Colorado, Arizona Property Tax Law
In Colorado, Arizona, the government imposes a tax (a legally-mandated payment made to the government) on real property. "Real property" is defined as any piece of land, or object permanently or semi-permanently adhered to the land (such as buildings, trees, minerals, etc.).
Property taxes in Colorado, Arizona are determined as a percentage of the appraised value of the property. Property taxes are paid to the state or local government at regular (usually yearly) intervals.
Federal authorities do not collect a property tax. Only state and local governments collect property taxes, as a general matter.
How Property Tax is Calculated in Colorado, Arizona
Normally, Colorado, Arizona property taxes are determined as a percentage of the property's value. Tax rates vary widely, but they usually run from less than 1% up to about 5%.
To levy this tax, Colorado, Arizona tax authorities must first figure out how much a house or piece of land is worth.
Value, in some ways, is not an objective thing. For example, your childhood home is probably worth much more to you than its simple market value. However, the tax authorities use only objective factors in calculating a home's taxable value.
Thus, the people in charge of appraising the value of property in Colorado, Arizona have to consider only objective, factual criteria when calculating the value of a piece of land. These criteria include the state of the real estate market, the zoning of the land (which determines how it can be used), and any improvements that have been made to the land, among other things.
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How A Colorado, Arizona Property Tax Attorney Can Help.
The property tax system in Colorado, Arizona can get pretty convoluted. There are several reasons why you might run into a legal dispute regarding your property tax. For example, you may believe that the appraised value of your property was too high, increasing your tax burden unjustly. Or, the state might accuse you of failing to pay your property tax.
If you are affected by one of these, or any other, property tax legal issues in Colorado, Arizona, you should deal with it properly. If you fail to do so, a relatively minor issue can become much more expensive and inconvenient than it might otherwise have been. Therefore, the assistance of a brilliant tax attorney in Colorado, Arizona is highly useful in avoiding these issues in the first place, or handling them if they do arise.