Gypsum, Colorado Property Taxes
The median property tax rate in Gypsum, CO is 0.44%, considerably lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Gypsum at $405,830, the typical annual property tax bill reaches $2,078, which is below the national median of $2,690. Property taxes in Gypsum are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Gypsum's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Gypsum or another part of Eagle County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gypsum, Colorado Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$1,100
Ownwell’s Gypsum Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gypsum with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gypsum to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Gypsum, Colorado
Property taxes in Gypsum, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gypsum is 0.44%, significantly lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Gypsum set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gypsum estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Gypsum's effective property tax rate to other counties in Colorado and the national median. For comparison, the 81637 zip code has the highest median property tax rate of 0.44%, while the same zip code also has the lowest median tax rate of 0.44%. Understanding how these cities compare with Gypsum provides valuable insights into the varying tax landscape across Eagle County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gypsum Tax Rate
0.44%
Average Eagle County Tax Rate
0.44%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gypsum, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81637 | 0.44% | 0.44% | 0.44% | 0.68% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Gypsum, Colorado
In Gypsum, Colorado, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Eagle County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Gypsum, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Gypsum helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Gypsum is $405,830, with tax bills ranging from $1,466 at the 25th percentile to $4,342 at the 90th percentile. The zip code 81637 has both the highest and lowest median tax bill at $2,078.
Average Gypsum Assessed Value
$405,830
Average Eagle County Assessed Value
$678,345
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gypsum, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81637 | $151,020 | $316,600 | $405,830 | $533,780 | $649,850 |
Source: Ownwell
Property Tax Bills Across Gypsum, Colorado
In Gypsum, located in Eagle County, CO, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and is a percentage of the property's market value. For example, in Gypsum, the median home price is $405,830, which significantly influences the tax bill. The tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property improvements, neighborhood changes, and market conditions can affect the assessed value. In Gypsum, the tax bill ranges from $1,466 at the 25th percentile to $4,342 at the 90th percentile, indicating variability based on property value and other factors. Homeowners in Gypsum experience property tax bills that can be higher than the national median property tax rate of 0.99%, with the highest median tax bill recorded at $2,078 in the 81637 zip code. These property taxes fund essential local services, impacting the community's overall quality of life.
Average Gypsum Tax Bill
$2,078
Average Eagle County Tax Bill
$3,388
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Gypsum, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81637 | $702 | $1,466 | $2,078 | $3,517 | $4,342 |
Source: Ownwell