Ridgway, Ouray County, Colorado Property Taxes
Median Ridgway, CO effective property tax rate: 0.40%, significantly lower than the national median of 1.02%, but lower than the Colorado state median of 0.55%.
Median Ridgway, CO home value: $847,320
Median annual Ridgway, CO tax bill: $3,517, $1,117 higher than the national median property tax bill of $2,400.
How are property taxes in Ouray County calculated?
Property taxes in Ridgway, 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 Ridgway’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Ridgway, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Ridgway, Ouray County, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.4%
Estimate Property Tax Bill
$3,389
$3,145
Property Tax Rates Across Ridgway, Ouray County, Colorado
Local government entities are responsible for setting tax rates, which can vary significantly within a state. This variation occurs because each county annually estimates the budget required to provide services and divides it by the total value of all taxable property in its jurisdiction. This calculation determines the property tax rate. Although votes and laws play a role in setting tax rates and budgets, this is essentially the annual process.
You can compare Ridgway's effective property tax rate to other cities in Colorado and the median property tax rates in Colorado and the U.S. Ridgway, located in Ouray County, reflects a local property tax rate that is notably lower than the national median of 1.02%. This difference can be attributed to local budgeting needs and the total property value within the county. The effective tax rate in Ridgway is consistent across the region, indicating a stable tax environment. Comparing these rates provides insight into how property taxes in Ridgway stack up against state and national figures, offering potential savings for property owners in this area.
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 Ridgway Tax Rate
0.40%
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 Ouray County Tax Rate
0.40%
Median Effective Colorado Tax Rate
0.55%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Ridgway, Ouray County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81432 | 0.38% | 0.38% | 0.40% | 0.46% | 0.46% |
Source: Ownwell
Property Tax Assessment Values Across Ridgway, Ouray County, Colorado
When examining property taxes in Ridgway, 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 Ouray 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 Ouray 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 Ridgway.
For example, the median home price in Ridgway is $847,320, with tax bills ranging significantly across the county. Zip code 81432 has the highest median home price at $847,320.
Property Tax Assessment Values Across Ridgway, Ouray County, Colorado
Source: Ownwell
$572,090
$709,705
$847,320
Median Ridgway Market Value
$847,320
Median Ouray County Market Value
$723,215
Median Colorado Market Value
$405,540
Median United States Market Value
$235,294
Property Tax Assessment Values Across Ridgway, Ouray County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81432 | $371,320 | $586,605 | $847,320 | $1,169,828 | $1,587,038 |
Source: Ownwell
Property Tax Bills Across Ridgway, Ouray County, Colorado
Median Ridgway Tax Bill
$3,517
Median Ouray County Tax Bill
$2,936
Median Colorado Tax Bill
$2,283
Median United States Tax Bill
$2,400
Property Tax Bills Across Ridgway, Ouray County, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81432 | $1,603 | $2,325 | $3,517 | $4,846 | $6,434 |
Source: Ownwell