Your Colorado Property Tax Breakdown—Plain and Simple
- ashsellsdenver
- 7 days ago
- 2 min read
Updated: 7 days ago
Navigating property taxes in Colorado can feel like deciphering a complex puzzle. But fear not—I'm here to break it down in a way that's easy to understand, ensuring you're well-informed about how your property taxes are determined and where your money goes.
🏠 Where Do Your Property Taxes Go?
First things first: Every dollar you pay in property taxes stays within your county. These funds are crucial for supporting public schools, county governments, special districts, municipal services, and junior colleges. Importantly, property taxes do not fund any state-level services.
🧾 The Role of the County Assessor
Each county has an assessor responsible for discovering, listing, classifying, and valuing all property within the county, adhering to state laws. The goal is to establish accurate property values to ensure a fair and equitable distribution of the tax burden among property owners.
📅 Revaluation Schedule
Real Property: Revalued every odd-numbered year (e.g., 2025, 2027).
The county must send the Notice of Valuation by May 1st.
You have until approximately June 9th to appeal the valuation (depending on which county you are in).
The appeal will be reviewed and you will receive a Notice of Determination by August 15th.
If you still need to appeal, you can do so again by September 15th!
🧮 Components of Property Tax Calculation
Understanding your property tax involves several key components:
Property Classification: Determined by the property's actual use as of January 1. This classification affects the assessment rate applied.
Actual Value of the Property:
Residential Property: Valued using the market approach, which analyzes comparable sales. For tax years 2025 and 2026, sales between January 1, 2023, and June 30, 2024, are considered. If insufficient data exists, earlier sales data (up to five years prior) may be used.
Non-Residential Property: Valued using a combination of market, cost, and income approaches.
Assessment Rate: A percentage applied to the actual value to determine the assessed value.
Assessed Value: The product of the actual value and the assessment rate.
Tax Rate (Mill Levy): Set by local taxing authorities, this rate is applied to the assessed value to calculate the property tax owed.
🛠️ Tools and Resources
To estimate your property taxes, view local taxing districts, and explore historical data, the Colorado Department of Local Affairs offers an accessible online tool: 👉 Property Tax Map
Understanding these components empowers you to grasp how your property taxes are calculated and ensures transparency in how your contributions support your local community.
If you need help understanding your 2025 tax assessment - REACH OUT! I can help you interpret the document and decide whether or not it makes sense to appeal the valuation.
Give me a call at 720.673.7701 to discuss!
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