Property Tax Lawyers in Durango
In Durango, Colorado, 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.).
In Durango, Colorado, property taxes are measured as a percentage of the land's value. They are most commonly paid annually. But in any case, they are paid at some set interval.
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 Durango, Colorado
Property tax in Durango, Colorado almost always takes the form of a tax levied on the appraised value of the property in question. Property tax rates in the U.S. range from 0.2% to around 5% of the property's value.
In order to levy this tax, the tax authorities in Durango, Colorado must have an uniform formula for figuring out the value of a given piece of property.
In many ways, the value of a piece of land is relative. After all, many people ascribe sentimental value to their homes, which goes well beyond its market value. To ensure that the system is fair, the government uses only objective standards to determine value.
To this end, the Durango, Colorado appraiser will look at things like the state of the real estate market, the size of the land, the presence of additions to the land such as buildings, and the way in which the property is zoned.
How A Durango, Colorado Property Tax Attorney Can Help.
The property tax system in Durango, Colorado 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 Durango, Colorado, 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 Durango, Colorado is highly useful in avoiding these issues in the first place, or handling them if they do arise.