado Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.38%

Estimate Property Tax Bill

$627

$582

Ownwell’s Cortez Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Cortez with just two data points. By entering your property's estimated assessed value, our calculator applies Cortez’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 Montezuma County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Cortez, Montezuma County, Colorado

Local government entities set property tax rates, which can significantly differ within a state. Each county estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is essentially the annual process.

In Cortez, located in Montezuma County, CO, the effective property tax rate is notably lower than the national median of 1.02%. This lower rate can be advantageous for property owners, potentially leading to substantial savings compared to other regions. The median property tax rate in Colorado is also below the national average, making it an appealing state for those looking to minimize their property tax burden.

Comparing Cortez's effective property tax rate to other cities in Colorado and the U.S. highlights its competitive advantage. Property owners in Cortez may find the lower tax rate beneficial, especially when considering the national median property tax bill of $2,400. This comparison underscores the importance of understanding local tax rates for informed property investment decisions.

Property Tax Rates Across Cortez, Montezuma County, Colorado

Source: Ownwell

0.33%

0.41%

0.49%

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 Cortez Tax Rate

0.38%

Median Effective Montezuma County Tax Rate

0.39%

Median Effective Colorado Tax Rate

0.55%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Cortez, Montezuma County, Colorado

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
81321	0.20%	0.38%	0.38%	0.39%	0.41%

Source: Ownwell

Property Tax Assessment Values Across Cortez, Montezuma County, Colorado

When examining property taxes in Cortez, CO, 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 Montezuma County Assessor's Office 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. Assessment notices: Montezuma 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 Cortez. For example, the median home price in Cortez is $165,082, with tax bills ranging significantly across the county. 81321 has the highest median home price at $165,082.

Property Tax Assessment Values Across Cortez, Montezuma County, Colorado

Source: Ownwell

$127,550

$173,238

$218,926

Median Cortez Market Value

$165,082

Median Montezuma County Market Value

$183,673

Median Colorado Market Value

$405,540

Median United States Market Value

$235,294

Property Tax Assessment Values Across Cortez, Montezuma County, Colorado

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
81321	$61,615	$114,900	$165,082	$229,398	$303,952

Source: Ownwell

Property Tax Bills Across Cortez, Montezuma County, Colorado

In Cortez, located in Montezuma County, CO, property tax bills are determined by applying the local tax rate to the assessed value of a property. The assessed value is typically a percentage of the property's market value, which in Cortez, is influenced by factors such as property size, location, and market conditions. With a median home price of $165,082, homeowners face varying tax bills. The 25th percentile tax bill stands at $371, while the 75th percentile reaches $838, and the 90th percentile climbs to $1,153. Although Cortez's highest and lowest median tax bills both sit at $586 in the 81321 zip code, these figures are significantly lower than the national median property tax bill of $2,400. Homeowners can benefit from Ownwell's expertise in property tax appeals and exemptions. By leveraging local knowledge and experience, Ownwell can potentially reduce tax liabilities, ensuring homeowners are not overpaying and can keep more money in their pockets.

Property Tax Bills Across Cortez, Montezuma County, Colorado

Source: Ownwell

$439

$746

$1,052

Median Cortez Tax Bill

$586

Median Montezuma County Tax Bill

$702

Median Colorado Tax Bill

$2,283

Median United States Tax Bill

$2,400

Property Tax Bills Across Cortez, Montezuma County, Colorado

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
81321	$206	$371	$586	$838	$1,153

Source: Ownwell