How are taxes determined?
The valuation of the property is determined by the Pitkin County Assessor using the guidelines established by Colorado Statutes. The taxing authorities use the assessed value to determine their mill levies. A mill is 1/10th of a penny or $1.00 revenue for each thousand dollar of assessed valuation. The assessed value for each property is multiplied by the total mill levy for that taxing district to determine the total tax amount due.
Property taxes are figured by multiplying the assessed value of your property (as determined by the assessors office) by the mill levy which is set by the various taxing entities. The Treasurers Office collects these taxes and distributes the monies to the taxing entities. Remember: Taxes due are for the previous year.
Property taxes are figured by multiplying the assessed value of your property (as determined by the assessor’s office) by the mill levy which is set by the various taxing entities. The Treasurer’s Office collects these taxes and distributes the monies to the taxing entities. Remember: Taxes due are for the previous year.
The Assessor’s Office compiles a “tax roll”, listing each property. The property may include improvements (house, barns, sheds, etc.). “Full Value” is the appraised value determined by a San Juan County Appraiser. “Taxable Value” is one third (33 1/3%) of the “Full Value” of the taxed item. The “Tax Rate” is expressed in dollars of tax per thousand. The tax rate is established every year by the State Department of Finance and Administration based on the budgets submitted to the State by county schools, cities and the Voters, through the approval of bond issues. The New Mexico Department of Finance and Administration certifies the tax rate every September.
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