Property tax revenue supports public schools, county governments, special districts, municipal governments, and junior colleges.
All of the revenue generated by property taxes stays within your county. Property taxes do not fund any state services.
The county assessor is responsible for discovering, listing, classifying, and valuing all property in the county in accordance with state laws. The assessor’s goal is to establish accurate values of all property located within the county, which in turn ensures that the tax burden is distributed fairly and equitably among all property owners.
Real property is revalued every odd-numbered year. Personal Property is revalued every year. Property tax calculations consist of several components:
property classification
actual value of the property
assessment rate
assessed value
tax rate
The property valuation notice alerts property owners of any changes to their property's valuation. In Colorado, the property valuation is only one part of a three-part equation to determine property taxes. The other parts are the statewide assessment rate, determined by the state legislature and the local mill levy rate set by the various taxing authorities of school districts, fire districts and other local governments.
The Assessor’s role is to determine the market value of a property as of a certain date. The valuation is done is collected in arrears, per state statute, which means that the value of the property in a notice of valuation received in May of 2025, for example, is actually being taken from data gathered from July 1, 2022 through June 30, 2024.
Tax Notice and Payment
The property tax notice will be sent to the property owner on record, not the mortgage company for the property. When you receive your notice, it is recommended you check with your mortgage company to clarify whether you are responsible to make the payment or if they will make the payment on your behalf.
If you pay your property taxes in two installments, the first half of your property tax is due by the last day of February and the second half is due by June 15 or the next business day. You can also choose to pay the full amount by April 30. If taxes aren’t paid by the due dates, interest starts to accrue at a rate of 1% per month. The Treasurer’s Office sends delinquent notices to remind taxpayers their account is unpaid. Learn more about paying your property taxes on the Treasurer's web page.
Understanding your Property Valuation
The property valuation document informs you of the actual value of your property and will also include an estimated tax amount for 2024. With the statewide increases of those valuations for 2023, you may have additional questions. This page is your one-stop-shop for all the information and resources you may need.
To learn more about how property taxes are calculated, visit the Colorado Department of Local Affairs.
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If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.
