Parachute, Garfield County, Colorado Property Taxes

Name: Property Tax Bills Across Parachute, Garfield County, Colorado
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Parachute, CO effective property tax rate: 0.38%, significantly lower than the national median of 1.02%, but lower than the Colorado state median of 0.55%.
Median Parachute, CO home value: $192,330
Median annual Parachute, CO tax bill: $774, $1,626 lower than the national median property tax bill of $2,400.

How are property taxes in Garfield calculated?

Property taxes in Parachute, CO are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Parachute’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Parachute, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Parachute, Garfield County, Colorado Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.38%

Estimate Property Tax Bill

$731

$678

Ownwell’s Parachute Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Parachute with just two data points. By entering your property's estimated assessed value, our calculator applies Parachute’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Garfield County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Parachute, Garfield County, Colorado

Local government entities are responsible for setting property tax rates, which can differ significantly within a state. Each county calculates its budgetary needs annually, dividing this by the total value of all taxable property within its jurisdiction to determine the property tax rate. This process, though influenced by votes and legislation, is the crux of how tax rates are established each year. In Parachute, located in Garfield County, Colorado, the effective property tax rate is notably lower than the national median of 1.02%. This rate is also below the median property tax rate for Colorado. Comparing Parachute's tax rate to other cities within Colorado, it's evident that residents benefit from a lower tax burden. This can be an attractive factor for property owners looking to minimize their annual expenses. While Parachute's tax rate is advantageous, it's essential to consider other factors such as property values and the quality of local services when evaluating the overall impact of property taxes.

Property Tax Rates Across Parachute, Garfield County, Colorado

Source: Ownwell

0.38%

0.49%

0.61%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Parachute Tax Rate

0.38%

Median Effective Garfield County Tax Rate

0.50%

Median Effective Colorado Tax Rate

0.55%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Parachute, Garfield County, Colorado

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
81635	0.26%	0.37%	0.38%	0.38%	0.47%
81601	N/A	N/A	N/A	N/A	N/A
81630	N/A	N/A	N/A	N/A	N/A
81647	N/A	N/A	N/A	N/A	N/A
81650	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Parachute, Garfield County, Colorado

When examining property taxes in Parachute, CO, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Garfield County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Garfield County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Parachute. For example, the median home price in Parachute is $192,330, with tax bills ranging significantly across the county. Zip code 81635 has the highest median home price at $192,925.

Property Tax Assessment Values Across Parachute, Garfield County, Colorado

Source: Ownwell

$192,925

$431,425

$669,925

Median Parachute Market Value

$192,330

Median Garfield County Market Value

$363,015

Median Colorado Market Value

$405,540

Median United States Market Value

$235,294

Property Tax Assessment Values Across Parachute, Garfield County, Colorado

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
81635	$6,810	$18,760	$192,925	$276,758	$382,755
81601	N/A	N/A	N/A	N/A	N/A
81630	N/A	N/A	N/A	N/A	N/A
81647	N/A	N/A	N/A	N/A	N/A
81650	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Parachute, Garfield County, Colorado

In Parachute, CO, property tax bills are calculated based on the assessed value of a home, which is determined by the Garfield County assessor. This value is then multiplied by the local tax rate to determine the tax bill. With a median home price of $192,330, homeowners can expect tax bills that vary depending on their property's assessed value. For example, the 25th percentile tax bill is $301, while the 75th percentile reaches $1,119, and the 90th percentile can go as high as $1,471. Compared to the national median property tax rate of 1.02%, Parachute offers relatively affordable property taxes, with the highest median tax bill in the area being $775. Ownwell assists homeowners by providing expert property tax appeal and exemption services, potentially reducing their tax bills. By analyzing individual property assessments and identifying discrepancies or opportunities for exemptions, Ownwell can help homeowners in Parachute save significantly on their property taxes, ensuring they only pay their fair share.

Property Tax Bills Across Parachute, Garfield County, Colorado

Source: Ownwell

$736

$2,312

$3,888

Median Parachute Tax Bill

$774

Median Garfield County Tax Bill

$1,819

Median Colorado Tax Bill

$2,283

Median United States Tax Bill

$2,400

Property Tax Bills Across Parachute, Garfield County, Colorado

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
81635	$45	$307	$775	$1,120	$1,472
81601	N/A	N/A	N/A	N/A	N/A
81630	N/A	N/A	N/A	N/A	N/A
81647	N/A	N/A	N/A	N/A	N/A
81650	N/A	N/A	N/A	N/A	N/A

Source: Ownwell