Gunnison, Colorado Property Taxes
The median property tax rate in Gunnison, CO is 0.42%, considerably lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Gunnison at $379,300, the typical annual property tax bill reaches $1,554, which is well below the national median of $2,690. Property taxes in Gunnison 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 Gunnison'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 Gunnison 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
Gunnison, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.42%
Estimate Property Tax Bill
$1,593
$1,478
Ownwell’s Gunnison Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gunnison with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gunnison 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 Gunnison, Colorado
Property taxes in Gunnison, Colorado, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gunnison is 0.42%, significantly lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Gunnison set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gunnison 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 Gunnison's effective property tax rate to other counties in Colorado and the national median. For comparison, the 81230 zip code has the highest median property tax rate of 0.42%, while the 81230 zip code also has the lowest median tax rate of 0.42%. Understanding how these cities compare with Gunnison 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 Gunnison 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 Gunnison, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81230 | 0.37% | 0.42% | 0.42% | 0.42% | 0.43% |
Source: Ownwell
Property Tax Assessment Values Across Gunnison, Colorado
In Gunnison, 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 Gunnison County Assessor’s Office 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 Gunnison, 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 Gunnison helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Gunnison, the median home price is $379,300, with median tax bills ranging from $1,059 at the 25th percentile to $2,813 at the 90th percentile. The zip code 81230 has the highest and lowest median tax bill at $1,554.
Average Gunnison Assessed Value
$379,300
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 Gunnison, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81230 | $139,216 | $253,230 | $379,300 | $502,318 | $647,086 |
Source: Ownwell
Property Tax Bills Across Gunnison, Colorado
Property tax bills in Gunnison, CO, are determined by assessing the market value of your property and applying the appropriate tax rate. The median home price in Gunnison is $379,300. The assessed value is calculated as a percentage of the market value, and then the local tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property location, improvements, and local tax levies influence the final tax amount. Homeowners in Gunnison can expect varying tax bills depending on their property values. For instance, the tax bill at the 25th percentile is $1,059, while at the 75th percentile, it is $2,083. The 90th percentile tax bill can go up to $2,813. The highest and lowest median tax bills are both $1,554, indicating a relatively consistent tax rate within the zip code 81230. Compared to the national median property tax rate of 0.99%, Gunnison offers a competitive tax environment, impacting homeowners by providing a relatively predictable and manageable property tax structure.
Average Gunnison Tax Bill
$1,554
Average Gunnison County Tax Bill
$1,892
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Gunnison, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81230 | $632 | $1,059 | $1,554 | $2,083 | $2,813 |
Source: Ownwell