Gunnison, Colorado Property Taxes
The median property tax rate in Gunnison, CO is 0.43%, significantly lower than both the national median of 0.99% and Colorado's state median of 0.55%. With the median home value in Gunnison at $93,234, the typical annual property tax bill is $405, well below the national median of $2,690. Property taxes in Gunnison are calculated based on the tax assessed value, which is often less than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Gunnison'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 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
0.43%
Estimate Property Tax Bill
$401
Ownwell’s Gunnison Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating 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, CO, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gunnison is 0.43%, which is significantly lower than 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 0.43%, while the 81230 zip code also has the lowest median tax rate of 0.43%. Understanding how these cities compare with Gunnison provides valuable insights into the varying tax landscape across Saguache County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gunnison Tax Rate
0.43%
Average Saguache County Tax Rate
0.66%
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 | 0.42% | 0.43% | 0.43% | 0.45% | 0.64% |
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 local appraisal district 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. 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. In Gunnison, the median home price is $93,234, with the 25th percentile tax bill at $178 and the 75th percentile at $873. The highest and lowest median tax bills are both $405, found in zip code 81230. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Gunnison Assessed Value
$93,234
Average Saguache County Assessed Value
$49,043
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 | $17,140 | $38,235 | $93,234 | $182,798 | $316,842 |
Source: Ownwell
Property Tax Bills Across Gunnison, Colorado
In Gunnison, CO, property tax bills are determined by assessing the market value of a property and applying the local tax rate to this value. The median home price in Gunnison is $93,234, which serves as a baseline for calculating taxes. Homeowners in Gunnison can expect their tax bills to vary significantly, with the 25th percentile at $178 and the 75th percentile reaching up to $873. For those at the 90th percentile, tax bills can be as high as $1,443. The highest and lowest median tax bills in Gunnison are both recorded at $405, indicating a level of consistency in certain areas. Compared to the national median property tax rate of 0.99%, Gunnison’s tax bills reflect a relatively moderate range. Factors such as property improvements, local government budgets, and school district funding needs also influence these tax rates. Homeowners must consider these elements as they can significantly impact their annual financial obligations. Understanding these factors can help residents better prepare for their property tax responsibilities.
Average Gunnison Tax Bill
$405
Average Saguache County Tax Bill
$305
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 | $110 | $178 | $405 | $873 | $1,443 |
Source: Ownwell