Gilpin County, Colorado Property Taxes
The median property tax rate in Gilpin County is 0.41%, which is significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Gilpin County at $340,645, the typical annual property tax bill reaches $1,047, which is well below the national median of $2,690. Property taxes in Gilpin County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Gilpin County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Central City or another part of Gilpin County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gilpin County, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.41%
Estimate Property Tax Bill
$1,397
$1,296
Ownwell’s Gilpin County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Gilpin County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Gilpin County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Gilpin County, Colorado
Property taxes in Gilpin County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Gilpin County is 0.41%, which is lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Gilpin County set these rates annually, and they can vary significantly between different areas within the county. Each year, Gilpin County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Gilpin County's effective property tax rate with other counties in Colorado and the national median. For comparison, the city of Rollinsville has one of the higher property tax rates in Colorado at 0.51%, while the city of Black Hawk boasts one of the lowest at 0.51%. Analyzing how Gilpin County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Gilpin County Tax Rate
0.41%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gilpin County, Colorado
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Black Hawk | 0.21% | 0.21% | 0.51% | 0.51% | 0.51% |
| Central City | 0.16% | 0.21% | 0.22% | 0.22% | 0.22% |
| Evergreen | N/A | N/A | N/A | N/A | N/A |
| Golden | 0.21% | 0.21% | 0.51% | 0.52% | 0.52% |
| Idaho Springs | 0.16% | 0.21% | 0.21% | 0.21% | 0.21% |
| Rollinsville | 0.41% | 0.51% | 0.51% | 0.51% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Gilpin County, Colorado
In Gilpin County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Gilpin County Appraisal District. The assessed value, however, 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. Assessment notices in Gilpin County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Gilpin County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. Among the cities in Gilpin County, Rollinsville has the highest median tax bill at $1,773, while Central City has the lowest at $585.
Property Tax Assessment Values Across Gilpin County, Colorado
Source: Ownwell
$264,845
$364,548
$464,250
Average Gilpin County Assessed Value
$340,645
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gilpin County, Colorado
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Black Hawk | $75,168 | $219,240 | $347,805 | $461,668 | $577,954 |
| Central City | $55,331 | $160,920 | $264,845 | $336,082 | $420,510 |
| Evergreen | N/A | N/A | N/A | N/A | N/A |
| Golden | $90,480 | $325,900 | $464,250 | $576,480 | $752,110 |
| Idaho Springs | $128,330 | $342,860 | $456,890 | $586,460 | $597,600 |
| Rollinsville | $121,738 | $227,828 | $361,955 | $463,008 | $537,401 |
Source: Ownwell
Property Tax Bills Across Gilpin County, Colorado
In Gilpin County, CO, property tax bills are calculated based on the assessed value of your home rather than its market value. The assessed value is a percentage of the market value, which is determined by the county assessor. Various factors such as property size, location, and improvements are considered to estimate the market value. Homeowners in Gilpin County can expect property tax bills that vary significantly. For instance, the 25th percentile tax bill is around $595, while the 75th percentile tax bill reaches approximately $1,696. At the higher end, the 90th percentile tax bill is about $2,375. Central City boasts the lowest median tax bill at $585, whereas Rollinsville has the highest median tax bill at $1,773, both reflecting the diversity in property values within the county. Compared to the national median property tax rate of 0.99%, Gilpin County offers a range of tax bills that can impact homeowners differently, depending on the assessed value of their property.
Average Gilpin County Tax Bill
$1,047
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Gilpin County, Colorado
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Black Hawk | $263 | $660 | $1,091 | $1,690 | $2,269 |
| Central City | $105 | $331 | $585 | $751 | $990 |
| Evergreen | N/A | N/A | N/A | N/A | N/A |
| Golden | $405 | $937 | $1,393 | $2,523 | $3,392 |
| Idaho Springs | $275 | $628 | $980 | $1,258 | $1,282 |
| Rollinsville | $538 | $1,115 | $1,773 | $2,295 | $2,815 |
Source: Ownwell