Merino, Morgan County, Colorado Property Taxes
Median Merino, CO effective property tax rate: 0.71%, significantly lower than the national median of 1.02%, but higher than the Colorado state median of 0.55%.
Median Merino, CO home value: $171,730
Median annual Merino, CO tax bill: $1,343, $1,057 lower than the national median property tax bill of $2,400.
How are property taxes in Morgan calculated?
Property taxes in Merino, 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 Merino’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Merino, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Merino, Morgan County, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.82%
Estimate Property Tax Bill
$1,125
$1,044
Ownwell’s Merino Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Merino with just two data points. By entering your property's estimated assessed value, our calculator applies Merino’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 Morgan County. For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Merino, Morgan County, Colorado
Local government entities have the authority to set tax rates, leading to significant variations within a state. Each year, counties estimate their required budget to provide essential services and divide that by the total value of all taxable property within their jurisdiction. This calculation determines the property tax rate. Although votes and legislation play roles in setting these rates and budgets, this is essentially the annual process.
In Merino, located in Morgan County, Colorado, the effective property tax rate provides an interesting comparison to other cities within the state. The median property tax rate in Colorado is 0.71%, which is lower than the national median property tax rate of 1.02%. This difference highlights Colorado's relatively low property tax burden compared to the national average. Such a comparison can offer valuable insights for property owners considering where to invest or reside. Understanding these variations can be beneficial for homeowners looking to manage their expenses effectively.
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 Merino Tax Rate
0.82%
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 Morgan County Tax Rate
0.54%
Median Effective Colorado Tax Rate
0.50%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Merino, Morgan County, Colorado
Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
80741 | 0.50% | 0.63% | 0.82% | 1.10% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Merino, Morgan County, Colorado
When examining property taxes in Merino, 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 Morgan County Assessor 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 Morgan 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 Merino.
For example, the median home price in Merino is $171,730, with tax bills ranging significantly across the county. Zip code 80741 has the highest median home price at $171,730.
Property Tax Assessment Values Across Merino, Morgan County, Colorado
Source: Ownwell
$96,660
$227,953
$359,245
Median Merino Market Value
$137,250
Median Morgan County Market Value
$245,000
Median Colorado Market Value
$519,879
Median United States Market Value
$235,294
Property Tax Assessment Values Across Merino, Morgan County, Colorado
Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
80741 | $20,837 | $41,098 | $137,250 | $240,045 | $394,884 |
Source: Ownwell
Property Tax Bills Across Merino, Morgan County, Colorado
Median Merino Tax Bill
$1,223
Median Morgan County Tax Bill
$1,391
Median Colorado Tax Bill
$2,732
Median United States Tax Bill
$2,400
Property Tax Bills Across Merino, Morgan County, Colorado
Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
80741 | $181 | $429 | $1,223 | $1,846 | $6,491 |
Source: Ownwell