Parshall, Colorado Property Taxes
The median property tax rate in Parshall, CO is 0.47%, significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With a median home value of $325,350, the typical annual property tax bill in Parshall amounts to $1,483, which is well below the national median of $2,690. Property taxes in Parshall are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Parshall's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Parshall or another part of Grand County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Parshall, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$1,529
$1,419
Ownwell’s Parshall Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Parshall with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Parshall 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 Parshall, Colorado
Property taxes in Parshall, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Parshall is 0.47%, lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Parshall set these rates annually, and they can vary significantly across different neighborhoods. Each year, Parshall 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 Parshall's effective property tax rate to other counties in Colorado and the national median. For comparison, the 80468 zip code has the highest median property tax rate of 0.47%, while the same zip code also has the lowest median tax rate of 0.47%. Understanding how these cities compare with Parshall provides valuable insights into the varying tax landscape across Grand County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Parshall Tax Rate
0.47%
Average Grand County Tax Rate
0.46%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Parshall, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80468 | 0.40% | 0.47% | 0.47% | 0.47% | 0.47% |
Source: Ownwell
Property Tax Assessment Values Across Parshall, Colorado
In Parshall, 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 Grand County Assessor 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 Parshall, 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 Parshall helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,483, found in zip code 80468.
Average Parshall Assessed Value
$325,350
Average Grand County Assessed Value
$403,230
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Parshall, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80468 | $66,128 | $130,940 | $325,350 | $463,180 | $690,036 |
Source: Ownwell
Property Tax Bills Across Parshall, Colorado
In Parshall, located in Grand County, CO, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in Parshall is $325,350. Property tax rates in this region can vary, but the median property tax bill stands at $1,483 annually. This figure is consistent across the zip code 80468, which encompasses Parshall. Homeowners can expect their tax bills to reflect several factors, including the property's assessed value and the local tax rate. For instance, the 25th percentile tax bill is $606, while the 75th percentile reaches $2,161, and the 90th percentile can be as high as $3,788. These variations indicate how different property values and local levies impact the final tax amount. Compared to the national median property tax rate of 0.99%, Parshall's property tax bills can significantly affect homeowners, influencing their annual financial planning and overall cost of homeownership.
Average Parshall Tax Bill
$1,483
Average Grand County Tax Bill
$1,913
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Parshall, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80468 | $311 | $606 | $1,483 | $2,161 | $3,788 |
Source: Ownwell