Colorado Property Taxes: How They’re Calculated (2026 Guide)

Colorado property taxes are calculated in three steps. The county assessor sets your home’s actual value. That value is multiplied by the state’s assessment rates to get the assessed value. Your local taxing authorities then apply their tax rates (mill levies) to the assessed value. Starting in 2025, residential property has two assessment rates, one for local government and one for school districts. The Colorado Division of Property Taxation (DPT) lists them for 2026 as 6.8% for local government and 7.05% for schools.

Your bill depends on where the home sits. Mill levies are set locally, so two homes with the same value in different parts of Colorado can owe very different amounts.

Key Takeaways

• The formula is actual value × assessment rate × mill levy. The assessor sets the value, state-published rates turn it into assessed value, and local taxing authorities set the levies.
• Residential property now has two assessment rates. For 2026, DPT lists 6.8% for local government and 7.05% for school districts, so your bill is figured in two parts.
• The calendar matters. Notices of Valuation for real property go out by May 1, and you can protest a value you disagree with. Bills arrive after January 1 for the prior tax year.
• Buyers should plan for property tax as a monthly cost. The last section covers how to fit it into your budget next to one-time closing costs.

How Colorado Property Taxes Are Calculated

Colorado property tax is a local tax. According to DPT, the revenue stays in the county where it’s collected and pays for local services. It does not fund state government.

The calculation has three inputs.

Step 1: The county assessor sets actual value

Each county assessor finds, lists, classifies, and values property under state law. For residential property, assessors use the market approach, which means they look at what comparable homes sold for.

Timing matters:

• Real property (land and buildings) is revalued every odd-numbered year.
• Personal property is revalued every year.

DPT says residential values for tax years 2025 and 2026 are based on comparable sales from January 1, 2023 through June 30, 2024. If a county doesn’t have enough sales data from that window, lookback rules let assessors use older sales. Your 2026 value therefore reflects the market of 2023 and early 2024, not today’s prices.

Step 2: The assessment rate converts actual value to assessed value

You aren’t taxed on the full actual value. A percentage of it, called the assessment rate, becomes the assessed value:

Assessed value = actual value × assessment rate

For the local government portion, the rate is applied after a reduction, explained in the next section.

Assessed value and market value are easy to confuse. Our explainer on assessed value vs. market value breaks down the difference.

Step 3: Local mill levies are applied to assessed value

Local taxing authorities set the tax rate, also called the mill levy. Counties, cities, school districts, and special districts can each set one. One mill equals one-tenth of a cent, so it works out to $1 of tax for every $1,000 of assessed value.

The total levy on your property depends on which taxing authorities cover your address. That’s why property taxes differ from one neighborhood to the next within the same county.

Why Colorado Now Uses Two Residential Assessment Rates

Beginning with the 2025 tax year, Colorado residential property has two assessment rates:

2026 residential assessment rate	Rate (per DPT)
Local government	6.8%
School districts	7.05%

Source: Colorado Division of Property Taxation, 2026 Assessment Rates chart.

The two rates aren’t applied the same way. According to DPT, the 2026 local government rate of 6.8% applies after a 10% reduction of the first $700,000 in actual value, and the reduction can’t drop the assessed value below $1,000. Under HB24B-1001, the school district rate applies to the full actual value.

In practice, your home has two assessed values. One is multiplied by the local government mill levies and the other by the school district mill levies. The two results are added to get your total tax.

Assessment rates are set under state law and have changed over time. HB24B-1001, from 2024, is the law behind the current residential rates. Check DPT’s current assessment rate chart before relying on any figure, including the ones in this article.

A Worked Example: DPT’s $275,000 Home

DPT gives an illustrative example of how the math works. The figures below are DPT’s example. Your county’s mill levies will be different, so use this to understand the method rather than to estimate your own bill.

DPT’s overview example applies both rates to the full actual value and doesn’t show the 10% local government reduction described above, so treat it as a simplified illustration of the method.

Starting point: a residential property with an actual value of $275,000.

	Local government	School district
Actual value	$275,000	$275,000
Assessment rate (2026)	6.8%	7.05%
Assessed value	$18,700	$19,388
Taxes (after local mill levies)	$438.05	$1,010.43

Total property tax in DPT’s example: $1,448.48

To run your own numbers, you need three things:

1. Your home’s actual value from the county assessor
2. The current assessment rates from DPT
3. The local government and school district mill levies for your address, which you can get from your county assessor or treasurer

Your county assessor and treasurer are the best sources for a specific property’s value and recent tax bills. If you’re looking at a specific home, its most recent bill is a better starting point than a statewide estimate.

Colorado Property Tax Calendar: Valuations, Protests, and Payments

These are the key dates DPT describes. Counties may publish their own schedules, so check the exact dates with your county assessor and treasurer.

Notices of Valuation arrive by May 1

Notices of Valuation for real property are mailed by May 1. The notice shows the actual value the assessor set for your property. Read it carefully, especially in a reappraisal year. DPT notes that statutory dates can shift because of weekends and holidays, so confirm the adjusted dates with your county assessor.

How to protest your property valuation

If you think your value is wrong, Colorado has a formal appeal path:

1. County assessor. File a protest with the assessor first.
2. County board of equalization. If the assessor denies your protest, you can appeal here.
3. Further appeal. After the county board, options include an arbitrator, district court, or the Board of Assessment Appeals (BAA).

Each step has a deadline. DPT publishes a dates table, and your county assessor posts the current protest window. Confirm those dates directly, because missing one can end your appeal for that cycle.

Assessors value residential property from comparable sales in an official data collection period. For 2025–2026 values, that period is January 1, 2023 through June 30, 2024, so sales from that window are the relevant comparison if you protest.

Tax bills arrive after January 1

Colorado property taxes are paid in arrears. Bills mailed after January 1 cover the prior tax year. A bill you receive in early 2027, for example, is for tax year 2026.

Payment options: two halves or one full payment

According to DPT, if your bill is more than $25, you can choose one of these:

• Two halves: the first half is due by the last day of February and the second by June 15
• One full payment by April 30

If your lender collects property taxes through an escrow account, your mortgage servicer pays the bill for you from that account. Check with your loan servicer to make sure.

Property Tax Relief Programs in Colorado

Colorado has several programs that can lower or delay property taxes. According to DPT, seniors, persons with disabilities, and members of the National Guard and Reserves called into active service may be eligible for:

• Senior property tax exemption
• Exemption for veterans with a disability
• Property tax deferral
• Property Tax/Rent/Heat Rebate
• Property tax work-off programs

Each program has its own eligibility rules and application deadlines. DPT publishes brochures that cover these programs. If you think you might qualify, start with the DPT website and your county assessor’s office.

How Buyers Should Budget for Colorado Property Taxes

Buyers often concentrate on the down payment and closing costs and give less thought to what the home costs to own each year. Property tax is one of those yearly costs.

Property tax is an ongoing cost

Closing costs in Colorado are paid once, at the closing table. Property tax is a bill you’ll get every year for as long as you own the home. Many buyers pay it monthly through escrow, so it becomes part of the mortgage payment.

When you work out what you can afford, add a realistic monthly property tax figure to principal, interest, and insurance.

Look up the actual tax history for homes you’re considering

Because mill levies are set locally, a statewide estimate can be far off for a specific Colorado address. For a more accurate number:

• Look up the property on the county assessor’s website to see its current actual value
• Check the county treasurer’s records for recent tax bills
• Find out whether the home is in a special district, which can add mill levies
• Keep the reappraisal cycle in mind. The next revaluation of real property comes in the next odd-numbered year, which is 2027.

First-time buyers: build it in early

If you’re buying for the first time, put property tax into your budget from the start, before you begin making offers. Our Colorado first-time home buyer guide covers assistance programs and other planning steps.

Plan for the up-front costs too

Your earliest out-of-pocket costs, such as earnest money, come well before your first tax bill. Keeping both one-time and ongoing costs in view gives you a clearer picture of affordability. If you’d like to see how buyer cash-back can help with move-in costs, our home buyer rebates guide explains how rebates work.

Frequently Asked Questions About Colorado Property Taxes

This article explains how Colorado property taxes work and is not tax or legal advice. Assessment rates, mill levies, and deadlines can change. Confirm current figures with the Colorado Division of Property Taxation and your county assessor or treasurer.