Powderhorn, Colorado Property Taxes
The median property tax rate in Powderhorn, CO is 0.41%, considerably lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Powderhorn at $272,895, the typical annual property tax bill reaches $1,149, well below the national median of $2,690. Property taxes in Powderhorn 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 Powderhorn'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 Powderhorn or another part of Gunnison County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Powderhorn, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.41%
Estimate Property Tax Bill
$1,119
$1,038
Ownwell’s Powderhorn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Powderhorn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Powderhorn 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 Powderhorn, Colorado
Property taxes in Powderhorn, Colorado, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Powderhorn is 0.41%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Powderhorn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Powderhorn 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 Powderhorn's effective property tax rate to other counties in Colorado and the national median. For comparison, the 81243 zip code has the highest median property tax rate of 0.41%, while the same zip code also has the lowest median tax rate of 0.41%. Understanding how these cities compare with Powderhorn 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 Powderhorn Tax Rate
0.41%
Average Gunnison County Tax Rate
0.46%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Powderhorn, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81243 | 0.41% | 0.41% | 0.41% | 0.43% | 0.50% |
Source: Ownwell
Property Tax Assessment Values Across Powderhorn, Colorado
In Powderhorn, 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 Powderhorn, 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 Powderhorn helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 81243 has the highest median tax bill at $1,149, which is also the lowest median tax bill in the area.
Average Powderhorn Assessed Value
$272,895
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 Powderhorn, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81243 | $119,743 | $184,402 | $272,895 | $376,735 | $603,982 |
Source: Ownwell
Property Tax Bills Across Powderhorn, Colorado
In Powderhorn, Gunnison County, CO, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The assessed value is a percentage of the home's market value, which is then multiplied by the local tax rate to calculate the annual tax bill. Factors considered in this calculation include the property's location, size, and any improvements made. Homeowners in Powderhorn can expect varying tax bills. For instance, the tax bill at the 25th percentile is $783, while at the 75th percentile, it rises to $1,641. At the 90th percentile, homeowners might see tax bills as high as $2,721. The median home price in Powderhorn is $272,895, and the median property tax bill in the area is consistent at $1,149, which is slightly above the national median property tax rate of 0.99%. These taxes fund essential local services, impacting the overall cost of homeownership and contributing to community development.
Average Powderhorn Tax Bill
$1,149
Average Gunnison County Tax Bill
$1,892
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Powderhorn, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 81243 | $532 | $783 | $1,149 | $1,641 | $2,721 |
Source: Ownwell