Model, Otero County, Colorado Property Taxes

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

Median MODEL, CO effective property tax rate: 0.42%, significantly lower than the national median of 1.02%, but lower than the Colorado state median of 0.55%.
Median MODEL, CO home value: $98,880
Median annual MODEL, CO tax bill: $393, $2,007 lower than the national median property tax bill of $2,400.

How are property taxes in Otero calculated?

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

Last Updated March 1, 2025

Model, Otero County, Colorado Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.36%

Estimate Property Tax Bill

$260

$241

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

Property Tax Rates Across Model, Otero County, Colorado

Local government entities determine tax rates, which can differ significantly within a state. Each county annually calculates its budget needs to provide essential services and divides this figure by the total value of all taxable properties within its area. This process establishes the property tax rate. Although votes and legislation play roles in determining tax rates and budgets, this is the fundamental annual procedure.

You can compare {cityname:MODEL}’s effective property tax rate to other cities in {statename:CO} and the median property tax rates in {statename:CO} and the U.S. In {countyname:08089}, the property tax rate is notably lower than the national median property tax rate of 1.02%. This difference can make a significant impact on property owners' annual tax bills, especially when compared to the national median property tax bill of $2400. Understanding these differences is crucial for property owners looking to optimize their tax liabilities. By considering the effective tax rates in different areas, property owners can make informed decisions about where to invest or settle, potentially saving thousands of dollars annually.

Property Tax Rates Across Model, Otero County, Colorado

Source: Ownwell

0.24%

0.31%

0.39%

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 Model Tax Rate

0.36%

Median Effective Otero County Tax Rate

0.26%

Median Effective Colorado Tax Rate

0.50%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Model, Otero County, Colorado

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
81059	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Model, Otero County, Colorado

When examining property taxes in Model, 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 Otero 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: In Otero 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 Model.

For example, the median home price in Model is $98,880, with tax bills ranging significantly across the county. The national median property tax rate is 1.02%, and the median property tax bill is $2,400, highlighting the diversity in tax bills within the region.

Property Tax Assessment Values Across Model, Otero County, Colorado

Source: Ownwell

$67,905

$98,338

$128,770

Median Model Market Value

$72,161

Median Otero County Market Value

$88,348

Median Colorado Market Value

$519,879

Median United States Market Value

$235,294

Property Tax Assessment Values Across Model, Otero County, Colorado

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
81059	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Model, Otero County, Colorado

In the city of MODEL, located in Otero County, CO, property tax bills are determined based on the assessed value of a home, which is a percentage of the market value. The local tax rate is then applied to this assessed value to calculate the annual tax bill. With a median home price of $98,880, homeowners in MODEL face a tax bill that varies significantly, ranging from $321 at the 25th percentile to $1,315 at the 90th percentile. This variability highlights the impact of different property values and local tax rates on the overall tax burden. Compared to the national median property tax bill of $2,400, homeowners in MODEL generally experience lower tax bills, providing some relief in an otherwise high-cost environment. Ownwell assists homeowners by offering expert property tax appeal and exemption services, potentially lowering their tax obligations. By analyzing property assessments and identifying discrepancies, Ownwell helps ensure that homeowners are not overpaying, making property ownership more affordable and sustainable.

Property Tax Bills Across Model, Otero County, Colorado

Source: Ownwell

$116

$266

$415

Median Model Tax Bill

$257

Median Otero County Tax Bill

$177

Median Colorado Tax Bill

$2,732

Median United States Tax Bill

$2,400

Property Tax Bills Across Model, Otero County, Colorado

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
81059	N/A	N/A	N/A	N/A	N/A

Source: Ownwell