Colorado property tax rates vary by county and municipality, not by a single statewide percentage
Colorado does not have a uniform property tax rate across the state. Instead, each county and city sets its own rate based on local needs and voter-approved mill levies. Your property tax bill depends on three things: the assessed value of your home, the local mill levy (the tax rate), and any exemptions you may may have access to for. A home worth $400,000 in one county might owe significantly more or less than an identical home in another county.
The state assesses residential property at 6.45 percent of its actual market value, then counties and municipalities layer their own mill levies on top. One mill equals $1 in tax per $1,000 of assessed value. Most Colorado counties charge between 40 and 80 mills total, though some exceed 100 mills. This means your actual tax rate — expressed as a percentage of market value — typically falls between 0.4 and 1 percent, depending on where you live.
Key Takeaways
- Colorado property tax rates are set locally by county and municipality, so the rate for your home depends entirely on where it is located.
- The state assesses residential property at 6.45 percent of market value, then local mill levies are applied on top of that assessed value.
- Most Colorado homeowners pay between 0.4 and 1 percent of their home's market value in annual property tax, but this varies significantly by location.
- You can find your specific mill levy and tax bill through your county assessor's website or property tax statement.
- Homeowners over 65, disabled homeowners, and surviving spouses of military members may may have access to for property tax exemptions or deferrals.
How the assessment and mill levy system works
Your property tax bill starts with the county assessor's office, which determines the market value of your home. This is not the price you paid — it is what the assessor believes your home would sell for today. The assessor then multiplies that market value by 6.45 percent to arrive at the assessed value. This assessed value is what the mill levy is applied to.
The mill levy is a rate set by your county, school district, and any special districts (fire, water, library) that serve your property. Each entity publishes its own mill levy, and they add together. If your county charges 20 mills, your school district charges 40 mills, and your fire district charges 5 mills, your total mill levy is 65 mills. Divide that by 1,000 to convert to a percentage: 65 mills equals 6.5 percent of assessed value, which is roughly 0.42 percent of market value.
The actual dollar amount you owe is calculated this way: (market value × 0.0645) × (total mills ÷ 1,000). For a $300,000 home in a county with a 65-mill levy, the math is ($300,000 × 0.0645) × (65 ÷ 1,000) = $1,253 per year, before any exemptions or credits.
Property tax rates by Colorado county
The following table shows approximate effective tax rates (as a percentage of market value) for a sample of Colorado counties. These figures are based on recent mill levy data and assume a standard residential property with no exemptions. Your actual rate may differ based on special district levies, school district boundaries, and local changes to mill levies.
| County | Approximate Effective Rate | Notes |
|---|---|---|
| Denver | 0.51% | City and county combined; includes school district |
| Boulder | 0.62% | Higher mill levies due to school funding |
| El Paso (Colorado Springs area) | 0.48% | Lower mill levies than mountain counties |
| Summit (mountain resort area) | 0.78% | Higher levies for mountain services |
| Jefferson | 0.55% | Suburban Denver area |
| Larimer (Fort Collins area) | 0.54% | Growing county with moderate levies |
These rates change annually as mill levies are adjusted. The best way to find your exact rate is to contact your county assessor's office or check your property tax statement, which lists the specific mill levies applied to your address.
Homestead exemptions and property tax relief
Colorado offers a homestead exemption that reduces the assessed value of your primary residence. If you own and occupy your home as your principal place of residence on January 1 of the tax year, you may reduce your assessed value by up to $7,850 (as of 2024; this amount adjusts annually). This exemption applies only to your primary home, not to rental properties or second homes.
To claim the homestead exemption, you must file a form with your county assessor by June 15 of the year you first claim it. After that, the exemption renews automatically each year as long as you continue to own and occupy the home. The exemption saves most homeowners between $200 and $500 per year, depending on their mill levy and home value.
Colorado also offers property tax deferrals for homeowners age 65 and older, disabled homeowners, and surviving spouses of military members killed in action. These programs allow you to defer payment of property tax until the home is sold or the estate is settled. You must meet income limits and own the home outright or have significant equity. Contact your county assessor's office for income thresholds and process important date, which vary by county.
Senior and disabled homeowner exemptions
Homeowners age 65 and older may may have access to for an additional exemption beyond the standard homestead exemption. Colorado allows counties to offer a senior exemption that reduces assessed value further, but the amount and availability vary by county. Some counties offer no additional exemption; others reduce assessed value by $50,000 or more. Check with your county assessor to see what is available in your area.
Disabled homeowners and surviving spouses of military members may also may have access to for exemptions or deferrals. The disabled homeowner exemption typically requires proof of disability from the U.S. Department of Veterans Affairs or a Colorado state agency. Military survivor exemptions explore to spouses of service members killed in action and may include a property tax deferral option. process important date and income limits vary, so contact your county assessor early in the year to understand your options.
How to find your specific property tax rate and bill
Your county assessor's office maintains a public record of all property values and mill levies. You can search for your property online through your county's assessor website, which typically allows you to enter your address and view the assessed value, mill levy breakdown, and estimated tax amount. Most counties also mail a property tax statement in the fall showing your bill for the upcoming year.
If you disagree with the assessed value, you have the right to file a protest with your county assessor. The important date is usually 30 days after you receive your assessment notice. You can submit comparable sales data, recent appraisals, or evidence of property condition to support your case. If the assessor does not adjust the value, you can appeal to the county board of assessment appeals, typically by mid-July of the tax year.
Your property tax bill is due in full on April 15 or in two installments (first half due April 15, second half due June 15), depending on your county. If you pay late, penalties and interest accrue. Some counties offer a small discount for early payment, so check your statement for details.
Frequently Asked Questions
What is the average property tax rate in Colorado?
Colorado's average effective property tax rate is roughly 0.51 percent of home value, but this varies significantly by county. Mountain counties and areas with high school funding needs often exceed 0.7 percent, while some plains counties fall below 0.45 percent. Your actual rate depends entirely on your location.
Do I have to pay property tax on a home I own outright?
Yes. Property tax is owed by anyone who owns real estate in Colorado, whether the home is paid off or financed. If you have a mortgage, your lender typically pays the tax from an escrow account funded by your monthly payment. If you own the home outright, you receive a bill directly from your county and must pay it yourself.
Can I deduct Colorado property tax on my federal income tax return?
Yes, but only if you itemize deductions on your federal return. The state and local tax (SALT) deduction is capped at $10,000 per year, so if your property tax plus state income tax exceeds that, you can only deduct $10,000 total. Most homeowners with mortgages benefit from itemizing, but consult a tax professional for your specific situation.
What happens if I don't pay my property tax bill?
If property tax goes unpaid, your county will charge penalties and interest, typically starting at 1 percent per month. After three years of non-payment, the county may foreclose on the property and sell it at a tax sale. You have a right of redemption — usually up to 75 days after the sale — to reclaim the property by paying the tax, penalties, interest, and sale costs.
How often does the county reassess my home's value?
Colorado counties reassess all residential property every two years. The assessor may adjust your home's value up or down based on market conditions, comparable sales, and property condition. You receive a notice of assessment in the mail, and you have 30 days to file a protest if you believe the value is incorrect.