Parlin, Colorado Property Taxes
The median property tax rate in Parlin, Colorado is 0.42%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Parlin at $335,190, the typical annual property tax bill reaches $1,486, well below the national median of $2,690. Property taxes in Parlin are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Parlin'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 Parlin or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Parlin, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.42%
Estimate Property Tax Bill
$1,408
Ownwell’s Parlin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Parlin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Parlin 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 Parlin, Colorado
Property taxes in Parlin, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Parlin is 0.42%, significantly lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Parlin set these rates annually, and they can vary across different neighborhoods. Each year, Parlin 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 Parlin's effective property tax rate to other counties in Colorado and the national median. For comparison, the zip code 81239 has the highest median property tax rate of 0.42%, while the same zip code also has the lowest median tax rate of 0.42%. Understanding how these cities compare with Parlin provides valuable insights into the varying tax landscape across Gunnison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Parlin Tax Rate
0.42%
Average Gunnison County Tax Rate
0.46%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Parlin, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81239 | 0.42% | 0.42% | 0.42% | 0.52% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Parlin, Colorado
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Parlin, CO. 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 Gunnison 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 Parlin, 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. The median tax bill in Parlin is $1,486, with the zip code 81239 having both the highest and lowest median tax bills. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Parlin Assessed Value
$335,190
Average Gunnison County Assessed Value
$413,850
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Parlin, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81239 | $65,574 | $190,580 | $335,190 | $527,980 | $646,620 |
Source: Ownwell
Property Tax Bills Across Parlin, Colorado
In Parlin, Gunnison County, CO, property tax bills are determined by multiplying the assessed value of a home by the local property tax rate. The assessed value is a percentage of the home's market value, which is determined by local assessors. Various factors, including the property's location, size, and condition, influence this assessed value. For instance, the median home price in Parlin is $335,190. Homeowners in Parlin can expect their property tax bills to vary significantly. The 25th percentile tax bill is $928, while the 75th percentile reaches $2,592, and the 90th percentile climbs to $3,184. These figures illustrate the range of property tax burdens homeowners might face, reflecting differences in property values and applicable tax rates. Comparatively, the national median property tax rate is 0.99%, placing Parlin's property tax context within a broader framework. Understanding these factors can help homeowners anticipate their tax obligations and plan accordingly.
Average Parlin Tax Bill
$1,486
Average Gunnison County Tax Bill
$1,892
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Parlin, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81239 | $273 | $928 | $1,486 | $2,592 | $3,184 |
Source: Ownwell