81321 Property Tax Rate

Property owners in ZIP code 81321 (Cortez, Colorado) pay a median of $807/year in property taxes on homes valued at $259,500. This translates to an effective tax rate of 0.31%, which is 25% below the Colorado state average of 0.42%.

The monthly property tax burden for a median-valued home in 81321 is approximately $67, which factors into escrow payments on mortgages. This ZIP code is located within Montezuma County. This is $1,075 less than the Colorado average of $1,882/year.

Compared to similar ZIP codes in Colorado, 81321 has higher property taxes. ZIP codes with similar effective rates include 81428 (0.31%) and 80644 (0.31%).

In Cortez, property taxes represent approximately 1.4% of the median household income of $59,737, providing context for the relative tax burden on homeowners in this area.

Your Montezuma County property will be reassessed to current market value upon purchase with no annual growth cap under Colorado's post-Gallagher structure. The Senior Homestead Exemption is available to residents 65+ with 10+ years of occupancy and reduces your taxable base significantly—file with the Montezuma County Assessor. Contact the Montezuma County Assessor's office within 30 days of closing to submit your exemption claim.