The following information was compiled to help answer general questions about the tax valuation process.
Please contact any of our agents if you have questions or need further assistance.
Actual Value of the Property
The state mandates that property is re-valued every two years (odd numbered years). Residential property is valued using the market approach to value. In this approach, the value of the subject property is based on an analysis of comparable sales. This is an estimate (mass valuation) without a home visit so occasionally is not accurate. For this valuation, the comparable properties must have sold between January 1, 2023 and June 30, 2024. Actual value is given to you in your notice of valuation by mail from the County Assessor.
Assessment Rate
Beginning in 2025, residential property will have two assessment rates. One assessment rate will be used to calculate local government assessed values (estimated to be at 6.25%) and the other rate will calculate school district assessed values (estimated to be at 7.05%). The projected assessment rates will not be finalized until after October of 2025. The following examples are based on the projected rates according to the State of Colorado.
The assessment rate for most other types of property, including commercial and commercial business personal property is estimated to be at 27% of the actual value.
Assessed Value
Multiplying the actual value by the appropriate assessment rate gives you the assessed value.
Tax Rate
Each year county commissioners, city councils, school boards, governing boards of special districts and the other taxing authorities determine the revenue needed and allowed under the law to provide for the following year.
Each taxing authority calculates a tax rate based on the revenue needed from property tax and the total assessed value of real and personal property located within the boundaries. The tax rate is often expressed as a mill levy. The mill levy is different in each area (varies by city, school district, water provider etc. etc.)
All of the tax rates of the various taxing entities providing services in your tax area are added together to form the total tax rate.
- City Tax Rate
- School District Tax Rate
- Health District Tax Rate
- Water and Sanitation Tax Rate
- Pest Control District
- Total Tax Rate
The assessor classifies and values property. The various taxing entities determine tax rates.
Example: Residential Property Tax calculation for 2025 (as of May 1, 2025)
Property Value – Exemption x Assessment Rate x Total Mill Levy = Property Tax
| Actual Value | $275,000 |
| Local Government Assessed Rate | × 0.0625 |
| Local Government Assessed Value | $17,188 |
| Local Government Tax Rate | × 0.023425 |
| Local Government Taxes Due | $402.63 |
| Actual Value | $275,000 |
| School District Assessed Rate | × 0.0705 |
| School District Assessed Value | $19,388 |
| School District Tax Rate | × 0.052116 |
| School District Taxes Due | $1,010.43 |
| Local Government Taxes Due | $402.63 |
| School District Taxes Due | + $1,010.43 |
| Total Taxes Due | $1,413.0 |
Notice of Valuation
Real Property Notices of Valuation are mailed by May 1st of each year.
Protest and Appeal Rights
If you disagree with the actual value or classification placed on your property, you may present oral or written objection to the assessor. Protests for real property must be in by June 9th.
Contact your Roots Agent, we can help:
- Explain the Process
- Check for Elligible Exemptions (Senior, Disabled Veteran, or Gold Star)
- Check to make sure classification and information is correct
- Research comparable sales to help determina a fair value.