Local Taxes

Property Tax
All businesses in Colorado pay a property tax on real and personal property. The assessment rate is currently 29%. This rate is then multiplied by the mill rate to calculate actual taxes.

Example
A business with a $100,000 real property value and a $10,000 personal property value would multiply these values by 29%, and then multiply this rate by the mill levy (roughly 53 mills in 2009).

$110,000 x 29% x .053 = $1,691 taxes due

The residential assessment rate in Colorado is 7.96%. Montrose County, Fire Protection District, Library District, School District, and Recreation District levy a property tax.  The City of Montrose does not levy or collect any property taxes.

The county assessor oversees property tax collection in Montrose County.

Sales Tax
The City of Montrose derives over 80% of its revenues from city sales and use tax. The city does not collect any property taxes. city sales, use, and excise tax is collected by the Finance Department. The City of Montrose is a home-rule city and therefore collects its own sales tax.

State and Montrose County sales tax should be remitted to the Department of Revenue at the State of Colorado.

Current Sales Tax Rates
  • 3.00% - City
  • 1.75% - Montrose County
  • 2.9% - State
  • 7.65% - Total
As of August 1, 2008, the sales tax rate is 8.45% for restaurants and 8.55% for hotel / lodging establishments.

The state website has more information about business taxation in Colorado.