Mountain Village Property Tax Reduction
The Town of Mountain Village residents can expect to see a reduction in your property tax bill in the coming tax year as a result of the town paying off debt related to the Conference Center, Heritage Parking Garage, and the Water & Sewer bond. Residential homeowners can expect a reduction of approximately $800 per $1 million in actual property value, while commercial property owners will see a decrease of approximately $2,800 per $1 million in actual property value. Property tax is a tax assessed on real estate. The tax is usually based on the value of the property (including the land) you own and is often assessed by local or municipal governments. This tax is mainly used by municipalities for repairing roads, building schools and snow removal, or other similar services. Cities,municipalities, counties and school districts rely on property taxes to raise money for their budgets. Local governments then use the money they collect from property taxes to help fund the many public services they provide.
