Marble, Colorado Property Taxes
The median property tax rate in Marble, CO, is 0.45%, notably lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Marble at $304,420, the typical annual property tax bill is around $1,288, which is significantly less than the national median of $2,690. Property taxes in Marble 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 Marble'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 Marble 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
Marble, 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 Marble Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marble with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marble 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 Marble, Colorado
Property taxes in Marble, Colorado, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marble is 0.45%, significantly lower than both the Colorado state median and the U.S. national median of 0.99%. Local government entities within Marble set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marble 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 Marble's effective property tax rate to other counties in Colorado and the national median. For comparison, the 81623 zip code has the highest median property tax rate of 0.45%, while the same 81623 zip code also has the lowest median tax rate of 0.45%. Understanding how these cities compare with Marble 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 Marble Tax Rate
0.45%
Average Gunnison County Tax Rate
0.46%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marble, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81623 | 0.40% | 0.45% | 0.45% | 0.49% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Marble, Colorado
In Marble, 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 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 Marble, 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. For example, in the zip code 81623, the median tax bill is $1,288, which is the highest in the area. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Marble Assessed Value
$304,420
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 Marble, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81623 | $87,245 | $123,708 | $304,420 | $486,230 | $858,140 |
Source: Ownwell
Property Tax Bills Across Marble, Colorado
In Marble, 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 Marble is $304,420. Property taxes are determined by multiplying the assessed value by the local tax rate. In Marble, the property tax rate is notably lower than the national median of 0.99%, leading to relatively modest tax bills for homeowners. Several factors influence the final tax bill, including the specific assessed value of the property and any applicable exemptions. For instance, the 25th percentile tax bill is $720, while the 75th percentile tax bill is $2,178, and the 90th percentile tax bill reaches $3,845. This range demonstrates how property values and local tax rates can impact what homeowners owe annually. Comparatively, the highest and lowest median tax bills in Marble are both $1,288, indicating a consistent tax environment within the area. These variances in tax bills can significantly affect homeowners' annual financial planning and long-term investment in their properties.
Average Marble Tax Bill
$1,288
Average Gunnison County Tax Bill
$1,892
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Marble, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81623 | $452 | $720 | $1,288 | $2,178 | $3,845 |
Source: Ownwell