Gypsum, Colorado Property Taxes
The median property tax rate in Gypsum, CO is 0.39%, significantly 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 $483,300, the typical annual property tax bill is $1,912, which is below the national median of $2,690. Property taxes in Gypsum are calculated based on the tax assessed value, which often 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 the city, 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, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gypsum is 0.39%, which is 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, some regions in Colorado have higher median property tax rates, while others have lower rates. Understanding how these cities compare with Gypsum provides valuable insights into the varying tax landscape across Garfield County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gypsum Tax Rate
0.39%
Average Garfield County Tax Rate
0.50%
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 | 0.32% | 0.39% | 0.39% | 0.39% | 0.55% |
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 Garfield 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. Gypsum has a median home price of $483,300, and the highest and lowest median tax bills are both $1,912, found in the 81637 zip code.
Average Gypsum Assessed Value
$483,300
Average Garfield County Assessed Value
$363,015
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 | $161,517 | $301,740 | $506,100 | $648,048 | $892,898 |
Source: Ownwell
Property Tax Bills Across Gypsum, Colorado
In Gypsum, located in Garfield County, CO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Gypsum is $483,300. To determine the tax bill, local tax rates are applied to the assessed value. Various factors influence this calculation, including the property's location, size, and condition, as well as any applicable exemptions. For homeowners in Gypsum, the property tax bill can vary significantly. For example, at the 25th percentile, the tax bill is $1,096, while at the 75th percentile, it rises to $2,804. At the 90th percentile, it can be as high as $4,442. The highest median tax bill in the area is $1,912, which is higher than the national median property tax rate of 0.99%. These taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life in the community. Understanding these factors helps homeowners anticipate and manage their property tax obligations effectively.
Average Gypsum Tax Bill
$1,912
Average Garfield County Tax Bill
$1,819
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 | $717 | $1,120 | $1,912 | $2,756 | $4,043 |
Source: Ownwell