This Page Is Under Construction
Property values are determined in odd-numbered years. The Assessor values your property based on actual or market value, and the result is known as the “assessed value”. Valuing property according to its market value requires research and analysis of properties that are similar. In the odd-numbered years, the Colorado legislature sets the assessed rates for residential and other properties, which is based on a formula that voters approved in the Gallagher Amendment. The “assessed value” is currently 7.96% of the actual or market value.
Note: the valuation performed in odd-numbered years is made for an 18-month period ending the year before your Notice of Valuation date.
Example: Tax Year 2015 is based upon data collected for January 1, 2013 to June 30, 2014.
Market Value x Assessment Rate x Mill Levy = Property Tax
Residential Property - $100,000 x .0796 x .1 (100mils) = $796.00
Commercial Property - $100,000 x .29 x .1 = $2,900.00